Red skies in the morning sailors take warning!

There are definitely storm clouds gathering in today's markets and understanding that, is in effect making money. No matter how this next week plays out and then into the Fed's FOMC meeting. I will be very nimble and cautious on new positions, The focus of this list is very tight and the short set ups could be the key. But remember the markets tend to price in events, and with all that hangs over this market the markets has maintained its longer term bullish bias. But the signals are still pointing down and that needs to be respected.

On some positive note..

Factory orders surprised to the upside

Consumer spending rose by .08% versus expectations of .04% gain

Both a positive and negative.. With this weeks job's speech by Obama the disappointment factor is now a factor in the markets just based on everything leading up to this speech, which also will be under the microscope of every pundit that they can line up. This combined with the recent "no growth" employment report last Friday will then push all eyes on the Fed at the FOCM meeting the 21st. This could be the moment of truth for the markets. It's hard to believe the Fed will not take any action. This will come in thier statement.

We know what QE3 could do for the markets. it's been shown in QE1 and 2.

Take the good with the evil of a QE3 we still need to be on the right side of the markets.

The negative outlook is much worse

With out Jobs there can not be much of a recovery and where are the jobs to come from? That's the trillion dollar question. I sometime find myself getting sucked into the infrastructure build out that QE2 promised us. But as out guest on Friday pointed out  its not like we need to build new highways to get places, Everything is there in place. So any talk of building  highways and bridges might fall on deaf ears this time. What this economy needs is an enema of suck it up and take responsibility juice. Not that it will get us through this tough time, but maybe get people to realize that we have made some mistakes and the damage is done, and to correct it is going to hurt people, we all will have to pay the price. Now who's the first person to stand up and pay there share............Cricket.......silence.....cricket.

That's right I am afraid we are screwed. Politicians are puppets to the lobbyist and the big corporations. Everyone is going to be watching out for #1

I always been the most optimistic person I know, I felt it was a healthy lifestyle, But over the last few months I have lost some faith in out leaders and our system. To the extent to not feeling comfortable with our future and even more towards my children's future. It's funny to think I can make a shit load of money shorting this country the question is can I mentally block out the hope. Cause hope keeps you betting on America. 

This weeks Watch list has some great shorts and I will be entering them.

Prediction

Employment numbers get better going forward

Obama's Speech is the Same ole ____

Germany Vote this week goes in favor of the bailout being legal

There is some type of wording change in the FOMC release that is taken positive by the markets, Be it QE3 or hint towards it

From that point on I was about to write..actually wrote then deleted. Market finds hope, then I remembered i stopped using that drug. I want to take it one day at a time.

Here's this week's 10 for 1000 Watch List http://daytradingradio.com/10for1000