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 …