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To: the-phoenix who wrote (58479)	11/3/2002 9:24:57 PM
From: nsumir81	Respond to of 209892

What did market do when we had a Rep Senate, House and Administration in the the first half of 2001? Jeffords left the Republicans in late May 2001 but his departure was already foreseen (the market is always forward-looking is it not? and surely if his switch was really that detrimental, the markets should have responded AHEAD in time). Down hard and then up hard for flattish indices..indices aside (misleading), many mo-mo stocks like BRCD BRCM QLGC even CSCO INTC EMC etc were way down in late May 2001 vs their 2001 opening values (despite the indices). An exception was MSFT which was handsomely up and probably aided the indices. Point is, as Tom McManus of Bank of America opined the other day (for reasons of his own), imo it will not make much of a difference who controls Congress.