Donnie hasn’t lobbed any bombs into Syria yet, but the market is scared shitless that he will. That’s why the market seems to sell off at days end and not hold gains. It sacred of overnight global risk.
When the POTUS tweets that”missiles are coming” it makes the market stand up straight.
Why would you get aggressively long in front of such uncertainty?
Day traders are having fun, not a game that I play, but good for them.
As choppy as we have been, there are certain interesting signals to watch.
1- Biotech, which is the most risk on sector, is dramatically outperforming
2- The VIX is behaving
3-Treasuries aren’t getting bought aggressively.
That’s my take. One day at a time though. How much of an attack on Syria is already discounted? Maybe most of it. The market isn’t stupid.
To paraphrase the Rolling Stones song Gimme Shelter, “We’re just a tweet away”