What To Do?
Bill King on last night’s election results, via The Big Picture:
SPZs (S&P futures) are four handles higher in overnight trading. BUT it is too early to determine how Team Obama and Pelosi-Reed will react. If Team Obama and Pelosi-Reid promote more big-government solutions to the economic and employment problems, buh-bye dollar and hello inflationary recession or worse.
If Reaganesque solutions are applied, there will be an excruciating purgative process that will greatly damage stocks but help the dollar and bonds…Don’t bet the ranch just yet on either direction.
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The obligatory pre-Fed bounce. HMOs are on a tear this morning.
Comment by BMB — 11/4/2009 @ 9:33 am
Pre-Fed announcement — with the Dow still up 115, the Russell is back to flat and the Transports are down nearly one percent.
Comment by BMB — 11/4/2009 @ 11:29 am
At least a 12lb Grade A turkey only costs $5!
http://finance.yahoo.com/news/From-Turkeys-to-Televisions-prnews-3228431626.html?x=0&.v=1
Comment by Henry — 11/4/2009 @ 11:33 am