there is a growing chorus of voices saying basically 'yeah spy 340 is nothing but a reversion to mean and after that we are going to actually start to hurt in earnest'.
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and if i can be blunt i have no idea if they are net short and fueling the narrative that suits them, or if its just shitty fomo delusions and we reject off 340 and everyone calls it a squeeze but it just takes us all the way back up into the comfort zones.
but you know the thing is, waaaaay tf back when i predicted spy 340, i never imagined this sort of drama in the FX/bond/treasury market.
so really, like real fucking talk, i might price some april spy $250 put spreads.
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im rewatching Boiler Room and honestly the thing i find so jaw dropping about this movie, is that it was filmed in 2000. meaning 8 years later, the world learned that the behavior in this movie that was considered criminal and vile and exploitive was literally nothing compared to what every bank and hedge fund on wall street spent the next 7 years pursuing and getting spectacular rich from in the process.
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also theres a scene in the very beginning where giovanni ribisi is having his job explained to him by nicky katt, its like his first day, and its supposed to be like this huge foreshadowing moment about nicky katt being some sort of large type asshole because he tells giovanni to shut the fuck up and listen to him in so many words when giovanni starts basically popping lip at him and all i could think when i saw it was that nicky katt should have fired giovanni on the fucking spot. like are you fucking kidding me this guys worth literal millions of dollars, hes taking time out of his life to teach giovanni how to make his millions, and giovanni wants to crack wise at him? fuckthat.
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so if the market closes under 3933 in 16 minutes this happens:
QUANTS MAY BE FORCED TO SELL $30 BILLION OF STOCK FUTURES AS
MARKET DROPS; CTA’S FLIPPING TO 83% SHORT IF S&P 500 CLOSES
BELOW 3933: BBG
spoiler alert im not really sure what that is but it sounds bad?
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