01 October 2012

SP 500 and NDX Futures Daily Charts - Indecisive Day


A typically phony trading day that started out gangbusters but then quickly faded away to close nearly unchanged.

The Manufacturing PMI came in 'better than expected' which provided a little sugar rush.

Bloomberg TV is in panic mode, promoting the candidacy of Mitt Romney and his economic cause in the last month before the election as well they might given his self-inflicted slump at the polls.

I am still long bullion and short stocks. I did not tinker with that position today but I can see a question of balance coming as the new quarter grows a little older perhaps.

Let's see what happens.