futures are UP 65 points as of 11 p,m. EST !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
After thinking it over, I have come to this conclusion, which many of you will probably disagree with: In mid-day Sen. Reid mentioned in a speech that the US debt rating was going to be downgraded if there was no agreement on the debt ceiling. Then later on in the day the House decided they did not have enough votes to put a proposed Bill up. It is my opinion that Fitch did Reid a favor by putting the US debt rating on negative watch, for the sole purpose of putting extreme pressure on the Republicans to agree to a yes vote on Thursday.
It looks like the Markets could get jolted around on Wed.
At the time I wrote this message the Dow was 15.636. So we are down over 800 points. I think next Thurs-Fri if there is no deal, there will be an agreement to extend the talks for 30-60 days.
Yes, shut the Govt down. I am hoping for some real good buying opportunities. If we get a nice drop, step up and buy as this will be a gift.
The Next really important meeting will be directly after the Atlanta-New England game, where they will probably work it out.
Good point, Davis. Whatever happened, insider-trading by congress people is legal. I remember reading Obama did not object to the action that terminated their liability The post was meant to be primarily against congress and not Obama.
Because Obama over-turned the Congressional rule that congress people can be held liable for insider trading, it could be likely that some of them will load up on a 'put' index and try to shut the govt down even if it is only for a day or two.
KI: Despite what you may or will hear, the great majority of people who are on social security are in fairly good shape and do not live check to check. Some people who are on SS disability if their claim is real,could feel some pain. That is a fact, not an opinion.
BTW: Agency cut its quarterly divy to 80 cents from 105. I have not owned it in a long time, but I do own from time to time AGNCP the pfrd that yields about 8 % at par.
The only thing I see is hat one of their competitors was eliminated and Baird put out a buy on the stock.
KI: So if the Govt is shut down you cant go to a national park or museum, some checks will be delayed, most Federal workers get a paid vacation--its no big deal. It is hard to understand the 'panic' that could take place in the Markets, because to me it would be a very good buying opportunity. So I thank the R's in advance and let Ted Cruz do his thing.
I am hoping the R's bring down the Markets over the next 2 weeks regarding the budget deficit and debt ceiling talks, The irrational tea party argument is, Obama will be the cause of any shutdown,etc. I hope they shut the government down for a week or two!!! There is no way the US will default on its debt. Any nice Market drop will be a big gift.
Buy trading shares on 9/30 near the close. RAS is presenting on 10/1 at 10:00 EST at JMP conference.