It looks like the dysfunctional political environment has finally taken its toll on the stock market. This is a significant reversal today.
In addition, expect the hysteria in D.C. to get crazier as the IG report is pushed the stakes between the two parties to a fever pitch.
How this turns out is anyone’s guess. Except I think there is a good chance of a pretty big correction.
May not happen, but unless our elected officials regain some semblance of sanity it does not bode well for the markets.
Things have been working up to this point for some time now. And it looks like a good chance the lid is coming off D.C.
Or perhaps it’s my hysteria:) We will see as by the end of the week it should be pretty clear which way the wind is blowing in D.C.
The people? Who are they! Let’s get bogged down in a heated meeting regarding negotiations on the budget and DACA.
Its all political posturing at the expense of the American people.
And as you can see the markets do not like this one bit.
So, now is not the time to get stubborn until we see how everything levels out. Be sure and have your stops in place and honor them. No speculative trades until you see some semblance of sanity back in D.C. This can and will get very ugly fast.
I will have more on this tomorrow morning.
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