kaltbaum email

Before the news tonight, I would have told you markets acting just fine…led by financials and now starting to see some growth as MA and V continue to move out…EBAY sets up perfectly…EXPE setting up….KORS setting up back above 50 day…CRM working well…AMZN in a nice set up….RAX acting great and I could go on…BUT…

 

As of this second….dow futures down almost 200 as the assclowns in Washington just f—-ing things up. I need not get into the news except to say nothing is getting done…and a vote that was supposed to happen was canned because of lack of votes.

 

My friends it is really demoralizing to know that on any given day, we can get news that shakes the ground from things that should not be able to interfere….printing of money…higher taxes…massive deficits…debt ceilings…and now the fiscal stiff. I would like to tell you I can predict this crap but I cant. Major indices and market looked fine walking into tomorrow and now we have to deal with a crappy open…and to be honest, there is really no great precedent on how to play something like this. We could gap down and reverse or just keep selling off…duh! There is just no technical analysis that can capture this nonsense.

 

My best guess is just sell the market proxy giving it some early room. Meaning, if the dow opens down 200, give it say 50 more points as a stop. I will email you in the morning before open…and hopefully, there will be some recovery overnight.