The markets are about unchanged this morning an hour before the open.
Of note TLT strong, Biotect positive, Oil up, Financials weak.
A negative bias for this morning in premarket.
I have on several swing trades at the moment. SSO and CSX to be exact. Also, I tried a swing on ABT but exited just prior to the close with a small gain.
I did not like the way the internals were setting up on this one.
Not much happened overnight, except that Seymour Hersh, a Pulitzer prize winning investigative journalist has come out with a bombshell. Essentially he says that Seth Rich is the source of the DNC emails sent to Wikileaks and that the Russian hacking story is False.
Normally I would not pay attention to reports like this, but Hersh is probably the best investigative journalist alive today. Hersh broke the My Lai Massacre coverup during the Vietnam war and also reported on the Abu Ghraib prison mistreatment of detainees.
His report while being avoided by the mainstream media is starting to pick up steam.
Now if there is anything to his reporting, it would have mind boggling implications. Of course, he might be wrong in his analysis. But if I were a betting person I would be betting with Hersh. Not only is he the tops in his field but also a liberal.
You can learn more by googling his name. There is new information coming out on this by the hour now.
Just another variable to set aside to add to the chaos in our political system. This however if true, is a big one. It could rock the markets if proven to be true. So keep an eye on this one.
Looking over the political odds this morning I have to note that the odds now of passing the BCRA by august 5th is 100 to 1. Hard to believe you could get + odds way back when:)
Not much new has come up on the political odds front but I check it every morning. I suspect there will be a number of new odds being posted shortly.
Again for those of ou that are new here, I keep my personal views separate from what I feel the odds should be. I never discuss my personal political views.
So do not try to infer what they are by the odds I set. You probably would be surprised if I set out my beliefs on some of the issues of the day:)
Today I will be looking for another short term swing, But only if the markets look conducive to that. Yesterday was an interesting day as I think today is setting up that way also.
The key is during times like this not to waste your time and money forcing trades. You can blow off a lot of money that way. Patience is the key here. As it is in sports betting.
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
RickJ
