Tuesday, October 1, 2013

Shutdown Hyperbole

The government shutdown is at the center of the financial news for the moment.  Well, we finally got the government shutdown, and the market yawned.  Well, not exactly, because we did get a healthy gap down yesterday morning, which was based on expectation of a government shutdown.  Shutdown is an overstatement, when you still have many parts of the government still running.  Congressmen are still getting paid, no?

This market is now going to be dead set on the debt ceiling, and we just aren't oversold enough to have a good long entry point into the teeth of the fear tactics.  There will be a good buying opportunity leading up to the deadline, but I need to see more volatility and angst before I pull the trigger.  Right now, we are setting up for it, but not close.

Too late to short, and too early to buy.

1 comment:

MM111 said...

Not much panic considering what is happening. All dips being bought still. Makes you wonder if low in.