Sounds good enough to me. Still rather tentative, but pretty good nonetheless. I’m expecting volatility to peak and market falls to come (after all, the GOP has recast their party as “crazy nutter gunners” on the notion that insanity and success are correlated with Wimp-in-Chief Obama in the WH. So, expect a fight over this and politics-driven markets in the future.
Ultimately, if he sticks to his guns and sticks it to the Reps, I think Obama could be coming out stronger. Then again, I’d have thought he knew this after the healthcare debacle.
Wait for some falls, or just keep being short, but expect some pretty wild short term rallies if things are looking up. (Remember this thursday when central banks shored up dollar liquidity in Europe.) Either go in forcefully and early, hoping to ride the trailing traders, or increase your stops if you’re short. Then go short again after 2-3 days; no news are bad news in this market with the trend out clearly in favour of the bears.