This is an historic day, the first day that the Congress got a restraining order since Keynes took over 70 years ago. Prior to Bozo the Clown, economists testifying before Congress unflichingly reminded them that they had the public responsibility to balance the budget. The debt limit increase will be bought only with some deep cuts in the 2012 spending attached. Republicans will have to concede to not cutting taxes or raising them.
The U.S. has less than 2 years to get it's fiscal act together, otherwise they will join the list of second-rate powers that torpedoed their national capital on the way to mediocrity. Within 2 years the rating agencies will cut U.S. debt to AA.
I wet my whistle with 1% SDS at 21.63 and waited for the bounce that took us into the close. I also bought 2% SOPIX short NDX mutual fund. I count wave iv of c complete and wave 5 in progress, on it's way to DJI 12,240-12,250 tomorrow morning.
The precious metals spiked on the S&P negative watch news, but gave up the gains only to recover in the afternoon. I have my toes wet with .5% ZSL and 1% DZZ. I've posted the silver 90-minute M/A several times recently so I won't post it again. When that M/A falls I'll add to the positions.
The dollar ran up to it's 90-minute M/A, which I consider key. An hourly or 90-minute close .55% above this M/A gets me long.