Market Commentary Wednesday August 11th

The equity markets continue to sell off this morning in response to the cautious tone from yesterday’s Fed statement. The economic recovery appears stuck in the mud at this point with a “jobless” recovery. Still the VIX is in the lower end of it;s recent range and income trading is still feasible. This week most income style trades can be put on for the Sep cycle. As always, try to have a mixture of long and short vega strategies in play. Over the past month both have been working. With parabolic moves they should continue to give traders a fair chance at profits for now.