Well pace you bets guys; it's that time. The meeting is Sunday night guys with the house and that is basically the last time they have a chance to make a deal. We should not have expected anything more of this, the politicians ALWAYS wait till the last minute - always. In my personal opinion I would feel most comfortable being cash weekend, followed by being long, and then I would feel least comfortable being short. Let me tell you why.
1. Being flat, or cash over the weekend is obviously the smartest choice. This is because NO ONE actually knows how this fiscal cliff deal with resolve, probably not even the fools up in Washington. If you can not control the news, and it is a news driven market -- Do not position.
2. Being long into the fiscal cliff I would feel second most comfortable with, and this is why - We have seen 5 DOWN days now and ANY agreement in Washington will likely send the market higher, quick. Therefore, do not chase the shorts after five down days and probability tells you an up day is coming soon.
3. Being short I would be least comfortable with because of the same reasons I would want to be long, do not chase the shorts -- five down days is not the time to initiate new shorts.
Gun to head; I think shorts are squeezed Monday, but that does not mean a thing; it is just a hunch.
Have a nice weekend, follow me on Twitter if you have not and if you have any questions or comments please visit the contact page.
Ben
1. Being flat, or cash over the weekend is obviously the smartest choice. This is because NO ONE actually knows how this fiscal cliff deal with resolve, probably not even the fools up in Washington. If you can not control the news, and it is a news driven market -- Do not position.
2. Being long into the fiscal cliff I would feel second most comfortable with, and this is why - We have seen 5 DOWN days now and ANY agreement in Washington will likely send the market higher, quick. Therefore, do not chase the shorts after five down days and probability tells you an up day is coming soon.
3. Being short I would be least comfortable with because of the same reasons I would want to be long, do not chase the shorts -- five down days is not the time to initiate new shorts.
Gun to head; I think shorts are squeezed Monday, but that does not mean a thing; it is just a hunch.
Have a nice weekend, follow me on Twitter if you have not and if you have any questions or comments please visit the contact page.
Ben
