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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 679.68+0.7%Nov 26 4:00 PM EST
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To: HammerHead who wrote (2359)12/20/1998 3:00:00 AM
From: epicure  Read Replies (1) of 99985
 
I am amazed- we have outflows now of 3+ billion in equities, outflows of 7+ billion in money markets and negative outflows in everything else; we have the imminent possibility of terrorist actions in the next month aimed at Americans or American interests (because of our bombing Iraq); Russia goes to heightened alert and churns out the kind of rhetoric I haven't read since the cold war (again because of Iraq); South Korea and North Korea engaged in naval battles; and the kicker is Articles 1 and 3 pass the house and the President is impeached, meanwhile the presumptive speaker of the house resigns (possibly I hear, because of evidence that Larry Flynt got of a 3 way- but this is just a rumor- who knows?); Asia and Russia are still in crisis, along with Brazil- and yet our market seems curiously untroubled. Will it be troubled on Monday? Was the idea of the President's impeachment already factored in? Or was it rather, until this weekend, deemed unlikely? And what about the Senate? Public opinion may now sway the other way- it seems to be hardening against the President now- partly because the pundits SAY it is- and as we all know, the media can manufacture consent better than anyone.

I cannot imagine the market has fully discounted a Gore presidency. Many of Gore's interests (especially his environmental ones) are seen as inimical to some of our large corporations. Clinton as a weak lame duck was fairly harmless, but Gore might actually DO something. That has to scare the pants off big business, and everyone else.
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