The high tick in Dow Jones Dec was 13,326.
We settled at 12,225, on the dead ass low of the day and 100 pts away from that high tick. 100 pts on a one lot is 1K bucks. Not a lot of $ if your name is Boris or your last name rhymes with who-dat… but, most people would be happy with that.
1) move your stops down to guarantee you have nothing worse than a push.
2) take profits on a small portion as a reward for being correct.
Don’t watch TV or turn on the screen until Friday afternoon.
If these guys don’t get a deal on the cliff, its pretty evident they are trying to scope out how to make the other guy look bad as we go off the cliff.
That can’t be bullish for stocks. However, on the off chance they get something settled, then by all means, we’ll probably pop to new highs. I am not arrogant enough to believe that that couldn’t happen. Hence the protective buy stops.
CER