| To: Fiscally Conservative who wrote (42960) | 1/1/2013 9:42:35 PM | | From: GROUND ZERO™ | | | | I'm ready, and I'm also fed up with all the FC drama... ovomit had 4 years to come up with a budget, so now that piece of shit scurries around trying to get everyone all worked up because of his irresponsibility and neglect... throw the bum out and get rid of all those clowns in Washington now... how they continue to get re-elected is beyond all comprehension and common sense...
GZ |
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| To: Vendit™ who wrote (42980) | 1/1/2013 9:57:41 PM | | From: Mr. Aloha | | | | The European markets aren't open yet. That DAX quote is from Dec. 28.
If this Fiscal Cliff bill passes the House, the DAX will open much higher IMO.
Judging from some of the posts on this board, it seems there are a lot of people short the market trying to justify why it should go down.
If this bill passes, there could be a huge short-covering rally on a "buy the news" reaction after the recent selloff on the rumor and worries about falling off the fiscal cliff.
AAPL in particular got huge selling in recent weeks as people locked in a lower capital gains rate. Many of those people will be buying back in the new year, which should give the Nasdaq strong support. |
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| To: Qualified Opinion who wrote (42985) | 1/1/2013 10:13:12 PM | | From: Mr. Aloha | | | | After congress voted to raise the debt ceiling on August 2, 2012, the credit rating agencies downgraded U.S. debt for the first time ever, yet the market continued to rally strongly for another month+.
I'd agree that debt downgrades will be negative for the economy, but that shouldn't be a reason to stay short in the face of a relief rally if the fiscal cliff vote passes. IMO, the time to short will be after the resulting rally, which could last quite a while. |
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| To: Qualified Opinion who wrote (42989) | 1/1/2013 11:10:32 PM | | From: Wayners | | | | They kicked the can. Should result in a debt downgrade.
By a vote of 257-167 the House has passed HR 8, the Tax Relief Extension Act, which the Senate passed early Tuesday morning by a vote of 89 to 8. The bill will now be sent to the President for his signature. The so-called "fiscal cliff" agreement had been negotiated Monday between Senate Minority Leader Mitch McConnell (R-KY) and Vice President Joe Biden. The legislation keeps the Bush era tax cuts for individuals making less than $400,000 and couples making less that $450,000. It also makes permanent the fixes for the Alternative Minimum Tax and delays government spending cuts for two months. In the House 85 Republicans and 172 Democrats voted for the bill, while 151 Republicans and 16 Democrats voted against the bill. |
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332.58(1.47%) 9:25PM EST