Today’s E-Mini tout is cognizant of the old adage, ‘buy the rumor, sell the news’. Expect the market to move sharply higher on headlines of an accord on Capitol Hill, but don’t get swept up in the enthusiasm, because it could be short-lived. Mentioned in the tout is a Hidden Pivot target where you can get short if the buying gets giddy. _______ UPDATE (11:12 a.m. EDT): The rumor evidently has grown too tiresome to spark any buying, but I still expect a knee-jerk rally when the actual sausage-of-a-compromise is announced. We’ll want to get short on the inevitable flurry of quote-unquote excitement, but be warned that it could be fleeting.
