Today is the first day of the rest of the year. It's when traders and institutions start assessing what was hot and what was not and making decisions about how to position themselves into the year, all based on corporate earnings. So the 2010 earning season begins. But WAIT! There is something else in the air! It is an election. An election which could actually change things going forward into 2010. About a week ago I said as much to some people I chat with and was largely dismissed as a person who perhaps puts too much importance on such mundane events, especially where the markets are concerned.
What is interesting is that as I paid less attention, (thinking that,yes, it will make a difference but I cannot hope) the country started to pay more. I decided to give my health a boost and stress out less only to be awakened to a fever pitch when I heard about President Obama's visit the the state.
So then perhaps we should assess the importance of politics on the markets once again, because like it or not, it makes a difference. It makes a difference whether you have a Marxist or a Libertarian running your government and putting their nose in your business. It makes not a small difference, unless you think the difference to be small between prosperity and despair.
I do hope that this nation is finally awakening, because your hoped for vote may really mean nothing soon, if you don't come awake. Watch what happens after this election especially if Scott Brown wins. Watch the Senate, watch the Congress, watch Massachusetts and how well and quickly they enforce this election. Watch them all very carefully, and watch not only for a few days, but for a lifetime because Liberty is not to be watched with closed eyes and a prayer. Liberty always has been and always will be a cause to defend.
I personally think the markets will breath a sigh of relief if Brown wins, but it may be short lived because how the Marxists* in Congress plans to handle the situation could be the " Ace In The Hole".
Happy Trading Living and Voting
*Makes no difference if you call them: Marxists, Liberals, Progressives, Communists, Socialists, Unionists they are all cut from the same cloth; they all want to make their choices mandatory and revoke ours.
The Play List:
$MA Looks like a player again:
MA posted 18:44 ET 01/19/2010