Friday, July 29, 2011

Trading the Great Unknown!

Holding the $QQQ position over the weekend. The market soared after the initial swoon down, and I was tempted to book the gains and call it a day. But I am going to remain with the shares over the weekend.

Watching CNBC today and the debt ceiling talk is reaching a fever pitch. Is this the end of Batman? Er, the US economy?

I don't think so. Not yet. I think it is likely that a deal is reached soon. I recall many Friday afternoons where folks didn't want to be long over the weekend, only to see some sort of news come out that sends the futures ramping come Sunday.

I don't know if this is one of those times, but I'm positioned for it.

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