Europe was center stage yesterday and in particular Germany and if you want to narrow it down more Germany’s largest bank Deutsche Bank.
Es futures went as low as 2135 overnight but have recovered to almost unchanged to 2144.50 an hour before the open.
Just when you think it might be the government shutdown that would trigger a cascade down its something else. And reality is its always going to be something as the financial stress’s , geopolitical triggers, along with extreme political differences here in the U.S. is going to make trading very interesting the next year.
I have no idea how everything is going to wash out but I am certain its going to make waves in the markets from time to time that you need to be aware of. These are very uncertain times right now perhaps the most uncertain I can remember in my short 70 years. In addition the excesses show no indication they will be abating anytime soon.
One could look at it in a analytical way with the idea that this is an opportunity to view the world in a chaotic state where the previous 70 years after World War 2 have been too boring:)
Myself seeing a glimpse of what might be around the corner I prefer boring! But in poker parlance you have to play the cards you are dealt not the ones you wish you had. AA does not come along often enough in Hold-em:)
One final thought from the finest trial attorney ever to try a case in any courtroom around the world , Gerry Spence. When your stressed about outcomes to the point where even though the outcome is certain you fight it tooth and nail, at some point the best approach is to “Let go and enjoy the fall”!!!
This advice over the years has gotten me through some tough times. Its logical and makes sense. If you have never heard of Gerry Spence then you owe it to yourself to read several of his books. “Trial by Fire” and “Gunning for Justice” are two of his best. Pure entertainment along with factual based stories of many of his trials. And if your still wondering why I would be so up on Spence you need only to learn that when Imelda Marcos was facing a federal criminal trial she had the money to hire any attorney in the World to represent her. She lived in New York City at the time but choose a trial attorney from Jackson Hole, Wyoming, Gerry Spence.
She never had to take the stand. Case was over at the close of the governments case.
Ok enough rambling this morning:) My guess is more chop today unless we get some kind of resolution of DB and nothing new to alarm the markets.
I had a swing trade long yesterday and in all the carnage managed to take a small profit on the trade. There have not been very good opportunities the last few days due to the underlying character of the market. That will change but until it does caution is warranted.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
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