How many people didn't buy Micron (MU) because of repeal and replace? How many people thought better of taking down some Action Alerts PLUS charity portfolio holding Western Digital (WDC) , which shares its flash business with Micron -- almost as hot as DRAMs -- because of Obamacare?
How many people are frozen on the sidelines because the GOP decided to take up something that was so difficult to begin with and would have imploded anyway, given all of the withdrawals from the big health insurers?
No, it's not a waste of time to talk about repeal and replace. But the same people who have insisted that every point gain -- or, now, loss -- from this market can be tied to Trump have been boxed in and are no longer even listening to what individual companies are saying.
I have always found that to be a huge opportunity cost mistake. The moment you decide to wait for a specific event out of Washington to occur is the moment that it is too late to move, as Micron showed you last night.
So, sit on the sidelines. Wait for a better opportunity. Or, recognize that there are opportunities every day that aren't tied to Washington and you can't afford to ignore them if you are going to do better than the market, no matter what the gridlock grim reaper tells you.