By Tyler Durden
Authored by Kevin Muir via The Macro Tourist blog,
Another day, and another steady grind higher in US stock markets.
In all my years trading, I can’t recall a non-summer or non-holiday period that has been as boring as the past couple of weeks. I mean, B-O-R-I-N-G. The ironic part of this snoozefest? There has actually been a fair bit of new information for the stock market to digest. Whether it is the recent uptick in wage inflation, or Trumpster’s “we will totally destroy” North Korean rhetoric, it’s not like the world has suddenly become less volatile. Yet day after day, tiny little stock market dips are bought, and we steadily rally, often closing up small. This is a trader’s ordeal. And it’s especially difficult for put-owning-bears like myself. Low-volatility-grind-highers are Amityville Horror type nightmares for me.
When will this end? Or is this trading’s new reality? Could it really be as simple as waiting for the 3 handle morning dip in the spooz, buying it with both fists, and then waiting for the end of day ramp?
Well, I can’t say for sure when it will end, but rest assured, it will. And when it does, it will catch a …read more