Learn the trade here. Make it on tradeMONSTER

Options Trading News

January 16, 2013  Wed 8:13 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
We've forgotten how powerful it is to have markets fight back from bad openings like we had yesterday morning. When we were in sea-of-red mode, you could see that the market could go down for the count, given that the insane prattle out of Washington is so toxic as to make you feel like an idiot for buying anything.

I find it so disabling. In the old days, the Republican Party was the party of fiscal conservation, but it spent just like Democrats under George W. Bush.

The GOP was always the party that business could count on. But by simply pushing the notion that the debt ceiling is something that isn't routine--as opposed to offering a real plan that can win over Democrats who know we overspend as a nation--the Republicans can't even work with business.

So it was reasonable to think that this market couldn't come back from that ridiculously harmful rhetoric that President Obama gave us yesterday, even as it is true that a shutdown of the government by Republicans making a stand over a refusal to pay our nation's bills is not what the Constitution intended.

How much better would it be for the Republicans if they just immediately agreed to a debt-ceiling deal and at the exact same time showed where $2 trillion could and must be cut? They would be heroes.

Nevertheless, the market shook off the negativity. I think that's because people want in, not out, and they are afraid of missing the action.

Very bullish for the longer term.
Share this article with your friends


Related Stories

SPX

Cramer: Answering all the critics

October 24, 2014

Wednesday's session was infuriating. The moment this market went down big, it was a terrific opportunity to buy. But so many people offered excuses not to.

SPX

Futures pause after sharp rebound

October 24, 2014

U.S. equity futures are pointing to a lower open this morning after stocks rallied sharply yesterday, recovering losses from the previous session.

SPX

Earnings, housing data top docket

October 24, 2014

The earnings parade will continue to dominate the agenda today. New home sales at 10 a.m. ET are the only economic data scheduled for release.

SPX

Strong earnings push futures higher

October 23, 2014

Caterpillar is up more than 4 percent after blowing out estimates. General Motors, 3M, Southwest Airlines, Comcast, and Eli Lilly are higher as well.

SPX

Jobless claims, earnings top docket

October 23, 2014

Jobless claims will be reported at 8:30 a.m. ET. The pre-market earnings lineup includes General Motors, 3M, Eli Lilly, Union Pacific, Celgene, Comcast, American Airlines, and Under Armour.

Premium Services

Free Webinars

Make Money in a Volatile Market

Education & Strategy

Vexed by the VIX

Many people probably don't know that the calculation changed for the CBOE Volatility Index this week, but it's worth discussing...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER