We are going to have an interesting week. If the actions in the futures hold up, the market found its excuse to sell off. The excuse: 'the assholes'.
The party line folks or the freshmen Republicans (who apparently do not know squat about the market-mechanic effects of not raising the debt ceiling) or the reps 'changing the goal line' or some schmuck with a 'pledge' are going to understand very quickly what their bullshit is doing as talks appear to dissolve.
The market will bitch-slap these potential 'assholes' (along with the rest of us), and make them eat their own words.
The next few days will be interesting.
I am clearly annoyed with the political aspects of this thing. And if shit does hit the fan, I will blame those that chose to not close 'tax-loop-holes' for corporations because they wanted to cut programs designed to help the less fortunate. (Of course that is my opinion, and will be the opinion of the vast majority, as the vast majority feel they are in the 'less fortunate' camp.)
Financially, I can careless about this tit-for-tat. I am cash heavy, as many of my trades achieved their sell points, and have been itching for declines like the one we are about to have, so I can re-enter and open new positions. Regardless of the bickering, the debt ceiling will be raised, one way or another, which will make these declines a buying opportunity.
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