Dec

7

Big Waves, from Jim Sogi

December 7, 2018 |

 The Hawaii surf report this morning was for 15-20 foot waves and the conditions were good. I got some big ones, but it was a tricky take off. Some really big ones were coming through, so it did not work sitting waiting for the smaller 15 footers because if you sat inside, the big ones would wash you all the way to the inside for a four or five wave thrashing. The best bet was to have a big wave board like my 9 foot Barry Kanaiaupuni big wave gun and drop into the bombers. I had almost a perfect day by catching some big ones on the outside that came right to me where I was sitting and I dropped in and rode all the way on the big wall to the inside. Quite the thrill. The pack on the inside was getting hammered by the big set and got washed in and took a thrashing. I've surfing there for 40 years and know the spot well.

The market report, though not advertised was similar to the day before with 100 point waves. A volatility cluster, or a big wave swell. Before the big waves started, the lack of vol made trading almost a waste of time, and actually especially dangerous. With the narrow range, one tends to pile on the leverage to get some returns, but after months of 7 point ranges, with each passing day of low vol, the survival stats tell you that your time is running out and a big blow out is on the horizon. The other thing is when the big waves come, got to be ready to charge, as well as being prepared for a thrashing.


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