Brutal Day!

So yesterday wasn't for the weak minded. After years of slow upwards grind the ever stretching market snapped, with the Bonds hitting record highs in the process and the Equities having wild swings. The Short Sterling 1 year spread collapsed 16 ticks, which kinda hurt, but I've stayed small enough to try average my way out of it, and personally I think that on days like yesterday you get big overshoots and so when the dust settles slightly we will get a bit of a correction in the yields, cause while data in Europe isn't the greatest, Europe has been sluggish for years but it was simply a matter of how much can you rally on easy policy if you don't have the fundamentals to back it up.
If the market was more two sided from the outset you wouldn't have got this kind of reaction, but then again that requires rationality, and generally the market has a herd like mentality.
The 10yr had a 2 full point move on the US Cash Equity open, and the 30yr had a 3 point move, which suggests a big liquidation of some kind.

Another strategy that has been widely used and seriously got put to the test was option premium selling. Myself along with countless others doing this trade which had been working for years got taken to the cleaners, and it just shows always respect the market, and don't over leverage your account. Cause a margin call is the worst call you'll want to receive, It will take me a bit of time to make back some of the losses i made yesterday but on a positive not, volatility is back, and things are moving, so time to put your day trading skills to work!