It’s Sunday night and the government has failed to come to any kind of terms prior to the self-imposed Monday deadline. As of this writing, futures are down almost 1%.
My guess is that the weakness in the futures is owed more to thinly-traded panic moves than any genuine concern on the part of broader market participants. However, one has to wonder if it really will take a huge market plunge to finally jolt congress into action like we saw with the original TARP voting. As long as the markets remain calm, congress seems to think that they don’t need to actually do anything.
Assuming that I am right on both counts (that the market won’t drop much tomorrow and that Congress won’t act until the market drops) – I am looking to sell some shares this week to raise capital for future trading opportunities…
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