Take the Money (and Dramamine) and Run!

Posted on 08/01/2011

0


If you’re a fan of, or at least not afraid of volatility, today, and the past few weeks are the things (trading) dreams are made of, particularly in the typically slow “dog days of summer”.

As we wait for Speaker Boehner to take to the mic for some more (predicted) self aggrandizing, followed by a “dramatic” vote, which should beget plenty of DC backslapping tomorrow.

http://www.nytimes.com/interactive/2011/07/22/us/politics/20110722-comparing-deficit-reduction-plans.html?hp#panel/11th-hour-deal

Meanwhile, Rome, errrrr “middle-class America” is being eviscerated, but at least the Treasury will be able to service the interest on the debt, the military industrial complex can remain ensconced, professional football will be played, and the proverbial can is kicked down the road.

Classic, “buy the rumor, sell the news” cycle. Time to sell the news by CLOSING the LONG S&P futures from 1275 before the close.

Good (aggressive) guys 5 – Market 0!

E-Mini S&P 500 ESU11 (Sep ’11) 1,284.25 -4.25 1,306.00 1,309.75 1,270.25
             

Advertisements
Posted in: Closed trades, S&Ps