Looks like we are heading down this morning in the Stock Market. No surprise with all that is going on now.
We got a nice rally yesterday but the news is getting in the way again.
Bombing in Syria has not started yet. But the rhetoric between the White House and Russia is heating up.
Speculation is we are heading for WW3. That is overblown. And it’s no certainty that bombs are going to be heading Syria’s way despite the way it looks.
I assume the back channel talks are around the clock right now and it would not surprise me to see some deal worked out for intensive inspections at the last second. Trump ran on staying out of wars and I doubt his position has changed. He was dealt a bad hand for foreign policy and amazingly he is doing a pretty good job cleaning up the mess that was left behind. (My observations of course and there are many others that would disagree)
Then we have the Mueller probe reaching Defcon 4:) Comey goes on his book tour starting today. And Lynch enlightened everyone that she and Clinton only talked about the grandkids on their famous tarmac meeting. And she added Clinton stopped into the plane to come in from the heat:)
You really cannot tell what is going on by listening to the media. Its almost entirely either spin or completely false. That’s not to say that what you are observing has the potential to have serious ramifications but all is not what it appears by a long shot.
So if this is keeping you up at night, you had best head to “The Conservative Treehouse” and read their analysis. It’s almost all factually based. Of course, its a conservative site but the facts and timeline they layout is as accurate a one as you will find. In addition, their analysis is most likely as logical as you will find in the madness we are seeing in the U.S. right now.
And I almost forgot Ryan is not going to run again. That will leave the speaker of the house open but its likely right now that the Democrats will take control of the House come January. Unless things change dramatically. The odds are now 5 to 2 in favor of the Dems. Myself, I think will be a bit close….maybe 3 to 2 in favor of the Dems.
So, we have all this uncertainty right now, and its reflected in the Stock Market Volatility. If some agreement is worked out that prevents the Syria bombings from starting, look for the Stock Market to shoot higher. If the bombs start dropping then watch closely as to what Russia and China’s response is. If its aggressive than expect a plunge in the stock market.
I now have a 100% position in AMTX. We got a nice rally yesterday in the stock, any follow through today and I will be looking to take a profit.
If you want to follow some of my trades along with 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.
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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