Once Debt Ceiling is Lifted SPY Will...

Once Debt Ceiling is Lifted SPY Will Move...

  • +3%

    Votes: 51 43.6%

  • +2%

    Votes: 33 28.2%

  • +/-1%

    Votes: 13 11.1%

  • -2%

    Votes: 5 4.3%

  • -3%

    Votes: 15 12.8%
  • Total voters
    117
BULLS are extremely lucky with the futures barely down....they arent even down 1%, consider that a huge early Christmas gift, with news like there is tonight the futures should be falling at least 3%.


If there is a huge dip tomorrow and a deal magically goes through Friday afternoon before the markets close the SPX will easily close back above 1335-1340+ what I am saying is get ready for at least a 3% rally. All losses for the entire week will be erased.



FUTURES
*S&P FUT
1286.70 -10.10 -0.77%
*DOW FUT
12107.00 -86.00 -0.70%
*NAS FUT
2354.50 -15.50 -0.65%
 
A little bit of personal experience here:

as I said above, I am short VXX and missed good entries, and under water right now.

Until recently I have managed to ignore the drama from Washington believing that it is all just that - a drama. But today I started to get this sinking feeling that I underestimated how dumb the politicians really are and that they won't agree or agree on some crappy deal.

The bottom line: the f*king media has managed to get into my head. I have no desire to change my stance and still believe that the default/downgrade fears are overblown. But it is interesting to step aside and look at one's emotions from the outside. I give the media and the Washington 5 Stars for the Drama.
 
Quote from S2007S:

BULLS are extremely lucky with the futures barely down....they arent even down 1%, consider that a huge early Christmas gift, with news like there is tonight the futures should be falling at least 3%.


If there is a huge dip tomorrow and a deal magically goes through Friday afternoon before the markets close the SPX will easily close back above 1335-1340+ what I am saying is get ready for at least a 3% rally. All losses for the entire week will be erased.



FUTURES
*S&P FUT
1286.70 -10.10 -0.77%
*DOW FUT
12107.00 -86.00 -0.70%
*NAS FUT
2354.50 -15.50 -0.65%
More...

nothing has happened yet to be 3% down
by the way honestly saying why to sell? where do you want to hide? in cash?

basically given what happened in the last 3 years I don't care if it's down even 30%

honestly, deal might come any second day or night. All loses will be erased in an hour and what will you do then with your cash?
 
If this poll is any indication of the consensus, then everyone and his brother is already long and staying long while this thing continues its slide.

Even the perma-bears think 1400 is a gimme.
 
I think we will see a deal that will avoid default. THe market will rally for three solid days. But then the reality of debt problem will return and we will see the markets sell off again. At least through to mid September.

Use next weeks bullishness to position yourself for the pullback.
 
SPY -0.35%, VIX +7%, VXX +/-0%

some wild gyrations today. everybody is so anxious. who is scared more about the weekend: Longs or Shorts?
 
It is beginning to look a sell event when it is raised. Numbers look bad, appetite for more printing diminished. I'm thinking good news, raised ceiling, bad reaction.
 
elevated demand for VXX wings both calls and puts. VXX is roughly flat compared to yesterday close, but the options are bid up
 
an anecdote of the day:

I made a small withdrawal today from my IB account using ACH. I have done this many times in the p ast and it always works like this: initiate the transfer before cut-off, soon after 2pm ET the funds are deducted from equity, the following business day (typically) the money is in my bank account.

Today I initiated the transfer before the cut-off time BUT the money has not left the account even after the market closed. This is the FIRST time it ever happened.

My $1K won't make or break IB. I suspect I am not the only one in the same situation. It is possible that IB is making sure it (and the clients) have as many $$ as possible in case there is a liquidity crisis on Monday. Can't really blame them.


I note ACH is promised to be executed "typically within 1-3 business days" so I am not complaining.

The bottom line: "The fear of a Black Monday is rampant, possibly even among the brokers. Yet another reason to go Long!"
 
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