..waiting game

The waiting game is on, the only question now is will it be the crying game for the market by Friday's close?.   If it is the crying game, it would set- up for a memorable close and/ or Monday morning.  The consequences from the combo of a jobs report-unemployment # and the lunch time(?) vote should bring volatility hour by hour,  especially after yesterday's pounding!.    Both could be catalysts or just one,  it could go ugly before it has a chance to get good later.   Just roll the dice, folks, it could be one crazy day!!.    Thanks to today's bleeding and considering we're back to or lower to panic levels from last week,  we're back into the possibility of a reactionary trade to the vote.   Take into account the sell-off in commodity stocks last 2 days and with say a higher oil day,  maybe lower $USD and we'd look here for a long intraday trade.   This is just the reverse of what we've been in saying before Wednesdays trading day of the possibility of an imminent early October swoon in commodity stocks and than a fallout from MOS to other commodity sectors.  The $CRX decline of almost 10% was right up there with the previous early month beatings this summer,  if not the biggest.   Congrats, if you went short on the idea of another big fade, some of those sector stocks are off 20-30% in a few days and that excludes the Ag-Chem stocks.  The pace of this action suggests not only a worldwide slowdown, but a complete halt to all activity and that just won't happen, so be prepared to go long for a trade today or quite soon .  Again, today is all dependent on the reaction to eco data/ 'vote' by the broad mkt.

An early trade possibility is to look short Russian stocks for a day, eg WBD, VIP, MBT, maybe even neighbor stocks like CETV as the Russian mkt is feeling pain once again.