Regular readers know I hate to trade on Monday’s, but today the bias (atleast mine) is for an upside move. I think we’re going to take a short break from the selling, step back and listen to what European politicians try to sell us, and start looking at the advantages of oil pulling back. My short term assumptions this morning are:
- No bad news is good news
- The European spin machine worked wonders (BNP up +4%)
- The VIX will be taking a rest today
Back to Discipline…
- One long ES Future, for fun.
- Condor Spread Adjustment, probably on the short side this morning.