Tuesday, October 1, 2013

Tuesday uncertain

The Hoot 
Actionable ideas for the busy trader delivered daily right up front
  • Tuesday uncertain.
  • ES pivot 1675.50.  Holding above is bullish.
  • Rest of week bias higher technically.
  • Monthly outlook: bias higher.
  • ES Fantasy Trader remains long at 1695.00.

And so the Ringling Bros. Obamum and Boehnly circus rolls on.  There's no shortage of elephants and donkeys, but mostly clowns.  Lots and lots of clowns.  Ha ha.  See them point giant oversized clown fingers at each other.  Ha ha.  See them trip over their big baggy egos.  Ha ha.  What would we do for amusement were it not for the 500 odd idiots in Washington who we sent there in the misguided belief that they could accomplish anything productive. 

Why do I even bother doing the technicals?  Obviously the clowns are in control.  And so, in protest, tonight I refuse to look at the charts.  All you need to know about the market will come from the Senate floor.  Or the House floor.  Or the cutting room floor.  Who know, who cares.  A pox on both their houses.  Foo.

The technicals (daily)

The Dow: xxx

The VIXxxx

Market index futures: xxx

ES daily pivot: Tonight the pivot drops from 1687.33  to 1675.50.  xxx

Dollar index: xxx.

Euro: xxx

Transportation: xxx

Accuracy (daily calls):

Month     right wrong  no call  conditional  batting   Dow
                                             average  points

January    5      7      6           3        0.533   -101
February   3      4      5           6        0.692    131
March      5      7      5           2        0.500    121
April      7      5      5           3        0.667    328
May        3      4      6           4        0.636     85

June       6      5      6           0        0.545    543
July      10      2      4           4        0.875    486
August    11      3      6           2        0.813    687
September  8      3      3           3        0.800 

     And the winner is...

No one.  The charts are all bollixed up from the shenanigans going on in Washington.  At the moment the futures are actually running higher but who knows.  One thing I've learned about doing technical analysis is when to pack it in and tonight is one of those nights.  I think I'll just take some time off until this latest piece of stupidity blows over.  So it's Tuesday uncertain for me.

ES Fantasy Trader

Portfolio stats: the account remains at $110,000 after 16 trades (12 for 16  total, 6 for 6 longs, 6 for 10 short) starting from $100,000 on 1/1/13.  Tonight we remain at 1695.00.

1 comment:

  1. I agree. I've done the same. 100% in cash. No sense trying to make sense of it.



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