This too shall pass!

Cliche number one 

A little Humor 

Cliche number Two

So it appears Congress has decided to keep their heads firmly implanted in their butts and our President continues to be a terrible leader. At least that is my opinion. I am not sure I have ever seen our country so divided.

 The markets clearly do not like what is going on in Washington. As I said this weekend in my video, if congress could remove their heads from buttocks, I felt we would rally. If not >well then, we get what we got for the last two days. The problem with that is we have now broken some key technical levels and it appears to me that congress is going to take this right up until the very last minute before we get some type of resolution. That means more weakness ahead in the very near term. We may get a bounce off of the Yellen news but I believe it will be short lived. 

So if you are not short biased or comfortable trading short then this will be a rough patch for you to get through. 

My approach and suggestion is to protect your capital. Keep position sizes smaller on your day trades, sell your swings and longer term holds or at least a good chunk of them if you are sitting on profits. 

If you do not trade short then sit on your hands unless you come across a very compelling trade/setup then make sure your entry is solid and be quick to take profits. Honor your stops if the trade goes against you. The biggest key to success in though times is PROTECT YOUR CAPITAL!!! 

The positive development on the horizon is earnings season!! It is my favorite time to trade because GOOD EARNINGS trump everything else that is going on. There will be individual stocks to play off of positive earnings reports we just have to find them. 

Eventually we will get through all this turmoil and things will get better. Make the best of the situation and start putting together your shopping list of stocks you want to own if you can pick them up on sale.  

Morning movers and other stocks that caught my eye

$CALD Raised guidance, $FCEL pr, $VVUS active premarket, $HIMX Cramer pump last night ,   

Normally I have a carry over list and a ton of stocks to watch. A lot of setups broke down yesterday and market sectors that have been hot like $IBB have broken down. So I am looking for things to reset then I will rebuild my lists when we start to get a better picture of which sectors will be in play moving forward. 

Good luck trading today!!