How Long Can This Go On?
The market continues to struggle as the realization grows that the politicians actually are going to allow us to go over the fiscal cliff. The market is still hoping for some sort of Band-Aid deal but losing faith quickly. The big negative is that we really have no idea how much longer this will drag out and the chances of some sort of "grand bargain" are steadily declining as well.
What is particularly interesting is how poorly the market has anticipated this situation. Market players have been very confident for more than a month that a deal would be made before year's end. The indices have been pricing in and the only real concern is whether we might have a sell-the-news reaction when the deal is done....169 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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