Hank, with all due respect, I don't think the market gives a hoot anymore about the hearings and the outcome; it's pretty much irrelevant, plain and simple. Haven't you noticed that almost no one in the market has been talking about this since a week or so after the November elections? Well, no one, that is, until the last couple days when a few SI posters have started to fret about it- but only a little. I could be all wet on this, but I think the market thinks it unlikely that Clinton will be removed (although possibly impeached), and even if he is, Prez Gore will be fine for the time being. The damage to the country has already been done and factored in vis-a-vis diminution of credibility etc.
In brief, it's no longer a serious issue in the market, IMO, although it might whack of a few percentage points due to nervous nellies. Keep your eye on the important issues like lower profit warnings, Japan, Brazil, Borris' "colds", oil, Saddam, interest rates domestic and global, etc.- those are the issues that move the market now, not impeachment hi-jinks.
Anaxagoras |
