(Speaker of the House <b>John Boehner announces a budget deal in the Capitol in Washington Friday night, April 8, 2011.</b> The US Senate hurriedly passed a stopgap spending bill to fund the federal government for one week to avert a government shutdown at midnight.)
2/ the last time there was a government shutdown was Dec. 13, 1995 to Jan. 10, 1996, and the S&P 500 dropped 3.7% over that period, only to snap back up 10.6% by mid-February, according to a recent note by S&P Capital IQ.
reckon there's considerable support at 101ish, but if that is taken out, could mean large falls in the days to come, maybe price goes back to 4 digits.
in a sense, i'm holding out for 30-40 cents of potential profit (current price 10135) on my (half) short, but risking a fair amount (say $1.50 dollars) in the process, which perhaps doesn't make sense.