Follow the big money, they knew that a deal was going to happen weeks ago. Now the retail crowd can feel it, and it is showing up in the price action. But when you have so much money that is now looking for a deal and to sell a pop on the news, it sets up a potential buy the rumor, sell the news scenario. Especially if the news comes out and takes us to anywhere close to SPX 1450. But it is close to the end of the year so I doubt any selloff will have legs. So it will be tricky to game, but I do think that we'll see a selloff at the beginning of 2013, even with a deal.
It may just be best to wait for the news to come out to sell, I am sure that short sellers are very cautious here, and the longs seem very eager.
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