Risk on, risk off, risk on, risk off. Which is it today? Let me think, today is Wednesday so it must be a risk off day.
Is anyone besides me feeling like their head is spinning as the business talking heads on TV declare that the risk on trade or the risk off trade is the order of the day? We all know the market hates uncertainty and every day the smart set on television seems to be changing their call on the risk trade from the day before.
So here is my thought - Monday - Risk Off, Tuesday - Risk On, Wednesday - Risk Off, Thursday - Risk On, Friday - Risk Off. At least we'll be able to put some confidence back in the market.
The moral of the story here is that the fundamentals of the markets make it clear that the markets have no clear bias or direction.
Therefore, until a clear bias develops take what you hear in the media with a very healthy dose of skepticism. Its Risk - Off.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.