After this morning's major gap down, the markets have recovered somewhat. Boehner spoke and essentially remains a parrot. All roads lead to a deal at some point – it's just a matter of how much drama between now and then, and WHEN then is. At this point the S&P 500 has rebounded to – you can guess it, just below the early November highs – 1433s. A break back ABOVE that level would obviously be a positive (1435).
We've had the emotional action now, so as people in Manhattan and Stamford leave early for the holidays, it will be interesting to see how things shake out. Especially the last 30 minutes.
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund's holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/index.php/the-fund/holdings