Smart Money and the Election

Corona Del Mar, CA

Howdy Friend!

Stocks continue to climb a wall of worry ahead of the election in two weeks.

Guys that use "funnymental" info to supposedly time the markets can't seem to figure out why stocks continue to rise and gold has been fairly quiet since August.

They are right and of course the markets are wrong (said sarcastically).

It was those kinds of frustrations led me towards systematic trading all those years ago.

Back in 2000, the "new normal" was that stocks couldn't possibly go down anymore because of exponential tech growth. Stocks crashed like a lead balloon within months.
In 1998, the system was doomed because LTCM had dealt it a death blow. Stocks rallied like a rocket.
In 2007, housing "could never go down" which of course was ridiculous.
And on and on people's predictions are as useless as a milk bucket under a bull.

I know about Klaus and his band of goons at the WEF in Davos talking about inflating away the debt, and the usual suspects' doom and gloom scenarios...

...books like Stealth War that discuss the West banding together to push China off a debt cliff...

...and on and on.

But a trade is a trade. That's never a factor to me because I subscribe to the "too many cooks in the kitchen leads to bitchin' " school of thought.

With that said...

The Smart Money for the S&P 500 index remains on a buy signal since July.

I can't remember who said this, but it was like a slap in the face to me.

Maybe it was one of the Turtle Traders like Bill.

He basically said "do you want to know why prices are moving or do you want to make money"?

In other words, trying to connect some sort of story to the reason a stock is moving up or down DOESN'T make money consistently.

It's a bear trap that grabs your portfolio by the leg and keeps it stuck in agony until you set it free.

P.S. Have you heard about my $1MM commitment to Shark Tank's Kevin O'Leary?

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Trade smart,

Dan "Prince of Proof" Murphy

Disclaimer: The results listed herein are based on hypothetical trades. Plainly speaking, these trades were not actually executed. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under (or over) compensated for the impact, if any, of certain market factors such as lack of liquidity. You may have done better or worse than the results portrayed.