Yesterday was the end of the latest Bear Market rally
As I look at the Futures markets this morning I see a lot of Indexes down. Yesterday the market closed up but not at the high for the day. So today we are to have a pullback. I hope you read my post yesterday and took advantage of the conditions to buy Index Shorts on the ETF exchange like DXD, which shorts the Dow and SDS, which shorts the S&P500. If you did you will make some money the next few days.
There are only 2 business days before the election and Republicans are trying to scare everyone, even at this late hour, about voting for Barack Obama. One on CNBC this morning, former Republican Gov. Sununu of New Hampshire and advisor to Bush 1, said he believe that "Obama wants to nail Wall St. to the wall when he gets elected". I'm sorry Governor, it was Wall St. that nailed itself to the wall, even providing the nails in the form of a rescue/bailout package the Bush Administration asked for. So Mr. Sununu, go cry in your own soup, as you won't get any sympathy here. None of you are concerned about other individuals except those who have had the good life on the backs of the Middle Class and the poor. Shame on you!
UPDATE: Well I loved bein wrong today with my prediction, as the market did pull out another gain. We are close to the top of the recent initial drop around 9350 on the Dow. We closed at 9,325. So I can't really tell you what tomorrow will bring but I can tell you that it is possible that the wealthy Hedge Fund leaders and the Investment Bank community may be trying to drive the price up just before the election and if Obama wins, then make it dive and scare the hell out of everyone. I heard as much not phrased that way but John Sununu this morning was scaring everyone that a vote for Obama meant a bad thing for the markets. In fact on Floor commentator said that it would be disastrous for the Stock market if Barack wins. Same old fear tactics but I will take my chances on the American people rather than Wall Street on this. It was Wall Street's excess that caused this dilemma we all are facing and they just hate giving up power to WeThePeople!
There are only 2 business days before the election and Republicans are trying to scare everyone, even at this late hour, about voting for Barack Obama. One on CNBC this morning, former Republican Gov. Sununu of New Hampshire and advisor to Bush 1, said he believe that "Obama wants to nail Wall St. to the wall when he gets elected". I'm sorry Governor, it was Wall St. that nailed itself to the wall, even providing the nails in the form of a rescue/bailout package the Bush Administration asked for. So Mr. Sununu, go cry in your own soup, as you won't get any sympathy here. None of you are concerned about other individuals except those who have had the good life on the backs of the Middle Class and the poor. Shame on you!
UPDATE: Well I loved bein wrong today with my prediction, as the market did pull out another gain. We are close to the top of the recent initial drop around 9350 on the Dow. We closed at 9,325. So I can't really tell you what tomorrow will bring but I can tell you that it is possible that the wealthy Hedge Fund leaders and the Investment Bank community may be trying to drive the price up just before the election and if Obama wins, then make it dive and scare the hell out of everyone. I heard as much not phrased that way but John Sununu this morning was scaring everyone that a vote for Obama meant a bad thing for the markets. In fact on Floor commentator said that it would be disastrous for the Stock market if Barack wins. Same old fear tactics but I will take my chances on the American people rather than Wall Street on this. It was Wall Street's excess that caused this dilemma we all are facing and they just hate giving up power to WeThePeople!
Labels: Barack Obama, Bush, Bush 1, CNBC, Dow, DXD, Gov. Sununu of New Hampshire, Indexes, Middle Class, SDS, SP500, Wall Street
posted by Charles Amico at 4:24 AM
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