The childishness in Washington continued yesterday and the $SPX dropped 10 handles. Not bad considering. The Nazzy $QQQ was pretty much unchanged and the Russell 2000 $IWM was actually green. So why all the fuss? This shut down is all verbal diarrhea , sabre rattling and political jockeying. Getting a straight answer out of any of them is like nailing jello to a tree. Speaking of jello, there were reports of a very prevalent odor of alcohol in the halls of Congress the other night, so maybe the stress is starting to take affect and jello shots are on the menu down there. There is less finger pointing at the Whitey Bulger trial.
Futures are higher around the globe this morning. We’ll know if it sticks a little later. You wont be able to see the Statue of Liberty today, but you will be able to buy stamps from your local bankrupt U.S postal office. About 800,000 non essential federal employees will be off the job today.
European stocks have been the best asset class in 2013. $EWP $EWI $EWQ $EWG
The shutdown will cost us $200 million a day. Yawn.
$AMZN to hire 70,000 workers to meet seasonal demand.
$SNE super high def tv’s are flying of the shelves because of Abenomics.
$MRK is laying off 8500 workers, that’s about 10% of its full time staff.
National Parks will be barricaded today, but Yogi and Boo Boo will have their way as Mr. Ranger wont there to curtail their tomfoolery and skullduggery.
I’m expecting a G Force, face ripping, greed fueled, performance chasing melt up in this market into year end. Fourth quarter earnings start soon
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