9:00am (EST)
The bears got a solid win on Tuesday as they were able to breech a couple areas of key support that had served as prior resistance. The news from overseas was bullish as Greece got another bailout but it failed to get our lawmakers motivated as there has been more talking the talk instead of walking the walk.
Senate Majority Leader, Harry Reid, said yesterday that he was a little disappointed in the way the zombies are dragging their feet and that there has been “little” progress made since the November 16 meeting between them and the Chief Zombie. Small business leaders are expected to meet at the White House today but Mr. Reid stated there needs to be more serious talk and less “happy talk”.
Of course, being a Democrat, he took his shot at the Republicans by saying he is extremely hopeful a deal would get done and that he did not believe the “Republicans are going to allow us” to go over the (Fiscal) Cliff”. Game on.
The market tanked on cue as the selling pressure picked up steam once his comments were broadcasted by the talking heads. (Read More…)
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