TVO Market Barometer 9/7/17: Danger is real, but fear is a choice

If you follow the news or the seesaw-like price action of the market, as a trader there seems to be plenty of stuff to worry about. From a volume perspective, however, hurricanes and impending missile launches don’t seem to be too much of a concern. TVO is now well into positive territory, which means that the boat the big institutions use to navigate their assets is sailing full speed ahead toward new highs. Their course needs to plotted well in advance (it often takes months to establish their large positions) and once in motion it’s not one that can be turned around very easily. Markets are uncanny at pricing in the expected (and a bit of the unexpected as well), so don’t think that you’re privy to something that will sink their ship that the big boys haven’t already thought of.

In the near term, Thursday’s COOL HG shows bulls and bears at a stalemate for the session… not exactly a “run for the exits” sentiment at this point. We are still overbought as far as internals, so the futures market (which seems to have an agenda all its own) has the potential to gap things around a bit, but the long-term outlook is healthy with our General Investment Strategy firmly in BUY mode. Allowing the fear of events that may or may not happen rule your trading (and your life) is a choice. The smart money has already made their’s and it’s up to you whether to follow their lead. -MD

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