Friday
October 9, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Yesterday and Today
Yesterday
Prior to the FOMC release of the minutes from last week’s meeting the market was choppy but quiet. For most of the morning the E-minis (SPX futures) gyrated up and down between positive 2 and ā 10, but in a very slow and trending manner.
After the Fed’s minutes were released the market went positive with the E-minis gyrating for 10 minutes between +4 and +8. When the confusion of which way the market wanted to go ended the futures ran up to +20 taking the SPX cash above 2,000.
I think I talked the other day about the SPX squirting higher once it finally broke that resistance level, and it did it yesterday. SPX closed up 17.60 at 2103.43. Below is a graph showing that even when we got to 2000 we oscillated around the number for 30 full minutes before the people short the market could not take the pain any longer and all ran in to buy at once.
But things are still weird in the world, and getting more weird the deeper you dig. Dig this!
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Last month it appears the Fed pumped 400 Billion into the bond market without telling anyone. Are they trying to āwindow dressā their position for $4 trillion? Probably not as they are the only ones in the world who do not have to obey mark-to-market rules. More likely they were offsetting the sale of bonds by the Chinese so our Treasury markets would not fall out of bed. I say that while we are at it, give them the other $600 billion they have in the bond market back too, and be done with them.
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Russia launched 4 cruise missiles toward Syria, but they landed in Iran. At least someone is bombing those terrorists if we don’t have the balls. Besides, now that we have given them $150 bln their Ayatollah says he will never talk with the US again and will not allow inspectors in. Who was the idiot(s) who negotiated that deal with Iran. My 3 year old grandson has a better understanding of equitable deals than what we negotiated.
But the humor and irony aside, the region is getting to be a hot zone with Putin pushing Da Prez as much as he can until Obama finally does something resembling presidential.
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This one is whacky. Read the whole thing.
Current politics are whackier and more entertaining than ever. The narcoleptic American society is waking up from their Prozac comma and asking āWhat the F*#( is going on here?ā Right now Democrats leading poll candidate is a socialist who has never held political office (because he is insane). The Republicans have three candidates leading who are not politicians. People are sick and tired of lying politicians (an oxymoron).
But if that were not enough, Sen. Kevin McCarthy was suppose to walk into the Senate yesterday and be nominated for Speaker of the House. At least that was everyone’s assumption. That was shot down based on McCarthy attacking Clinton and making the Benghazi investigation look political. Or at least that is what people think.
If you look at Wikipeidia it shows (as of yesterday) that Kevin McCarthy and Renee Ellmers (Republican Congresswoman from N. Carolina) were having an affair.
What is disturbing is that the people who posted this information sent it from an office at Homeland Security. Homeland security is now in charge of updating Wikipeidia? I am NOT saying that the President had anything to do with this like he was in charge of the Hillary Clinton e-mail server leak, but someone in a government job did it.
This is election will be more like that of N. Korea than the U.S. The dirty tricks are taking new highs (or lows) and will eventually start to impact the markets. Be careful.
TODAY
We have just had the largest 5 day winning steak in a LONG TIME. Last Friday (5 trading days) the SPX was as low as 1887 and closed last night at 2013. We went from Dow 16,013 to 17,050. Bears…stop thinking about 1867. The new support line is 2,000.
The Eminis are down 2 points at 11:30pm but I suspect that will change for the positive.
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A big day for us with 7 updates.
Some were explanations, not trades.
A separate update is coming.
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Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
My guess is his wife did it, not exercise equipment. But what good is a law degree if you can’t sue people for the mistakes YOU made?
Attorney Stuff
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