A Vote of No-Confidence
After some panic Friday afternoon, market players are feeling more optimistic about a fiscal-cliff deal this morning. The problem is that they have done a terrible job of anticipating a deal and even if the Senate can come up with a compromise, the big hurdle will be passing a bill in the House. We probably don't even have a time for a vote today unless something happens in the next hour or so.
I'm trying to focus on stock-picking rather than headlines as there has been pretty good action. My stock of the week, Qihoo 360 (QIHU), which I've mentioned a number of times last week, is up strongly on a report from Wedge Partners that it is close to a deal with Google (GOOG) in China. The stock broke out there the $28 level on strong volume....147 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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