Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
Your email will always remain private.

MLR - Premarket Pulse October 3, 2012

With tonight's Presidential election debate bringing the election back into focus, investors might start to toy with the idea of how one "games" the election. After all, Romney has said if he is elected, he would fire Bernanke and end quantitative easing. Would the market's perception that QE could be come off the table cause a sell-off in stocks and precious metals? Some of this is unclear as a Romney administration might also be perceived as providing an inflection point in current economic policy towards one that is more business-friendly, unleashing the entrepreneurial component of the U.S. economy. After all, 80% of all new jobs are created by small companies, and so this could balance any perception of the end of QE. As well, how Romney ends QE is also a matter of discussion since he would be made aware that an abrupt end to QE could wreak short-term havoc in the markets. But can investors truly "game" the election? We tend to think not, and urge investors to rely on the real-time price/volume feedback from the market alone.

Currently the market remains in a short-term correction that has taken the indexes down all of 2% from their recent price peaks. The past two days have seen the market gap-up on the opening only to reverse and close well off the intra-day peak. However, we are not seeing distribution picking up, and yesterday's action simply saw the general market finish near breakeven on lower volume. This morning's ADP jobs number beat expectations of 133,000 new jobs, coming in with a number of 162,000, giving the futures a slightly positive tone for today's open.

AAPL bounced off its 50-day moving average to close in the upper half of its trading range yesterday on higher volume, a normal show of support at this critical moving average. Aside from that the action in leading stocks remains quiet and we continue to wait and watch for potential new buy points in the form of pocket pivots.

Silver and gold appear poised to break out to new highs as they form mini-cup-with-handle type formations over the past couple of weeks and hover just below resistance levels. Investors should remain alert as a new buy point in the precious metals ETFs could soon be at hand.

Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy