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Great American Group, Inc. Message Board

  • who_gnu_1235 who_gnu_1235 Oct 15, 2013 6:46 AM Flag

    Debt Crisis

    Holding off on purchases until this is resolved - hopefully this week. For some protection I bought out of money SPY Oct 19th puts. I believe the uncertainty of House vote is not being discounted properly, especially given the way they were ignored by the President. This post is not intended to take sides. But I believe default would be catastrophic and its probability is not being discounted by the markets.

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    • You're probably right. However, if they do not resolve anything, not even an extension, every last member of Congress will be impeached or not re-elected. I seriously cannot believe how stupid this entire thing is or how long it's gone. It is simply mind boggling.

      Whatever happens, happens. I am confident that something will be agreed upon at the last minute and they will be ok for another few months...until it's time to go through it again. People are getting real tired of the games.

      Regardless of the situation, I am buying stuff that is being given away. I'm using my PDEX money to buy lots of stuff, spreading it around in multiple sectors, to stuff hitting lows that really shouldn't be. Sold a couple things too - had another round trip on NL yesterday, now waiting to buy below $11 again.

 
GAMR
7.70+0.30(+4.05%)Jul 28 3:59 PMEDT

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