Morning Market Look: Better Call Saul


Futures are in the grinder this morning.

The countdown for the government shutdown begins. The doors to Congress won’t open until 2PM today, so it does look like we will see a shutdown unless a big fat rabbit gets pulled out of a hat at the last minute..  Among other things, the shutdown will  likely disrupt Bureau of Labor Statistics employment report for September. This would be the first shutdown in 17 years. Good clean fun.

From S&P Capital IQ:

“The peak-to-trough decline associated with the shutdown of the U.S. government between 12/16/95 and 1/6/96 saw the S&P 500 decline 3.7%, only to witness a jump of 10.5% in the subsequent month.

In other news, China data came in a little lighter than expected.

Mark Cuban goes on trial today.

Warren Buffet finally gets his $2B $GS stake today from warrant conversion.

It’s all about the shutdown today and I’m turning off all media. The inane drones in the media will “breaking news” you to death and there is no upside if you listen.

You should make a fortune this quarter if you stay patient. Understandably, the market consensus is leaning one way now,but  my experience tells me that following conventional wisdom is a mistake with these things. Good luck.

Take a trial here.


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