Mark Skousen, the republican and conservative political activist, today writes in his Forecasts & Strategies hotline:

Several commentators have noted that the stock market has not come up for discussion during the presidential debates, even though it has doubled after nearly four years under Obama. In reality, the rally on Wall Street has more to do with Chairman Ben Bernanke and the Fed than who is in the White House.

So let me get this straight. When the stock market, and the economy (remember, you can’t separate what goes on in the economy from the stock market. The stock market leads the economic cycle anywhere from 3 to 9 months), are going down, that’s President Obama’s fault for Obamacare and his tough new regulatory policies like the Dodd-Frank Act. But when the stock market and the economy goes up, well that has more to do with Ben Bernanke than who is in the White House.

Stupid.

Stock trading teaching us to be logical. Be logical in your thinking, or wash out of the stock market broke is the game. From a non-partisan, non-political analysis of what Skousen said, you realize that if you blame the office of President for a poor economy, or poor stock market, you have to credit the office of President for a good economy, or bullish stock market. If you blame the President when the market goes down, but say the President shouldn’t get the credit when the market goes up, all you do is reveal your own bias against the President. You see how emotionally charged and illogical politics are? This is why you don’t bring politics into stock trading. Stock trading is about chart patterns, support and resistance lines, volume, technical indicators and so on. It’s not about using your stock trading newsletter to suffer your readers to listen to your own political biases.

Politics is made up largely of irrelevancies. Bringing in politics to stock trading is like being a football coach. You have to be smart enough to understand the game, and dumb enough to think it’s important.

Fabian4Liberty came out with a video about capital control. Capital controls are measures such as transaction taxes and other limits or outright prohibitions, which a nation’s government can use to regulate flows from capital markets into and out of the country’s capital account.

Fabian4Liberty says that he saw a bit of news this morning that was confirmation of what he has been saying: capital control is being put in place by bankers around the world. You can watch Fabian4Liberty’s video on Wall Street TV here

We need to track capital controls being put in place around the world. The reason is that if the media tells us something like the condition in Spain is getting better BUT the government in Spain just passed a law that places capital control on its people, well, then we know that the media is being used by the bankers for propaganda purposes to push up the value of publicaly traded banks. So keep an eye on capital control policies, it will let us cut through a lot of the BS we read or hear about in the media and it will help us make better trading decisions.

Inthemoneystocks has been tracking a major trend line support on the S&P 500 that goes all the way back to May of 2012. Today that support was broken. You can watch InTheMoneyStock’s video on Wall Street TV here

Last Friday we had disappointing results from Microsoft, General Electric and McDonald’s. Keep in mind that while most companies have pulled in better-than-expected earnings, investors now are more interested in how they’re doing on revenue. Revenue can give a more accurate picture of how a company is performing, because earnings can vary widely on items like accounting charges and cost-cutting. In otherwords, earnings can be faked a lot easier than revenue.