Monday, November 06, 2006
Closing Comments
Say what you want about the market, it has legs. Over the last 6 months, whenever the market shows signs of weakening, it roars back with fire underneath its belly. Also, the prospect of private equity assholes buying the stock you may be short is becoming a real problem for the bears.
Now, we have mid-term elections to deal with tomorrow. My sense is the market will trade up, no matter the outcome.
Bottom line: Until we get recession type data, I feel the market will continue its iron-pressing of the bears-- until their faces resemble a homestyle waffle.
NOTE: The only sector that may see a "reduction" in shareholder value, should the Democrats take both house and senate, is the oil sector-- due to a potential windfall tax bill.
Now, we have mid-term elections to deal with tomorrow. My sense is the market will trade up, no matter the outcome.
Bottom line: Until we get recession type data, I feel the market will continue its iron-pressing of the bears-- until their faces resemble a homestyle waffle.
NOTE: The only sector that may see a "reduction" in shareholder value, should the Democrats take both house and senate, is the oil sector-- due to a potential windfall tax bill.
