Turrbul Tuesday?

12:46 am (Hawaii) Some Halloween. I stayed in, hardly any trick or treaters came by and it was couch potato night instead of wild partying. This is what happens when people get old. Late nights and bad traffic and deafening music add up to a non-necessity. But this is interesting: Dow futures are -150, S&P futures are -22.50 and Nasdaq futures are -40.25.

Asia tanked overnight: Nikkei -1.7%, Topix -1.25%, Hang Seng -2.5%. Europe is far worse: Stoxx -3.9%, FTSE -2.5%, Dax -3.8%. So much for Sarkozy and Merkel and all that bullydoodoo talk last Friday. Don't mean squat now. It was all vapor.

I'm all cash so this doesn't hurt or help me. Okay maybe it hurts a little that I didn't pick up some FAZ at 35-36 even though I had HOPED it would fall to 35 when it was hovering at 42-44. I'm just weak that way sometimes. FAZ was 39+ at the closing bell yesterday and 40+ afterhours. I suppose it'll start trading premarket at 42. Still a long way back to 81 and even further to 100. I don't know when that happens. It just will. We could see a retest of 35 this week. All Sarkozy and Merkel have to do is start another ballroom dance to get the markets titillated again.

Merkel, Sarkozy & little white lies (update 1:35 pm HST)

8:40 am (Hawaii) Starting to hate thinking about trades due to headline risk, ie political posturing, ie (necessary?) white lies about the future. So Sarkozy and Merkel say one thing publicly and fight a losing battle behind closed doors. The German people don't want to fund anybody else's party, let alone another nation's. But politics continues to move the markets. My new motto: they're all lying and the charts prove it.

SPY 15-minute, 2 week chart

Pop goes the balloon. 

Can Sarkozy/Merkel patch it again? 

FAZ daily

55 on the radar

Since my last FAZ chart, I've added a lower megaphone line to account for the new recent low sub-50. Since the downtrend of 6 down days in 7 sessions, price seems comfortable in this new range with 55 as a key level. 

Update 1:35 pm Back at the desk after doing some of my work outside (therapeutic to say the least). I bought FAZ earlier at 56.00 and sold at 56.08, them bought again at 56.35 and sold at 56.55 afterhours. Both times I used stop orders, once on the downside and the other on a potential upside. I like FAZ, obviously, but with AAPL reporting tomorrow and the potential of Goldman Sachs and Bank of America lying (again) during their earnings reports tomorrow, stay 100% cash is good enough. Besides, FAZ often works better as a day trade rather than an overnight hold. 

Looking to enter AAPL, which is at 419+ afterhours, down 0.7% today.