Happy I got out yesterday. I basically did my scenario analysis and came to the conclusion that all scenarios are bad for stocks, and there is no way the market is panicked enough to have already discounted it.
Just did a refresh perusal of "Margin of Safety" and reminded myself that sometimes the best investment decision is to do nothing and stand on the sidelines with your cash in your pockets (and enjoy the ride if you own Swiss francs)
Something will get passed. As dumb as DC is to dangle the economy over a fire, the little sense they have will pull it back before it gets burned. I'm getting long
I lowered my equity exposure today by about 15-20 percent, starting with my financials. I should have done it yesterday, but oh well. At least I got rid of my Apple call options 2 days ago before it dropped $10 per share today.
There is always tomorrow, Friday, or Monday to get long if it looks like the right thing to do.
Edited 1 time(s). Last edit at Wednesday, July 27, 2011 at 04:09PM by krazykanuck.