Which is an improvement...
After monday I thought the down was setting up, But all stops were hit for break even as the positions were taken the previous friday before the big dip monday.
I said everything I have says October should be a very bloody month for bulls. BUT it is very hard to trust these signals with the Tax breaks that are being published. This is why the market took off when the current administration took office and saved us from a nasty decline that was setting up then.
Though very cautious It is hard to take any short position when this is the main news event taking place now. This should be a down week as short and medium term cycles are bottoming this week. So I think it prudent to wait for a better set up in possibly another market to set up.
Right now I am watching for a bottom in Gold around 1257 this week for a very nice long set-up. ... Yet this makes no sense because with Gold going down one would expect the market to go up. So to much conflicts at this time IMO to place any bet. I am instead looking for individual companies to short during this time.
Thoughts welcome...