It's the quiet day which often follows the rollover of the Spi futures contract and with another mildly positive lead from the US, the Aussie market has tickled up 8 points at 1.09 pm. It's quadruple witching day in the US tonight which is, according to investopedia, "A day on which contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire".
My instinct is that this will provide a nice opportunity for the US market to gap down given that it has been grinding up and the Vix index of volatility in the US is below 17 which signals bullish complacency.
In response to that, I've been clearing the decks and selling out of a few of my overnight positions.
I haven't got much else to add except that the title of today's post refers to my plan to get out of my intraday positions by lunchtime. Everything is happening so slowly today that I'm still stuck with a couple.
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