U.S. Stock Futures Pointing To A Strong Selloff At The Open

Stock Futures Pointing To A Strong Selloff At The Open This Morning

Stock futures are down triple digits this morning portending a strong selloff at the open as nervousness grows over the budget impasse in Washington. Italy’s fragile coalition government is also teetering. How much of a selloff we get, how prolonged, etc. is anyone’s guess. I may take some profit this morning. Even if I sell here and “lose” 3% or so, that is hardly a dent in the 47.35% gains ytd. I also have some dry powder and may also buy and sell. If you have cash on the “sidelines” and have been waiting to get in, today would be a good day to start. My strategy would not be to buy all in today. Leverage in on the buys instead, since no one knows how deep and prolonged the selloff will be. V/R, RCP

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