Down to the Wire
After a weak open, the market treaded water all day before being greatly disappointed when President Obama had nothing new to offer in his meeting with Congressional leaders. The futures are being slammed after hours as market players are giving up on the idea of any last minute fiscal-cliff deal. We don't have any specific details, but it doesn't sound like there are any new ideas and there is obvious concern for a big, ugly open Monday morning.
What is particularly frustrating about this market is that nothing other than the fiscal cliff matters. Stock picking doesn't matter when all movement is a function of the next headline. We haven't even had the usual end-of-the-year window dressing and manipulation to complain about....117 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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