Both the Dow and S&P closed at 5 year highs today. Last time the market was this high was December 2007. The S&P is about 80 points from it's pre-crash peak.

Two questions:

-Long or short on the US equity markets and why either way?
-What will the S&P be on March 1, 2013? It closed at 1480 today.

Sequester cuts, debt ceiling, affect of both on retail sales, consumer confidence. Deal or no deal on these issues. On March 1 the US Treasury will be unable to pay all of its bills. What happens then? What do the rating agencies do?

I have followed the issue very carefully since before the November 2012 elections. I am short on the US equity markets. I think that at some point just before March 1 or shortly afterwards, the S&P will be down 25%-30% from today's value.

What say you?