Recap Consolidation during first half of the week was followed by explosive short squeeze from FOMC announcement. ES pushed to new high for the year. Closed the week above Y+1 and near week high.
Outlook Consolidation at 50% range likely. A drop to B-0 / Y-0 also likely.
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smilingsynic June 22, 2014 at 11:08 pm
On Friday we tagged the Jan-Jun upside target based on Jan 1-15 OR (I mentioned this s few weeks ago).
IB made the announcement last month and it seems like it wants to transfer the holding risk, which normal margin + brokerage insurance should have taken care of, to the clients. A form of carry cost (negative interest) like what many Swiss banks do.
Do Swiss banks do this same form of double dipping?
I am usually out of my positions eod, but sometimes keep some overnight. This will not affect me all that much, but it does seem somewhat rapacious to me.
Would you be interested if I wrote some book reviews for your site pro bono? Let me know if you are interested.
Lawrence's Comment
Recap
Quick slide down to Y-2 and took off back to above Y+0, just like what I described last week. Pullback / consolidation since. Closed the week below ...
On Friday we tagged the Jan-Jun upside target based on Jan 1-15 OR (I mentioned this s few weeks ago).
I expect volty to pick up significantly this week.
A violent take down to 37-40 is in order.
HSI had an extremely wild and wide range day. I think you may be onto something, sir.
Down to 40 with a 20 points directional drop. XD
SPX target 1965. I tried posting a chart to illustrate. No can do.
Did you hear about IB’s new daily insurance charges that are being implemented tomorrow? If not, I’ll send you a copy of the email I received.
Seems IB is targeting short gamma positoins (I have none myself) and is charging a premium daily.
IB made the announcement last month and it seems like it wants to transfer the holding risk, which normal margin + brokerage insurance should have taken care of, to the clients. A form of carry cost (negative interest) like what many Swiss banks do.
Do Swiss banks do this same form of double dipping?
I am usually out of my positions eod, but sometimes keep some overnight. This will not affect me all that much, but it does seem somewhat rapacious to me.
Would you be interested if I wrote some book reviews for your site pro bono? Let me know if you are interested.
They have a charge on every freaking item … many of them are overlapping charges, so definitely some form of double dipping.
It feels like China before modern times where banks are essentially security firms hired to safe keep your stuff with a price tag on everything =P
If you have time doing book reviews it would be great. Send them over and I will take care of the rest (formatting etc.).