Markets won't like phony last minute half baked deal
and that's what they are going to get. Some phony stop-gap bill that does nothing to stop runaway federal deficit spending, does nothing to reduce out of control defense spending and does nothing to reduce 17 trillion deficit. Thinking uvxy could hit $30 plus come Friday, since its to late now to do anything constructive regarding the "fiscal cliff" and the only thing left is "game time" with numbers and playing with taxes. Congress is now in meltdown mode and markets will follow with melt down.
We close today $25 plus and open $27 tomorrow. Its obvious to all that congress has no intention to prevent us going over the fiscal cliff. And come next week uvxy could be staring at $50 a share and climbing.