Who is going SHORT or LONG into the election tomorrow?

Quote from JORGE:

The fact that Obama's possible treasury pick, Summers, was in support of a transaction tax after the 87 crash has me a little worried. As traders such a tax would put us out of business.
http://seekingalpha.com/article/97964-why-not-a-transaction-tax
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I hope the transaction tax does not happen. But if it does, market efficiency will drop due to reduced liquidity. Either new trading opportunities will emerge or old ones becomes more viable to compensate the tax penalty. Theoreticall it should be a wash though I can't prove it.
 
Quote from JORGE:

The fact that Obama's possible treasury pick, Summers, was in support of a transaction tax after the 87 crash has me a little worried. As traders such a tax would put us out of business.
http://seekingalpha.com/article/97964-why-not-a-transaction-tax
More...

I hope the transaction tax does not happen. But if it does, market efficiency will drop due to reduced liquidity. Either new trading opportunities will emerge or old ones becomes more viable to compensate the tax penalty. Theoreticall it should be a wash though I can't prove it.
 
Quote from AMT4SWA:

One other thought to mention......this leg down COULD (I say could) be the big sell-off leg I have been looking for. Yes, yes, we have had a horrendous selling period so far, but I am talking about a real PANIC down leg which should finally create massive capitulation on a very GRAND SCALE.....unfortunately, with shocking levels of financial destruction (more firms going BUST).

We will see! :)
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that sounds pretty scary....capitulation on a Grand Scale. Do you think it would be the firms going bust that would create the capitulation and not the other way around.

Looks like we got some buying at the end of the day. Wonder if we will get some follow through next week.
 
Quote from AMT4SWA:

Thanks......It has been a juggling act trading the big sell off I was anticipating and also traveling. I flew up to Minneapolis yesterday all while trying to manage SHORT ES positions and also watching the market in general. I flattened all my remaining ES positions today near the close, and I also covered 33% of my Rydex 200% Inverse S&P500 positions at that time......we will see what is ahead.

Looks like the psychological affect of the 1000 level mixed with all the hanging uncertainty did work out well as a SHORTable resistance level. :)
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Well the post election market blowout continues......I just covered 17% of my Rydex 200% Inverse S&P500 position as the ES trades here at 867.00 ....still holding 50% of my Rydex position for any additional downside move. New leg lower looking very very probable going forward.....hang on! :D
 
Quote from AMT4SWA:

Well the post election market blowout continues......I just covered 17% of my Rydex 200% Inverse S&P500 position as the ES trades here at 867.00 ....still holding 50% of my Rydex position for any additional downside move. New leg lower looking very very probable going forward.....hang on! :D
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If we have a Blow out below the previous lows......will you be looking to initiate some longer term long positions? Of course, given that we are in a Severe Bear trend, might as well just fade every rally.


Early next week should be interesting given fridays close :eek:
 
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