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Good Morning, Reader!
This is the only August 6th of 2024 we get, so let's make it a great one.
Due to time constraints, there will be no formal newsletter today.
For 'gold'+ members, you can find the full premarket commentary here: https://discord.com/channels/880796469903376454/940580641429389312β
Please see below for a few thoughts:
The Market continues to remain in a heavily put dominated regime -- highly emotional and volatile. You should expect large ranges to the upside and downside (it's not always a 1-way train).
To the point above, the transition zone is gigantic right now (technical term) -- this is not the case in a healthy market. We also have an expected move on the day of +/- 80 points (VIX is 30+) -- the EM was half this amount 2 weeks ago.
If you have no edge, then don't play. Wait for better times, which will come. They always do. Patience will be rewarded in due time.
Rule number 1 of risk management is to preserve our capital.
P.S. If you are new, please click on the link below for an overview of the our 3-step framework as well as definitions of key terms unique to GammaEdge.