We are about halfway through the day and the market sure does not seem to care about any sequestration spending cuts. I am using this strength to unload some long positions and start building up a beefier short hedge against what is now a predominately long portfolio. I am inclined to expect a failure to reach new index high in the S&P 500. More volatile choppy action to come is my best guess.
Still much uncertainty out there. The weekend will likely bring out nervousness as our fearless leaders go at each other on the talk shows.
Check back this weekend for a complete review.