We had actually gone along for several weeks in a row with low US bank failures – pretty much since the July 4th holiday. Now the pace seems to be picking up again. According to the European stress tests only seven or so major European banks were considered at risk. Try telling that tale to the customers of the more than 260 +/- US bank failures the US FDIC has overseen since the Lehman collapse in Sept. 2008.
Forex Trading Markets Showing Mixed Bag
Seeing a mixed bag in terms of risky assets vs. safe havens in the forex markets – so I’m not taking a position on which way the wind is blowing today for binary options trading at the moment. One never knows when the winds will shift however. My bias remains negative. The US and global economies have not finished passing through the storm as best I can tell. Maybe wiser minds know better.
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Also Don't Miss Out on the New Binary Options Trading Signals and Free Binary Options Trading CourseLooking like someone turned on the risk switch about 10:35am. Weak Yen and USD with strong-ish NZD, AUD, and CAD. Watching for a falling VIX (adding an ‘en’ to the VIX would make for a great 80′s hair band tune title…) before moving. Market at 0.45% plus at the moment.
When Every Stock Is Up But the Indices Tread Water… Beware Distribution
Looks like that risk on call was spot on but in a trading environment like this one you have to be on your toes. When I look at my trading screen and virtually every stock I track is in the green but we’re only up less than a percent… be afraid… be very afraid. I’m feeling like we’re going to get a good dose of distribution this afternoon. I’m on the lookout for the risk currencies to switch off at some point this afternoon coupled with a rising VIX. Not feeling like we’re going to get our desired 50bp cushion for the binary hedge. Checking our package until the forex trading goes risk off.
Risk flip turned off right about the time of previous update. Not much of a spread for a binary hedge and double position today – but that’s the way it goes… on an average day with that trade… you lose a few bucks. That’s how we roll along until we land one in the sweet spot.
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