Many investors were selling into the monster stock rally Wednesday on the notion that the "fiscal cliff" deal hastily hatched New Year's Day did not solve any long-term issues and set the country on the path of several more brinkmanship moments in Congress.
"I'm going to sell this rally with two hands, two feet and all 10 toes," said Lawrence McDonald, a trader and political risk consultant, in a tweet to his followers Tuesday night after the successful House vote.
Several Wall Street policy analysts, economists and advisors sent notes to clients warning them about the coming battles in Washington on the debt ceiling, spending cuts and tax reform. Topics that this deal did not address, but which are likely to be market volatility-inducing events, they said.
(More from CNBC: Despite "Cliff" Deal, "Nothing's Really Been Fixed")
Strategists sent these warnings despite a 2 percent-plus jump in the S&P 500 to start 2013. Take into account its 1.7 percent gain on Monday in anticipation of a deal, and this will be the best two-day rise for the US benchmark since December 2011.
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