Will The D.C. Standoff Derail Bulls?
Chris Ciovacco | Sep 24, 2013 07:39AM ET
Never A Dull Moment
You can say a lot of things about working in the money management business, but you cannot include the words dull or boring in your commentary. The markets finally got past the overly anticipated September Fed meeting, which allowed the political posturing in Washington to move to the forefront. From the Reuters :
Apple Inc sold 9 million new iPhones in an opening weekend for the product that included China for the first time and almost doubled sales from the last iPhone launch, and the company issued a more optimistic financial forecast.
The volatility of the last three sessions thus far can be classified as volatility to ignore. The situation in Washington will remain on our radar. If it derails the bulls, it will show up in the market’s pricing mechanism. It is difficult to look at the charts presented here and conclude the markets are pricing in gloom and doom.
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