Still Bullish

war 300x168 Still Bullish

“All hope abandon ye who enter here.”- Dante

More political humor and posturing today. Boehner lost his happy face from last week and drilled the left for being silly. The Dems want huge tax increases , but have offered little in the way of cuts in entitlement spending. Boehner wants another pack of Camels and a fifth of single malt. The beat goes on, and we suffer another day.

Yes they are posturing and “negotiating”. Remember, when you ask for the stars, you sometimes get the moon, both sides know this, and it will eventually come down to the first one who blinks.

The truth is, both side really do detest each other. Kind of like the classic dark comedy “War of the Roses” when Kathleen Turner said to Michael Douglas,  When I watch you eat. When I see you asleep. When I look at you lately…I just want to smash your face in.” Yeah, they hate each other.

It will get fixed, I truly believe that the investment community is starting to look at Washington as they now do the rating agencies. They are waste of time and just take up space.

We’ve become hardened and smarter after the Europe fiasco. Shit eventually gets handled and the “Street” knows this. There will be bumps along the way and if you can trade the levels you will be fine.

As I always say, its all about overbought and oversold and all the stuff in between is just noise.

Nothing positive has come out of these talks yet, but that tape remains firm. This could turn on a dime, but for now the bulls are in control.

I am cautiously, doubtfully, scarily bullish.

Still waiting on that $AAPL “special dividend”, I’m also waiting for the next Powerball drawing. I’m due.

 

Joe Donohue

Joe is a full time trader with 25 years experience. He is a senior contributor and investor in Stocktwits and has been seen on CNN Money and quoted in Marketwatch, Forbes, Reuters, NY Times and Wall Street Journal.