I woke up around 4am this morning and as I usually do, picked up my smartphone and checked US Equity futures,pretty much unchanged. I went downstairs turned on Bloomberg and WTF! S&P down 12.50 points.
Another Russian plane goes down in flames, I did not see that coming.
from the Guardian this morning:
Russia is now Turkey’s second-largest trading partner and 60% of its natural gas comes from Russia.
Economic dependence is one powerful reason, among several, why Erdogan (Turkish President) will not want this latest border incident to escalate into a wider confrontation – although this is something that may not be entirely within his control.
Sergei Lavrov, Russia’s foreign minister, is due to visit Ankara on Wednesday for bilateral talks. Turkish officials said the visit would go ahead as planned, even as they consult with Nato in Brussels. There will be much to discuss.
I would use this opportunity to close out any short positions that are not working (that is until 4am this morning) except for metals, materials or energy (add to any short positions on this blip), add to positions that are working (except Palo Alto you lost that trade yesterday at 4pm ) and count your blessings that Putin is not Stalin.
SPY is getting crushed so there will be a mass plunge on the open as a ginormous (to large to count) amount of stops are going to be taken out. SPY at 207.75 as I write this.
I see a nice fill the gap after sanity returns day trade, need to see the open before I call a buy point.
Happy Turkey Day!
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