I’ve got to make a decision. Futures indexes are all up, Asian markets opened in the positive. Pointing to an all round bull market opening. Nothing new is going to come out of Washington before the bell. They want the cautious optimism to continue until the 11th hour. The futures market seems overly enthusiastic. I”ll check it again in the morning. Selling the shorts depends on two things: will their be a bill that looks like it might get through the House and does the market look to be set for a rally in preparation for a bill to get through.
There are other factors to take into consideration. Even a short term rally, which looks likely given the Asian and futures markets, could substantially eliminate any gains my shorts have experienced. In fact it could shoot them below my original bye-in for a loss. For this reason I have queued my short index position for sale at the open. It looks like the market will open with a rally. I’ll sideline the proceeds to take action after a vote. If their looks like there are the votes for this plan I’ll buy in to a few selects I’ve been watching including getting back into the Brunswick Corp. I did not sell my real estate shorts. May dump those in the AM too.