The Best of War and More: Spill the Futures, Dig That Girl

Fireworks in the futures markets last evening has apparently not added up to much today, as the U.S. airstrikes in Syria coupled with a dismal jobs number this morning still saw dip-buyers stepping in to try to stabilize the major averages. 

As I write this, all major averages are slightly green, with obvious war-related plays like RTN dealing with an initial gap higher. 

Banks, such as GS, which largely face earnings in the next two weeks, are still a sore spot for bulls. However, bears remain unable to sustain much in the way of downside momentum in this market. 

War is often said to be bullish for stocks, as the old Wall Street axiom goes: "buy on the sound of cannons, sell on the sound of trumpets." Still, I am interested to see if gold and bonds can sustain their initial moves from overnight.

Interestingly, gold and bonds are still hanging tough despite the risk-on bounce in equities--Also note the VIX ETFs still holding green. 

Overall, we are off to an amazingly quiet start to the Friday cash session when you consider the event of last evening and this morning's jobs number. I am not in a rush to put on a bunch of fresh trades, but we do have quite a few ideas to be monitored closely.