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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (77132)	8/1/2011 3:45:51 AM
From: 2MAR$	Read Replies (1) \| Respond to of 219932

Debt Ceiling ? What debt Ceiling ...its been raised 70 times altready (lol) No question they were going to get some deal done and the market ramping off the 200ma test friday am was telling the same tale as the resistance in the PM's , they weren't going to risk a default or credit downgrade . Not to mention risk the wrath of the voters or downgrade if they blew it ... Was seeing that top resistance pretty clear in Au on two attempts bumping against $41 last week ...so took the AGQ short at two pivots that seemed all to clear at $224 then up at $230 which saw a 20pt pullback the next day...but trading in the PM's was great for this time frame long too...but the first pullback on the AGQ at $224 earlier was showing they were lightening up on the safe haven trade even earlier last week . Message 27528570 PM's aren't suffering too big a hit tonight but will pullback more if downgrade is averted & all goes as planned & they get the thing signed .The Pubs got their spending cuts & no tax hikes on the rich, while QE3 still lives in leaving all the subsidies in place... but still the job creation issue vs the cutbacks remains . But the rub is many corps earnings have been helped by the cost cutting & the tax savings...and the Fed gets $2tril+ to play with. Armeggedon averted , relief rally hats on.! This will sure save for the time being alot of stocks that were clinging on the verge of long term critical support, like the automakers & electronic retailers which have really taken down . All last week was making a list for short term trades for the relief rally & the rest of earnings season . They'll be throwing money back in the already shoo~in winners like IBM & GOOG AAPL and other select winners tomorrow while shorts will be forced to cover many positions ...and when the market gets taken down to support always making a "good bounce candidate" list . ( and reshort later list too!) ;o)