{"id":182210,"date":"2022-11-14T18:23:00","date_gmt":"2022-11-14T23:23:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/traders-insight\/what-a-week-i-missed\/"},"modified":"2023-02-10T13:30:19","modified_gmt":"2023-02-10T18:30:19","slug":"what-a-week-i-missed","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/what-a-week-i-missed\/","title":{"rendered":"What a Week I Missed"},"content":{"rendered":"\n<p>Faithful readers might have (hopefully) noticed that I was away last week.&nbsp;I took my first trip outside the US since Covid, and my wife and I took full advantage of the favorable US dollar versus the Euro and Pound.&nbsp;<\/p>\n\n\n\n<p>There are few givens in life, but one of them is that&nbsp;<em>something<\/em>&nbsp;will happen whenever I spend a full week out of the office.&nbsp;I recently&nbsp;<a href=\"https:\/\/www.tradersinsight.news\/traders-insight\/securities\/macro\/happy-35th-birthday-fed-put\/\">recounted the tale<\/a>&nbsp;of my first overseas business trip, which turned out to be the prelude to the Crash of 1987.&nbsp;I won\u2019t belabor all of the events that occurred while I was away, but last week certainly fit the bill.<\/p>\n\n\n\n<p>I knew that I would be missing Election Day.&nbsp;I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result.&nbsp;I figured that was the big event that I missed, especially when I saw US markets trade lower that day.&nbsp;Boy was I wrong.&nbsp;The question is now whether the bigger event was the market reaction to a weaker than expected CPI number on Thursday or the sudden implosion of FTX.<\/p>\n\n\n\n<p>I side with FTX as being more important. This still unfolding situation confirms the worst fears of crypto skeptics. We won\u2019t know the true fallout for months \u2013 if ever \u2013 but if you were hoping for cryptocurrencies to go mainstream, this does nothing to help your case.&nbsp;Ironically, the FTX story began to break while I was in the Eurostar waiting room as I was talking to a reporter who was working on a story about the one-year anniversary of bitcoin\u2019s peak.&nbsp;For obvious reasons, that article took a much different turn.<\/p>\n\n\n\n<p>So, let\u2019s focus on stocks, shall we?&nbsp;While a market move of greater than two standard deviations is always an eye-catcher, ultimately I don\u2019t see this being the start of a new market paradigm.&nbsp;A peak Fed Funds rate of 5% is not all that different from the previous assumption of 5.25%.&nbsp;The Fed may now be more judicious about the pace of rate hikes, but they are far from declaring victory in their fight against inflation.&nbsp;Bear in mind some other important factors.&nbsp;First, the plunge in rates was largely exacerbated by the fact that bond markets were closed on Friday for Veterans Day.&nbsp;That yields are higher today may reflect that.&nbsp;Second, a large portion of Thursday\u2019s rally simply recouped a good piece of Wednesday&#8217;s drop.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Third, and perhaps most importantly, it is not truly uncommon to see moves of this nature during bear markets.&nbsp;During the 2008-09 period, the S&amp;P 500 Index (SPX) rose over 5% eight times.&nbsp;Only the last two were part of the actual bottoming process in March 2009.&nbsp;The others occurred with some regularity during September-November of 2008.&nbsp;We also saw 4 days when SPX rallied over 4% in the days leading up to the ultimate Covid low of March 23<sup>rd<\/sup>, 2020.&nbsp;Indeed, while each of those bear markets ended with momentous rallies, not every rally proved to be the end of a bear market.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Bear markets typically end with an event \u2013 either a U-turn in central bank or fiscal policy, or a climactic sell-off.&nbsp;I don\u2019t think that the hope of a modest change in the pace of rate hikes qualifies, nor do I think that last Wednesday\u2019s decline was truly climactic.&nbsp;We all welcome up days \u2013 imagine the difference in how we would have reacted to a down day of similar magnitude \u2013 but although last week\u2019s rally was certainly a solid reaction to a potential slowdown in rate hikes, this doesn\u2019t seem like THE rally.&nbsp;We already had to dismiss the ideas of both a Fed pivot and a Fed pause.&nbsp;It\u2019s nice to know that they are likely to slow the pace of rate hikes, but it hardly seems like the sort of major event that marks a true market bottom.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I knew that I would be missing Election Day. I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result. I figured that was the big event that I missed, especially when I saw US markets trade lower that day. Boy was I wrong. The question is now whether the bigger event was the market reaction to a weaker than expected CPI number on Thursday or the sudden implosion of FTX.<\/p>\n","protected":false},"author":4,"featured_media":182211,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14700,6,8,9,26,3],"tags":[410,294,10817,14114,207],"contributors-categories":[13576],"class_list":{"0":"post-182210","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-text-articles","12":"category-traders-insight","13":"tag-bitcoin","14":"tag-crypto","15":"tag-cryptocurrency-trading","16":"tag-ftx","17":"tag-spx","18":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What a Week I Missed | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"I knew that I would be missing Election Day.\u00a0I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result.\u00a0I figured that...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/182210\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What a Week I Missed\" \/>\n<meta property=\"og:description\" content=\"I knew that I would be missing Election Day.