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Strategies & Market Trends : LastShadow's Position Trading
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To: LastShadow who wrote (507)9/21/1998 6:41:00 PM
From: AlienTech  Read Replies (1) of 43080
 
What do you make of Clinton? I was waiting for the big red button to go off, but I only saw a lil putter.

CLINTON TAPES: If the Clinton embroglio had a stock price, we would probably be listing it as Unchanged right now. The grand jury testimony tapes have now been broadcast, and the net result is very little new information was revealed. While political junkies may lap up the increased information about the Starr prosecutors and the President's character, there is little in the tapes that makes resignation or impeachment any more or less certain than it was before. If anything, the broadcast did not live up to the incredible billing given to it all weekend. To avoid getting trapped in a perjury admission in the Paula Jones deposition, the President repeatedly stuck to his definition that sexual relations did not include passive reception of oral sex. But we knew that already. The President very carefully crafts answers that frequently evade the point of the question, but we've all seen that side of him before. The net result is that there is nothing in this tape that will clearly affect the markets. There isn't anything that helps either, but the possibility of the President being impeached is already built into the market. People who feel he will be gone soon may see the broadcast as confirmation of his impending doom. But people sticking up for the President will have enough sympathy for his attempted grace under pressure to see the tapes as actually helping his cause. In fact, at this point, resignation or impeachment would probably have a positive effect on the markets as the uncertainty of all this would finally be removed. But we don't see resolution anytime soon. We certainly don't see President Clinton as being forced to resign because of anything in this tape. In fact, both sides may start claiming victory, which will only drag things on further.
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