A funny thing happened on the way to the debt talks-the markets didn't go down. Before this week, everyone was a least a little surprised that the markets barely moved during the debt talks and rating services down-grade discussions. I even saw some opinions in the media that our debt rating doesn't matter! ( I guess the journalism and the economics buildings were far apart from each other when this guy received his diploma). Well- someone got the point because it might be a good idea to cause a little drama if people are going to take this seriously. Selling begets selling. We don't buy it. We stick with our plan and play the bounce. We bought a large chunk of XIV (Inverse Volatility ETF). It typically goes up when the market goes up and volatility goes down. We don't buy "The Scare".
In at 15.48
I know its Washington; however, they really can't ALL be naive enough to not raise the debt ceiling. We are betting on it!
Calling this trade: MR. SMITH GOES TO WASHINGTON
(P.S. Let's just hope its not BOZO THE CLOWN)
