I am firmly convinced that the Politicritters in Washington, D.C. will reach a deal on the Fiscal Cliff negotiations by December 26, 2012.Why?Because a bunch of those rascals have outsize equity portfolios and they know that "a deal" - any deal, not necessarily a "grand bargain" but just any kind of deal - is good for about a 200 point pop on the Dow.The same critters are pretty sure that taxes on capital gains are going to be higher next year. Thus, they all will want to "sell on the news" that a deal has been reached.Politicians will be taking profits hand-over-fist before December 31, and the best way to clench those profits is to reach a deal on a business day when their brokers are working and the markets are open as the Dow surges ahead on the news.That's my thinking anyway.;-)
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra