The Hardest Game In Town

Steve Burns Posted this From @ Trader_Dante

Good morning folks, 

I saw this post and thought it was incredibly accurate and worth sharing. It really defines all the externals forces we go up against as traders every single day. Some of the things I always preach are protecting your capital by knowing your risk reward. Be diciplined, have a trading plan and recognize that cash is often a great position. You do not have to trade every day if the market isn't giving you the setup you want or if you miss your ideal entry. 

My internet was down all morning so this is going to be a very short post so I can get it out before the market opens. 

The Fed showed that it has absolutely no clue when or if we will ever be able to get back to a normal interest rate policy. If you read between the lines what this really indicates is that the economy is not all that healthy and potential headwinds are preventing the Fed from being able to mmake any decisive moves. 

Gold and miners are getting some action premarket the dollar is weakening and oil is also pulling back a bit. Volatility could be back in play so keep an eye on TVIX and UVXY. In the recent past negative news has been good news for the markets because it kept the easy money policy of the Fed flowing this time we may actually view bad news as bad news as the 

markets are flashing red premarket.

Brexit is still a concern heading into next week and it could keep pressure on the markets. If that is the case we may take out some key technical which that would put even more pressure on the markets. 

Today's Markets 

In Asia, Japan -3.1% to 15434. Hong Kong -2.1% to 20038. China -0.5% to 2872. India-0.8% to 26525.
In Europe, at midday, London -0.6%. Paris -0.5%. Frankfurt -0.6%.
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.4%. Crude -1.3% to $47.40. Gold+1.5% to $1307.80.
Ten-year Treasury Yield -3 bps to 1.56%

Today's Economic Calendar

8:30 Consumer Price Index
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Current Account
9:45 Bloomberg Consumer Comfort Index
10:00 NAHB Housing Market Index
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

ETF's on my Radar 

Volatility                                                               OIL                                      Biotech
UVXY XIV VXX TVIX VMIX VMAX       UWTI DWTI GUSH DRIP USO     LABD IBB LABU      

 Gold                                SILVER         Dollar                                Financials

GLD NUGT JNUG           USLV             UUP                                 FAS XLF FAZ HYG JNK

Minerals and Miners                   Utilities           RETAIL                    Transportation              

XME GDX GDXJ                      XLU             XRT                         IYT  XTN

DUST JDST  

Agriculture                                  SPY     

DBA, DAG                           SPXS SPXL

STOCKS ON MY RADAR PREMARKET

ARAY pr  new order >potential bounce spot 

 *PR = Press Release* 

This weeks Ticker Tv Stocks to watch and their performance below