Well tomorrow America votes on their new leader for the next four yearS. Personally I dont care who wins as politics in this nation is all about the people who have the money and the lobbyists and not for the regular guy. The feed the little guy crap only when it is election time because the truth is the little guy is the one who vote the politicians in.
Wall street is already factoring an Obama victory and even CNBC which is by far for the Republicans are talking tonight about who Obama will pick as his Secretary of State and Treasury. No matter what, the stock market will have a rough time in the coming years and it is not contributed to whichever party will win tomorrow but contributed to a system of capitalism which is broken because of the abuses from thieves and selfish men.
The market looks higher here! How far it will go is the real question. I think 9800-10300 should be the top on this swing before we head lower. I just can't see how the market will fight the head winds of the recession which might be deep and long.
S&P 1023 and then 1050 are spots I am looking for to begin some shorts positions, which I think might happen this week. If we do get a rally wednesday or thursday it is a good chance we fade it hard so be careful if you are long.
I hope I am wrong and we blast to 13000 on the DOW and we can sucker in some more bulls but I dont see it happening as the fact is still that the market is so overvalued that there is no shot we wont see lower prices.
I will be back on Wednesday as I dont think we will have much action tomorrow.
MARKETJEDI
Monday, November 3, 2008
Monday
Don't expect much to happen today with the election tomorrow. I will update if I do see anything
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