Apparently grilled snapper has been a popular choice as of late, as participation has been dying down and equities are now officially running on autopilot. Curiously participation as shown yesterday on the Zero indicator was mainly bearish with prices pushing sideways and then climbing higher overnight. What most likely follows next over the coming days will be nothing but stop runs and more noise aimed at hassling any remaining participants.
It seems that, until the presidential election is finally over, we will have to resign ourselves to playing an extended game of pinball. Of course sitting the remaining weeks out altogether and going on autumn vacation is an attractive option, but my subs are rather unforgiving when it comes to slacking on the job. So I’ll be doing my best to guide you all though the unfolding mess to the best of my abilities. Be advises however that playing the swings during a sideways period can easily lead to over trading. Make sure you are aware of the potential traps and thus keep your position sizing to a minimum whilst allowing for large stops.
We now find ourselves deeply embedded in a technical information vacuum, while at the same time we are being bombarded with a veritable smörgåsbord of market rumors, conflicting news, political machinations, and pre-election witch hunts. As a financial blogger and trader this is hell on wheels and I can’t wait for this entire freak show to at least slow down a little post November 8. At least one would hope…
Last week’s decision to hold through a trading bot driven low participation reversal higher appears to have been a good one as of right now. At least the campaign managed to survive the weekend and that’s no small feat in this volatile market environment, which incidentally is why I am choosing my words very carefully. The ides of October often bring us stormy weather as well as volatile markets. Given ongoing fears of a large scale sell-off another momo update seemed appropriate.