Senate lawmakers are facing a line in the sand after the House passed a temporary funding bill.
The House passed a short-term spending bill this evening but the democrats claim to have enough votes to block it and shut down the government. Do they force a shutdown or cross the line and vote with the republicans? The senate vote will probably not occur until Friday after all the arguments are presented both for and against. Tonight the senate leaders are claiming they have enough votes to block it and 4 republicans are going to vote against it. It would take 13 democrats to switch sides and vote for passage to avoid a government shutdown.
The market declined today on worries a shutdown will occur. In reality, any market dip caused by a shutdown would be a buying opportunity. However, with both sides as polarized as they are today, we could be looking at a multi day event before they hammer out a compromise.
I continue to recommend no new positions until we see how this plays out. We should not risk new money in front of a potentially negative event.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays