I just took a look at Oil I am not sure if I have a bad feed but Brent is in freefall down 11%+ on the day.
I really don’t have much to add to my posts from last week. Little did I realise my post on Friday about South Africa and Omnicron would turn out to be such a global story. I know many people stuck either inside South Africa not being able to leave and people planning to go to South Africa stuck – out.
I am short the S&P500 futures and I am eagerly awaiting the market open to see if there is any follow through to Fridays red ink day across almost all assets. This is really a very important time for the markets as it may just be that markets got pushed down while trading desks were lightly manned on Thanksgiving weekend. Also many people would have been wrong footed with news that Covid is still out there causing problems.
A humble brag, I had placed a short Rand trade on when reading about Omnicron and you can see below my SP500 trade is starting to payoff nicely. I will probably take some profits at the open, I have already closed my Rand trade. The crypto market has bounced in Sydney Monday morning trading so I am expecting alot of volatility in markets today.
I guess one thing worth bringing to your attention in case you missed it, the VIX shot up over 50% on Friday. We are really at this crucial point where we are going to move into a new market regime or we are going to default to more of the same. If only I knew.