Today is the last day for Dec. Stock Index Futures to trade. This day in September the close was 1204 in the S&P 500 expiring futures.

Yesterday’s comments for Day Traders should be reviewed! Utilization time!

We were looking for 1196.50 in the Spu. You can see from price action starting after London’s close yesterday, how every “lower low” had trouble following through. In fact, most new lows were met with new shorts selling in the wrong areas, then the commensurate wiggle up as they got flushed out of those new positions.

Last night, going into London’s opening, you got that last push down in the Stock Indices, Oil,and AUD/JPY to confirm directional exhaustion, with all three instruments at or within spitting distance of our objectives.

Attempting trades from the right side of the market, at the big macro levels is the name of the game. Leave the last bits for the computers.

The question now, was that a big enough Risk ON Puke across all asset classes for a good low? Did the entire Hedge Fund world jointly hold hands and pitch all their positions yesterday?

The board is a huge time frame, Lemming Effect Day Trade ,which we are not going to participate in for our longer time frame investors.

Model Trading Portfolio…Current Holdings

No positions

Our view is that the rest of the year will be a High Volatility, Highly Technical, Rumor Driven, Time Frame, Lemming Effect Day Trade.
The question is who’s day? Right now it’s Europe’s.

Medium Term View…

We believe the political and economic risks are now heavily skewed to an all cash portfolio. The markets will become a big day trade.

30 Yr. Bonds …I’m treating 147 as the high for a long time. 143.10 now becomes our upside pivot. Closing above this level
will be short term positive the Bonds and negative the equities.