Indexes slightly lower Wedn pre-market, House Star-chamber, Syria, Dem Debate. My thoughts for a Wedn morning.

Markets are slightly lower this morning after another big runup on Tuesday. @CL is +.2% TLT +.32% Vix.x +2.44%.

A slightly negative premarket this morning. However, the trend is up. The markets are very overbought in the short term, so I would expect consolidation or a pullback at any time.

I took a swing trade yesterday in CARB. I do not plan on hanging onto it very long if it does not move this morning.

The news is pretty benign overnight. Pelosi and Schiff made their routine press conference and yesterday announced they would not be bringing any vote on authorizing an impeachment investigation anytime soon. My guess is they do not have the votes. And hey a star chamber is right up Schiff’s MO. So that is the way they will proceed for now.

Syria is still in the news, although the hysteria has settled down a bit. And intelligent people are starting to realize that Trump’s strategy is actually working. Quicker then I thought. Of course, if you listen to the politicians and the media you think the sky is falling when the exact opposite is true. Things will settle down even more, and the mid-east will work out the problems without the necessity of more American lives being lost. A win-win as far as I am concerned.

The Democrat debate was last night and all I heard was sound bites. I did not watch it as I knew what it would be like. Nothing of substance, a clown show. And from the sound bites, that is exactly what it was. The Dems have no candidate that has the ability to be President of the U.S. as I see it right now. Some are a joke, while some are just not in line with traditional American values. It’s a sad thing, as I once voted for Democrats once in awhile. I voted for Obama in his first term. I bought the hope and change:)

Then in the 2nd term, I held my nose and voted for Romney. The lesser of the two evils. In retrospect, it probably was a coin flip. Romney is no different than Obama in my opinion. He actually came out in support of Antifa! Now that is a pandering politician with no judgment at all. It is one thing to pander, but to pander thinking endorsing Antifa is the right way to go shows some serious critical thinking deficits.

Finally, we still have the IG, Durham, and Barr. Rumor has it those will be the cannon fire that finally takes all the people down that were involved in the coup against the Presidency. We will see:) Some very sharp people see it that way. So I am guessing its more likely than not that is going to happen. Brennen and clapper both shifting the blame to Obama indicate something is on the horizon. But remember it is still DC. People get away with the unthinkable in that town. So until I see it, I will remain cautious.

Also, I expect another shot fired before the release of the IG. Ukraine is dying down, so no doubt they have a new theory that will interject mass hysteria into the media. This is why you have to be careful in the markets. Manufactured News can hit at any time shaking the markets.

Political odds update for Wednesday:

Trump impeached by the end of 2019: 37/63 Against -7pts

Trump impeached by the end of his 1st term: 67/33 -5pts

Senate convict Trump in 1st Term: 82/18 against +1pt

Trump to get the Republican nomination: 77/23 No Change

U.S. Presidential winner:

Trump: 40/60 against +3pts

Warren: 30/70 against -3 pts

Biden: 12/88 against No Change

Clinton: 3/97 against -1pt

LA Governors race 55/45 Republican Favored -2pts I laid 57/43

KY Governors race 65/35 Republican Favored unchanged I laid 65/35

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If you want to follow some of my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.

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Good Luck Today


RickJ’s Handicapping Picks

Skype: Ricca

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