Super Committee Drama: Cash and Volatility
Fellow Masters, its very possible Congress won't get their act together in time or that the deal they come up with won't be good enough for the markets. Its why we are thinking cash is the best option. If you have to risk it think about buying into the iPath S&P 500 VIX Short-Term Futures ETN (VXX).
Simply put, if an agreement is not reached by Wednesday (Nov 23rd), $1.2 trillion in cuts automatically kick in. This means the U.S. has an instant $1.2 trillion less in purchasing power. America's debt is over the $15 trillion mark, super.
Mastery is not willing to let it ride on our leaders getting their shit together in time and not have it impact stocks in a negative fashion. Remember what happened last time we had to work out the 'Debt Ceiling'? That was not fun and when the deal wasn't good enough for Wall Street stocks tanked.
Think proactivitly with your portfolio. A little VXX could help your account if the market freaks out and pulls a 2002 Nick Nolte.
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