Friday, December 21, 2012

Markets implode

Futures are down big due to overnight developments.  

"House Speaker John Boehner's big idea for a backup "Plan B" exploded Thursday night when, after days of wrangling with his own troops, he realized he didn't have enough votes to pass the tax cut part of his plan"

Markets have been rallying on low breadth for quite sometime.  If you read my previous posts, I have been advocating less exposure to the Markets.  This implosion overnight in the futures was an event  waiting to happen.  This is a news driven market.  If you are long, sell on any bounce, go back and enjoy your holidays and assess the situation in 2013.

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