When the volatile event ends you will have a complete reversal of gains and a drop equal to the rise in a single day. It is magnificent to see and profit from. Single 20% days. Today is not it. Close but not yet.
Wes, this is nowhere near ready to be shorted yet, at least not with the low risk that we like to see. There needs to be some contango built back into the futures curve and some negative roll yield tailwind. Currently there is neither. In fact, with this late day pull back we are back to the point where a short is VERY dangerous for anything but a time frame of a few days.
thing is there are also lots of hedgies and funds who don't want to see their year end go south in just a day or so, so there will be lots of manipulation to keep this stable until next year (which isn't far off). then if the congress-monkies can get their sheet together over the weekend/first part of next week, so much the better. A deal will get done, it's only a question of when.