The consensus seems to be that a watered-down version of the $700 billion boondoggle is being drafted and will be sent to the House for a vote on Monday. So much for the will of the public!
The big question, of course, is what will happen to the market? Will it…….
- Plunge at once? (I doubt it……….this is the "good news" people have been waiting for)
- Enter a new bull market? (pfft! ha!)
- Soar, like it did September 18th and 19th, and then resume the fall, this time without the benefit of a huge new government program looming as a great new hope? (this is what I'm thinking will happen)
Many has tsk-tsk'd me for getting into my index puts too early. They may be right. But I've still got ample cash to increase my position at better prices, and I will view any surge as yet another shorting opportunity.
There are few things one may count on in life, but on this one point I can assure you: Monday will be interesting.
