skycfa

Palantir Wrote:
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> I don't think market is down enough for a buy...


agree. i don't think it's time to sellout of stocks completely, or even mostly, and i disagree that all scenarios are bad for equities b/c scenario 1 is clearly better than 2 and 3, so should there be a deal inked, any deal, there should be a relief rally and stocks should rebound. this is only true though if the debt deal is such that a debt debate is out of mind until 2013. once the debt deal is inked, there are no immediate sovereign issues to worry about and macro headwinds' affect on confidence should diminish substantially.

that said, we have had some bad earnings in the DOWs in the last week offsetting high expectations from early in the earnings season as a result of the great tech numbers all around. i think poor earnings are to blame for most of the losses this week, along with poor housing and durables data. the market still hasn't discounted much of the debt issues so the market should be weak going into the weekend for this reason.

does anybody know how most employment contracts at the govt work? if you are willing and able to work and your contract states that you should be working but your boss tells you to stay at home because he can't pay you, will you get compensated for those missed hours retroactively? if so, this would be a major drain on government service productivity.