I am holding my fcx and xlf positions after this morning’s volatility. Since yesterday afternoon stock have sold off on Reid’s comments about the fiscal cliff. Today, stocks rallied off lows after Boehner’s comments. http://dr.marketwatch.com/dr/2012/11/28/boehner-says-optimistic-over-fiscal-cliff-deal/
Understanding this market by listening to the news is fruitless. I have to maintain a completely technical approach and so far, while there is some sort term technical weakness, the bullish parameters on my trades and on the market are holding. While this could change depending on who talks in Washington, I am holding for now.