Post-DC Game Plan

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It may all end tomorrow Or it could go on forever

In which case I'm doomed 

It could go on forever In which case I'm doomed – Piccadilly Palare – Morrissey

It only occurred to me typing the title of my post that the initials for Debt Ceiling are "D.C." Maybe I'm the last one to realize this, but that strikes me as very funny.

I'm typing this six hours before the e-mini markets even open, so I have no earthly idea how ES, NQ, and EUR are going to react to the sorta-kinda news that the debt ceiling crisis is sorta-kinda pretty much over. But my game plan is pretty much:

(a) expect a hearty "PHEW!!" rally, now that the geniuses in D.C. have solved all our problems;

(b) wait for a stall when it slowly begins to dawn on people not only that the economy still sucks, but that the suckiness will probably not be aided by trillions of dollars of government largesse being eliminated from the system, thanks to the new austerity of our nation;

(c) short the holy living hell out of all the most vulnerable issues, grab the popcorn, and watch the fun

Anyway, that's what I'm thinking. It'll be really interesting, to say the least, to see how the markets – and precious metals – react this evening.

0731-pelosi