MIDDAY BOUNCE
OK - confession I bought the SSO a little early but now in the green and even some UYG which is also in the green as I type- these are day trades as swing trading probably not such a great idea from these levels.
Sector strength - airlines banks and semis while shipping steel and utils are the worst.
NYSE- 1375 net losers;
NAZ- 1000 net losers;
NDX- 35 GREEN;
OEX- 40 GREEN;
VIX- red and now under 24;
Up volume rapidly catching the down;
One question for anyone- if the market was +350 yesterday would anyone have said it was the Palin rally?
posted by DAVID at
11:53 AM
3 Comments:
Hi David..to be honest, I'm not sure the market reacts that much to who is in power or who will be in power. Personally, I think if the market thinks we'll get higher taxes from Obama, it probably won't like that. It also might not like high Iraq spending if that's what "the market" thinks will happen with a McCain presidency.
I think these economic and market cycles happen regardless of who is in office.
Personally, I'm more a libertarian..free markets, but also freedom in the social areas (prochoice, let people alone in their personal areas as long as it ain't hurting someone else,etc.)...so I'm a little schizoid when I decide who to vote for...
I think we've hit the point of no-return with big government, however, and I'm not that optimistic about the USA's competitiveness in the world market. I think the "only" real answer is to become more productive and that happens with education...an area we are falling way behind in.
My one cents worth on a hot California Friday!!
Have a great weekend..i appreciate your work even though politically we may not agree..that's what makes a horserace and also makes this country a great place...I've been to many countries and I "am" thankful I live here (so far)...
;)
Very nicely said - thanks
I attended a luncheon yesterday with a most interesting speaker. This guy, Jason Cole, was once chief of staff for a congressman. Since his guy lost his seat Cole has been a lobbyist for UBS. (confession: I "retired" from UBS six years ago) Among the many notes I took, one stood out. When we leave Iraq none of the equipment will be returned to the States. After five years in the desert it is useless. It will be left or, probably, buried in the sand. So, the chairman of the defense committee met with joint chiefs to find out what it would take to get our armed forces up to 2003 level of preparedness. Sitting down? Two to three trillion dollars. There goes my argument that the money no longer spent in Iraq will build us bridges and higher teacher pay. Also makes me want to buy a defense company stock.
Rick
Post a Comment
Subscribe to Post Comments [Atom]
<< Home