{"id":13552,"date":"2011-07-28T23:47:32","date_gmt":"2011-07-29T03:47:32","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=13552"},"modified":"2011-07-28T23:47:32","modified_gmt":"2011-07-29T03:47:32","slug":"no-vote-more-uncertainty","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/no-vote-more-uncertainty","title":{"rendered":"No Vote, more uncertainty"},"content":{"rendered":"<p>Word just broke that there will be no vote on Speaker Boehner&#8217;s bill tonight.  This will breed more uncertainty to the markets.  This is not HardBall or Nightline so I will skip to our thoughts as a trader firstly.<\/p>\n<p>I will watch Asia to see how their markets react.  So far they are down almost 1 percent as I write.  Our levels for SPY are 129.60 and then 128 and 130.70.  The pattern of the market has been as we get closer to the August 2 deadline and uncertainty about raising the debt ceiling remains the market finds lower ground.  Stocks across the board are being punished.  <\/p>\n<p>With this breaking news announcement we would expect the market pattern of lower levels to continue.  As always we will confirm this pattern with our price action.  We are not just going to go in tomorrow, hit the bids in SPY and all things market stocks and hope for the best (though in this environment that just might work).  We will watch the premarket action and watch the way the market trends and follow that trend until our next important technical levels.<\/p>\n<p>Tomorrow should be another market day.  You might trade market indexes, market stocks, or the weakest\/strongest stocks in the direction of the market.  If we start to trend, spread yourself out into more stocks, and then narrow your focus to the ones that are working.  Keep searching for that next trading opportunity.<\/p>\n<p>I am disappointed as a trader with the lack of leadership from Wall Street and corporate America.  It is time for you to go down to DC and explain what will happen if we do not raise the debt ceiling.  Some 100 members of the new Tea Party do not seem to think facts and economic fundamentals are relevant.  As Sen. Daniel Patrick Moynihan said, &#8220;You are entitled to your own opinion but not your own facts.&#8221;  The market is going to collapse if the debt ceiling is not raised.  Interest rates will spike.  Our bond rating will be downgraded.  Our standing in the world will be diminished.  <\/p>\n<p>Before law school I worked in politics for a few years.  If you are a member of a party during a closed door caucus you have a right to be heard.  Argue as long and hard as you think necessary supporting your position.  Swear, cuss, throw things for all anyone cares.  But then when the Speaker of the House of Representatives, a veteran lawmaker, and your leader asks you to stand with him- you stand with him.  If you cannot then you should have never stepped into that caucus, ran as a Republican, got swore in as a Republican, and swore to your oath of office.  <\/p>\n<p>Politics is the art of compromise.  The Tea Party\/Republicans has won.  The Democrats have conceded on taxes, cutting Medicare and Social Security, and the amount of cuts to the government.  Time to take your victory lap before you send our markets artificially lower and our economy into disrepair.  Please end this uncertainty.<\/p>\n<p><a href=\"http:\/\/twitter.com\/smbcapital\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Word just broke that there will be no vote on Speaker Boehner&#8217;s bill tonight. This will breed more uncertainty to the markets. This is not HardBall or Nightline so I will skip to our thoughts as a trader firstly. I will watch Asia to see how their markets react. So far they are down almost 1 percent as I write. &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/no-vote-more-uncertainty\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1379],"class_list":["post-13552","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-n","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>No Vote, more uncertainty | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/no-vote-more-uncertainty\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No Vote, more uncertainty | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Word just broke that there will be no vote on Speaker Boehner&#8217;s bill tonight. This will breed more uncertainty to the markets. This is not HardBall or Nightline so I will skip to our thoughts as a trader firstly. I will watch Asia to see how their markets react. So far they are down almost 1 percent as I write. ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/no-vote-more-uncertainty\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-07-29T03:47:32+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" 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