There is a Senate election in Massachusetts which many traders are focused on. The reason is that traders think that a Republican win will help to block health care and financial reform/taxes. I expect any reaction from a win or loss to be an overreaction, and would be looking to sell any good news that comes from the Republican getting elected.
The anticipation of the favored Republican getting elected seems to be driving this early morning buying. Buy the rumor, sell the news could be in play. Also, IBM reports earnings this afternoon, and BAC, WFC, and MS report tomorrow morning.
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3 comments:
I am a regular reader and would like to get in touch with you by email....
my email address is amayor@shsdc.org..
would appr it
Jan 26th..... be prepared
still staying short?
I was tempted to sell my edz today.
Just lost 5% of gains. oh well
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