It would be nice if the Clowns of
Capitol Hill was a reality television show, but unfortunately it is a
very real broadcast where the contestants get to vote off the
populace/viewers. With the first DOW component Nike reporting,
earnings season has kicked off, however it looks like the clowns are
playing kick the can. Yet again a government shut down is being
threatened and although this is more akin to powering off an
unplugged lap top, there will still be serious ripples in the market.
If ever there was a week to have a solid game plan, this would be
one of them.
Last week breadth was very stretched on
the shortest time frames I follow and that has waned somewhat this
week, however the longer term readings remain elevated. Regardless,
there is an identifiable headline risk this week that takes
precedence. With this increased market risk event on the horizon my
game plan for next week is to simply avoid opening new positions and
be acutely aware of my current risk level. Market breadth analysis
for this week is not so important to my overall outlook.
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