ELECTION DAY!!!!!

I hope everyone went and voted today! You can't complain without trying. And don't make other's responsible for your problems.

The market today continued it's 'chop fest' today. Basically what I mean is that the MA's are flat and adding on strength is not working at all. Today we held the majority of the day (for 3 hours) then we closed at the LOD. I was tweeting that the risk to reward was in the favor of the bears at around 2 PM. This was because of the resistance directly above, and the 50 MA that we had failed to regain in about 2 weeks. Into the future I would be tactical  and careful. We still have no direction, and what I would like to be clear about is that once the market wants to go - there will be A LOT of money to be made. Just because you miss the first day it doesn't mean you will miss the rest. I would rather be conservative with my calls and save capital than risk more of it for trade that won't work.

The QQQ's again are very similar to the $SPY's but a tad weaker. A lack of volume on up days and the MA's declining leads me to believe we can go down further. We will know soon enough though. 

Apple. Like always, I need to talk about Apple. Apple again failed to cross and take back the 200 MA. I tweeted that if it were going to be stronger we needed to reclaim that area. Because we didn't and we were still very lethargic today I suspect that we fall more. But I would like to give it one more day to be sure. I say this because of the tight consolidation are we are in right under the 200 MA and the lack of volume we saw today on a down day. 

Google. Google is still a hold in here. It didn't really do much at all today (just like the whole market). I would hold, but not buy here. The lack of volume today is nice because it was a down day but overall we didn't have a great volume anywhere today so a lack of volume here isn't a surprise. 

GOLD ($GLD) had a great day today despite the weakness I had seen just a day prior. I wouldn't chase but a slight pullback on light volume would warrant a buy long (I like $GOLD the best over $GLD).

In closing I would like to say that I am not looking for many swing trades. I do not see many opportunities. Stay cash. Cash is king. 

I have no positions as of now. 





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