Why Not Join The Party?

Posted on Sep 8 2015 - 9:36am by Sharpe Trade

While I dreamt of lazy afternoons spent in the hills of Kauai, it seems that the Eurozone experienced a GDP revision to the upside; courtesy of Italy.  Not surprising.  We had mentioned some time ago that Europe has all sorts of “Ice Cream” stimulus.

And so come to find out … the e-mini S&P 500 Index is up something like 30 ga-nillion points in the overnight.  That ought to make traders who were quietly waiting for a nice, tight, low risk entry on a single stock name quite happy.  Hey … who doesn’t love an overnight gigantic gap the size of the Mariana Trench on a stock, while waiting for said tight entrance?  Right? 

Well, why not take a stab at it? 

I still think that for the entire month of September, your best bet is simply cash as a position.  But you never know which one of this wild girations we receive every 3 hours will actually turn into a directional trend we can ride.

So as you will note in the stocktwits stream, I went long a tiny nibble of USD/JPY this morning.  If you take an average size trade position?  This position is only about 5% of that.  So again … a tiny nibble, long risk in the form of USD/JPY.  

If it rallies further, I can add to my position.

If it falls apart?  It will be a neglible loss.

I’m always up for a little patry …

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