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Reid's Emergency

2 years have gone by and Congress has done nothing about the impending tax increase, except to create a last minute emergency push with the hopes ( as I see it) of blaming the opposing party if things fail.  This is political gamesmanship at its finest with Reid also pushing a budget that should've have passed in September, as a last minute rush in order to score political points and hide, or at least attempt to hide, wasteful deficit spending in the tune of 1 trillion plus dollars.

Reid and company are playing with America's frail economy, shamelessly shameful.  I'm hoping that the conservatives in Congress hold their ground, but I won't be surprised if the acquiesce on the Budget.  No wonder this Congress as the lowest approval rating on record.

On an equities note, LVS continues to lose ground and with today's heavy volume downside pressure remains in spite of a technical oversold indication.  The same is true for BIDU as it fell to $100 on a downgrade in expectation from company executives.  It seems as if the Call activity for December options were initiated mostly by sellers and not buyers, which turns the sentiment bearish.  Going protective makes sense as a prudent hedge with uncertainty abounding in Europe, China and the US.