Quote: (02-21-2013 12:37 PM)chyamor Wrote:
Quote: (02-21-2013 12:30 PM)kosko Wrote:
Quote: (02-21-2013 11:39 AM)chyamor Wrote:
What are the odds we just get an extension March 1st to further put off figuring out gov spending cuts?
They have to implement the cuts, but either side does not want to get blamed for it. This is the first " cliff crisis " in the last Obama term so he really does not need to play politics with it anymore. My guess... Both sides actually just let it expire and make the blame that "Congress is broken" to shield negative heat for both sides. I always felt that Obama basically used the old "cliffs" to bargain with he GOP to kick the can down the road with cuts to save his face, but reward them by taking on most of the heat if he got a second term. Obama will most likely drop the hammer in the Budget to "correct Washington with a bi - partisan package", and may take an ass kicking for he deep cuts in the public eye - but not sure he really gives a damn. Obama strategically will most likely use here first two years to slash and cut and them try to to use the pennies saved to buy back votes for the Dems in 2015. He used his first two years to basically sell Obamacare and then walked on eggshells to get re- elected - Something tells me this budget/fiscal situation will be similar.
That makes sense. Both sides actually just let it expire and make the blame that "Congress is broken" to shield negative heat for both sides
I might buy some UVXY and watch the market bleed
Careful with UVXY...whilst the trade might work for you - UVXY by design is likely to go to lower.
If you believe we go down from here and want to play leveraged etf's ... a decent trade would be buying TZA with a stop at 10 (the pivot low yday)