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This is unusual:
"Fidelity Investments in its third-quarter retirement report has a new warning for its greedy baby boomer clients: portfolio risk has never been higher as retirees are overly exposed to equities, running a serious risk that the next market meltdown could wipe out their retirement accounts, reported Bloomberg.
What a mess. Yesterday's poc at same level as the composite poc and current price. Kicker is trend lines descending range are closing in on the POC so either buyback desks step up or it looks like a set up for a pullback. Expect the Wall Street wonder boys have notes out to clients showing where gamma hedging for tomorrow is likely. Based on today's action 3090 and 3095 ES look like good numbers.
Schwab revenue from trading commissions was a small part of the pie. What I havn't seen is how much they have been getting from the HFT firms who handle all their customer executions. Considering their customer base is not much on day trading a little front running for a few pennies is probably never noticed.
This weekend Northman Trading (Northy) was all over the record short interest in the VIX.https://northmantrader.com/2019/11/11/megadeath/
His contention is that we are doing a July repeat with a focus on VIX as the leading signal.
My concern is that a highly concentrated trade (everybody and their cousin piling into VIX shorts) allways seems to tip the boat over but it doesn't always mean other things are in trouble.
Fun Fact. the just now 6 point instant drop. Zerohedge notes that when the Financial Times head line hit nothing happened. But when Bloomberg repeated it the algos took over and boom a drop on trade talk headlines.
Reminds me of the Hong Kong protesters showing how the machines are not invincible. Was it Arthur C Clark who said something about a sufficiently advanced technology would look like magic to a primitive people.
maybe the low was finally in here. bias is up now.
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Al_Dente wrote:This is unusual:
"Fidelity Investments in its third-quarter retirement report has a new warning for its greedy baby boomer clients: portfolio risk has never been higher as retirees are overly exposed to equities, running a serious risk that the next market meltdown could wipe out their retirement accounts, reported Bloomberg.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.