The troglodytes in Washington are on my last nerve as they play tag over a few hundred billion. Really, get over yourselves, and allow us to have some semblance of a market again. The election was the last "wet blanket" that hung over this tape and now its the fiscal cliff, The fiscal cliff has always been there, but the market is proficient at prioritizing these mini walls of worry.
You may not realize this, but the S&P is only up about ten points since the election. We dropped about 80 S&P points after the election and rallied back. Many think we have rallied too much, in fact we haven't really moved at all.
So if the fiscal cliff gets "solved" by these numnuts in Washington, what happens?" Will we just meander around these pre election highs or put on another leg higher? Or do we jut just collapse because it will just be a sell on the news event?
So many questions, so little time.
I think we rip.