As interesting as futures prices and implied volatilities are, I thought I might share an actionable idea today.

Yesterday, on a day when the SPX was down more than 30 handles the VIX was up just a little more than 1%. What gives?

With the passage of the debt ceiling in the house and likely the senate tomorrow, traders should remember a few things about VIX and trading today

Traders, while the VIX may have finished near the high of the day, the expectation is that it will not stay there.

The next few days should be fun. Before trading be thoughtful, but do not be afraid, those who sit in fear miss opportunity.

I think there is a lot more slack in implied volatility and expect it to rise as the US Debt situation becomes an all-out crisis.

I have a really bad feeling on the state of the market.

While many advise avoiding the tech sector until September, some of the stocks are interesting now having experienced sharp declines in the last few months.

The news on Friday afternoon that there was no deal to raise the debt ceiling is likely to be received very negatively by market participants at the opening on Monday.

Yesterday I took notice of how hard implied volatility had been sold off in major tech firms right after they made some huge stock moves.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

While Europe leaders play "Extend and Pretend", and Washington plays political "Chicken" the equity markets, based upon our indicators, remain remarkably sanguine.