Don't be fooled

Good morning folks,
I have lots of people asking questions about the market and where we are headed. I am getting comments like now that the bloodbath is nearly over are you ready to start buying swings. Let me be clear> I do not feel as though we have even entered a bloodbath >>>yet. 

In looking at the charts of the indexes it appears to me that we are just getting started. I do not say that to put fear into everyone. However, lets face it , we have been on a tear for the last 5 years. The market has been steadily climbing and every dip has been bought. At some point there is bound to be a dip that doesn't get bought. I firmly believe that between the two emotions Greed and Fear. Fear is the dominate emotion, it can take control of even the most intelligent, sophisticated , rational individuals. It helps to explain why it takes the SP-500 4 months to climb 200 points and less than a month to drop a hundred. If real fear enters into play the action could become much more dramatic. 


So what does that mean?  Now more than ever you need to make sure you have a plan in place to deal with the unexpected. Don't start telling yourself things like, its overdone we will bounce back, OR there is no way we can go lower.

Hold and hope is not a strategy. The ice is thin right now and I would suggest that there are some cracks starting to form. So when you are treading on thin ice do you pay attention? Do you respect the ice and start making a plan of action to avoid plunging through? Believe what is happening in front of you, stay calm and execute your plan to escape certain danger. 

Recognize that corrections are good. No one really knows where the markets will be tomorrow all you can do is play what is in front of you and have a plan for how to navigate each potential outcome. 
Keep an eye on Miners, Gold, Silver volatility ETF's and short indexes


Morning movers and other stocks that caught my eye
$OMER pr decent daily, $IDIX was active last night, $TASR pr, $ETRM 50 dma bounce?, 

Seeking Alpha

Today's Markets:
In Asia, Japan +1.2% to 14180. Hong Kong -0.6% to 21269. China closed. India +0.2% to 20261.
In Europe, at midday, London +0.2%. Paris +0.2%. Frankfurt -0.2%.
Futures at 6:20: Dow -0.1%. S&P -0.2%. Nasdaq -0.2%. Crude +0.9%to $98.03. Gold +0.5% to $1257.20.
Ten-year Treasury Yield -1 bps to 2.62%

Today's economic calendar:
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
9:00 PMI Services Index
9:00 Treasury Refunding Quarterly Announcement
10:00 ISM Non-Manufacturing Index
10:30 EIA Petroleum Inventories

Notable earnings before today's open: ADP, AGN, ARW, CCE, CKSW,COCO, CTSH, CVG, EL, EXTR, GRA, GWPH, HPY, HUM, IACI, LAZ, LII,LVLT, MDC, MMP, MRK, MTH, NDAQ, NICE, NS,RDN, RL, STE, TSRA, TWX

Notable earnings after today's close: AFFX, AIZ, AKAM, ALL, ARMK,ATML, AVNR, BDN, BKD, BMR, BOFI, CALD, CBG, CINF, CNW, DIS, DRIV,EDMC, ENS, ENTR, FEIC, FISV, FLT, FMC, FORM,GEOS, GIL, GLUU, GMCR,GPRE, IRBT, KIM, LNC, MAA, MRO, MTD, MTGE, NXPI, OESX, ONVO,ORLY, OSUR, P, PAA, PMT, PNNT, PRU, QUIK, RE, RLD,SCSS, SFLY, SNCR,SPF, SRCL, SWI, SWIR, SWM, THG, TQNT, TSO, TTMI, TWO, TWTR, TYL,UHAL, WGL, WNC, XL, YELP

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