Yo Pit Crazies, For the old timers out there, there is a tune that goes like this … “I can feel it coming in the air at night, oh Lord.” Phil Collins wrote and sang those words in 1981. Now the air is coming out … of the vol at night. But not really the…
Yo Pit Crazies, Is that damn COVID coming back? I hate that thing. Now they are telling us there is a Delta variant. It sounds like Monster 0 in a Godzilla movie — a monster so bad that it made Godzilla a good monster. COVID is still annoying, but we have vaccines now. And, since…
Greetings Pit Crazies,On a week when VIX should be lower, it ain’t.Maybe this Delta variant COVID thing is making the algo touchy.Or at least keeping the vol sellers at bay.That alone is not quiet enough to keep VIX this bid into the vaccinated USA. Touching base with a vacationing Mark, he reminded me about the non-farm…
Greetings Pit Crazies, Not long ago, I was writing about how Bitcoin and the cryptocurrencies were leveraged and possibly destabilizing the market. I swear that some of those big Bitcoin down days would jack the VIX 2 or 3 points as folks waited for the fallout. That seems a little less likely…
Yo Pit Crazies, We saw some interesting changes last week … The S&P 500 (Ticker: SPX) and Powershares Invesco QQQ Trust Series 1 (QQQ) hit all-time highs. Congress made nice on infrastructure. The Fed walked back nearly all of the hawkish comments from the week before. One thing that remained constant? …
Yo Pit Crazies, Democrats and Republicans have agreed to the first bi-partisan bill in what feels like 10 years. They agreed to spend 1 trillion dollars on infrastructure … After starting out demanding a paltry $1 million in the Austin Powers movies, Dr. Evil (above) finally got the number big enough to freak everyone out…
Yo Pit Crazies, Every time the Fed does something odd, I think it is another reason for VIX to stay elevated. But I like to consult with Option Pit Head Income Trader Bill Griffo to make heads or tails of it. And this popped up in the Pro Chat yesterday: Like…
Yo Pit Crazies, Last week, the Fed talked rate-raising gloom. This week, the Fed speaks and we get SPX to the moon. Lordy, I can’t keep up. But volatility moves with it, like a wave in the ocean that goes up and down. You just need to learn to ride…
Hello Pit Crazies, Sometimes stocks drive me nuts. I think they have great prospects and are going up … But the timing is all wrong. What I don't want to do is confuse an investment for a trade.That will turn one problem into two. Is that a problem you have? Read on and we can see how to fix it … I…
Yo Pit Crazies, Happy Father’s Day to all the Dads! That’s a very nice necktie you have there. Now to reality … The Fed tried to talk tough again last week. It’s possible that they care about how much debt the US is accumulating and are getting nervous about the…