Although stocks finished poorly yesterday, there was still plenty of optimism in the market that the debt ceiling issue would be resolved in time to avoid a default. We are likely to see more dip buying. But trading is likely to be very choppy until we see some progress in Washington. We are in a market where both buyers and sellers are afraid of being caught in a news break. If you have a large long position, you have to think about whether you can weather a potential 5-10% drop should a technical default take place. If you trade, stay very short term, or stay with stocks which have held up well in the past couple of weeks.