If we knew the answer to that we'd all be rich lol. But who knows we may not even drop. Then again, I don't doubt that there will be some kind of article out to spread fear and trigger a sell off... All IMO
The "Drop" for the Bill potentially passing the Senate Finance Committee has already occurred. We already know the Bill is DOA, and really there is no reason for another drop without any bad news.
Examine the Garrett/Hensarling committee vote for the PATH Act. After markup on July 23, 2013, the PATH Act received a majority of the roll-call vote of the committee on July 24, 2013 and was reported to the House leadership on the same day. It then did not go any further.
Similar to the present time of Johnson-Crapo, there was media coverage against the bill for some time.
Not similar was that the PATH Act was a partisan bill with no Democratic Representatives in support and there was considerable Democratic opposition. Liberal Democrats on the Senate Banking committee, in the main, have not been vocal in direct opposition to the Johnson-Crapo discussion draft.
PATH Act Committee Markup Date: July 23, 2013 Committee Vote Date: July 24, 2013
Committee Vote Result: 30-27 to pass.
Market Prices July 19, 2013 - 1.41 July 22, 2013 - 1.61 July 23, 2013 - 1.54 - Markup July 24, 2013 - 1.50 - Roll Call Vote July 25, 2013 - 1.53 July 26, 2103 - 1.58 July 29, 2103 - 1.54
Market Reaction to committee vote on July 24, 2014: Price declined $.04 from previous close of on July 23, 2013.
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