Monday Market Meltdown – Again

This is how we began last Monday's post as the House failed to pass a debt deal and the markets begain to panic after having popped 100 points on Friday in anticipation of a revolution.  Those who forget the past yadda, yadda, yadda - I suppose.  

We started last week at 15,100 on the Dow on Monday, fell to 14,700 on Wednesday, rallied back over 15,100 on Thursday and now back to 15,100 at the open this morning (Futures down about 100 points). Isn't this silly?

We're actually hoping oil goes up now, as we cashed in our USO/SCO positions and we'd like to add more back.  Also, like last Thursday – how much more fun is it when we get a nice BS pop to ride back down?  Like any good roller coaster – you have to sit and wait for the car to get to the top of the tracks again before you get that exhilarating "WHEEEEEE!!!" we enjoy so much (and you do not need a degree in rocket science to see that it's a good idea to go LONG at $102.50 until it breaks back under and we can flip back short).