\u00a0I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result.\u00a0I figured that was the big event that I missed, especially when I saw US markets trade lower that day.\u00a0Boy was I wrong.\u00a0The question is now whether the bigger event was the market reaction to a weaker than expected CPI number on Thursday or the sudden implosion of FTX.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/what-a-week-i-missed\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-14T23:23:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T18:30:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/shutterstock_488767945.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"What a Week I Missed\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"What a Week I Missed\",\n\t            \"datePublished\": \"2022-11-14T23:23:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:30:19+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/\"\n\t            },\n\t            \"wordCount\": 690,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/shutterstock_488767945.jpg\",\n\t            \"keywords\": [\n\t                \"Bitcoin\",\n\t                \"crypto\",\n\t                \"cryptocurrency trading\",\n\t                \"ftx\",\n\t                \"SPX\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Insights\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/\",\n\t            \"name\": \"What a Week I Missed\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/shutterstock_488767945.jpg\",\n\t            \"datePublished\": \"2022-11-14T23:23:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:30:19+00:00\",\n\t            \"description\": \"I knew that I would be missing Election Day.\u00a0I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result.\u00a0I figured that was the big event that I missed, especially when I saw US markets trade lower that day.\u00a0Boy was I wrong.\u00a0The question is now whether the bigger event was the market reaction to a weaker than expected CPI number on Thursday or the sudden implosion of FTX.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-a-week-i-missed\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/shutterstock_488767945.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/shutterstock_488767945.jpg\",\n\t            \"width\": 900,\n\t            \"height\": 550,\n\t            \"caption\": \"What a Week I Missed\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What a Week I Missed | Traders' Insight","description":"I knew that I would be missing Election Day.\u00a0I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result.\u00a0I figured that...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/182210\/","og_locale":"en_US","og_type":"article","og_title":"What a Week I Missed","og_description":"I knew that I would be missing Election Day.\u00a0I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result.\u00a0I figured that was the big event that I missed, especially when I saw US markets trade lower that day.\u00a0Boy was I wrong.\u00a0The question is now whether the bigger event was the market reaction to a weaker than expected CPI number on Thursday or the sudden implosion of FTX.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/what-a-week-i-missed\/","og_site_name":"IBKR Campus US","article_published_time":"2022-11-14T23:23:00+00:00","article_modified_time":"2023-02-10T18:30:19+00:00","og_image":[{"width":900,"height":550,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/shutterstock_488767945.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_title":"What a Week I Missed","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"What a Week I Missed","datePublished":"2022-11-14T23:23:00+00:00","dateModified":"2023-02-10T18:30:19+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/"},"wordCount":690,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/shutterstock_488767945.jpg","keywords":["Bitcoin","crypto","cryptocurrency trading","ftx","SPX"],"articleSection":["IBKR Insights","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/","name":"What a Week I Missed","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/shutterstock_488767945.jpg","datePublished":"2022-11-14T23:23:00+00:00","dateModified":"2023-02-10T18:30:19+00:00","description":"I knew that I would be missing Election Day.\u00a0I sent in my absentee ballot and awoke on Wednesday to find a generally surprising result.\u00a0I figured that was the big event that I missed, especially when I saw US markets trade lower that day.\u00a0Boy was I wrong.\u00a0The question is now whether the bigger event was the market reaction to a weaker than expected CPI number on Thursday or the sudden implosion of FTX.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-a-week-i-missed\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/shutterstock_488767945.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/shutterstock_488767945.jpg","width":900,"height":550,"caption":"What a Week I Missed"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/shutterstock_488767945.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/182210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=182210"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/182210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/182211"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=182210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=182210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=182210"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=182210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}