We hope you all had a good Tuesday. Still no official word from Washington, though we've heard from both parties that a resolution could be finalized by Wednesday. Nothing like waiting until the very last minute, huh? I'm not surprised, and I doubt any of you are either. This was never really about the budget or the debt-ceiling. This was always about both parties trying to cast each other in an ugly light, which meant the process had to be prolonged as much as possible. Sadly, both sides of the aisle succeeded - both parties now look ridiculous. Worse (and as a result of the brinksmanship), the buzz is that credit rating agencies could downgrade the government's debt this evening anyway, even with time left on the clock; looks like even the bond-rating companies think this has gotten out of control, and destructive. You know what though? Given how nothing's actually changed in D.C. even though all eyes are on our elected officials right now, there's not really much market-wise to talk about. Yeah, stocks have ebbed and flowed in the wake of all the political silliness, but the market hasn't actually gone anywhere since the shutdown began. Most investors seem to know things are on hold until further notice, and have adjusted their trading accordingly. Can't say we blame them. In fact, we're not even going to bother dissecting today's action because odds are that the closer we get to the deadline, the less active traders will be. Just bear in mind the market will be feeding off of whatever technical setup has developed in the meantime once things get back to normal. More on that when the time comes. So what are we going to talk about today? Let's go ahead and pull the trigger on one of the potential trades we've talked about recently, and pull the plug on one of our open picks. Out With That, In With This First things first. Remember when we got into Ixia (XXIA) back on October 7th? We were thinking it was going to be flung out of a wedge pattern after finding support at a confluence of key moving averages early in the month. Well, though it hasn't been crushed, it's not really gone anywhere since then, and the lack of movement has allowed Ixia shares to slide back under the very support levels that got us into the trade in the first place. Assuming you got in at the opening price of $15.87 on the 8th, making an exit around the current price of $15.25 is only about a 4% loss... not a big deal for anyone. But, I'd rather get out now - even though the loss is minimal - than be patient and let the break under the key support levels widen the loss. This kind of trading discipline is half the battle in this game. We're going to replace the Ixia with another name we've been kicking around for a while - Commercial Metals Co. (CMC). In retrospect we wish we'd suggested Commercial Metals as an official pick when we first brought it up again back on October 10th, since it's moved higher in the meantime. But, hindsight is 20/20, and there's still plenty of meat left on this bone. As we explained to you then, what we're really expecting here is a long-term breakout of a wedge pattern that's only evident on the weekly chart. That's not to say this is a long-term idea - once the breakout materializes, it may only take a few weeks for the stock to reach its maximum potential. But, it is long-term data ready to put the stock into high gear for the foreseeable future. It may not be pretty, but Commercial Metals is "getting there" on the earnings front. By that, we just mean CMC's loss from 2010 is history. The company swung back to a profit in 2011, and that growth trend has widened profits in the meantime. The pros foresee more of the same in the future, and as it stands right now, CMC shares are trading at a very palatable forward-looking P/E of 15.9. The earnings trend chart from cnbc.com tells the story. Again, now that the ball's rolling I've got a feeling all the long-term value represented here is going to get fully priced into shares in the very near future. I'm hoping the eventual end to the shutdown will give the stock the nudge it needs. Speaking of value, while Commercial Metals Co. may be attractive because it's undervalued, our friends over at the SmallCap Network Elite Opportunity found what I believe is an even more attractive undervalued name. What would you think about a small cap stock that.... Is only trading at 17.1 times its projected twelve-month earnings Grew income by more than 17% last year Is expected to grow the bottom line by 18%, annually, for the next three years Has been profitable for years Does something that businesses can't survive without It's such a rarity to find a stock like that, they're almost unrecognizable (and unbelievable) when you come across them. John Monroe and the SCN EO team dug this gem up though, and it's the real deal. Frankly, I wish I had found their pick fist so I could pass it along to you. I'm not going to poach their idea though. Instead, I'll just refer you to their service to find out what company this is. It's worth the effort. If you're still not sure you want to become a SmallCap Network subscriber but would still like to learn what this undervalued stock is, take the free two-week trial. You get everything regular subscribers get (like picks), even if you don't get it for very long. Here's how to get a free preview. Or, copy and paste the following link in your browser: http://www.smallcapnetwork.com/?vmpd_ckstr[click_track]=SCN+Newsletter&vmpd_ckstr_redirect=/pages/SCNEO/v1/