Tuesday, November 07, 2006

Election Day on the Markets

  • Voting fraud in Philadelphia? In precincts 7, 19, 51 in Philly, PA, the crowds are going wild. Inside several voting locations, individuals have poured white out onto the polling books and the poll workers are allowing voters to go into the polls and vote without first registering. Several individuals are on hand demanding that voters vote straight Democrat.  Well, it's early and starting out ugly.  Bring a camera with you to vote.  You never know what you might catch, record, and sell to a media outlet later.
  • The market starting off strong on voting day.  The DOW has reached new highs already, after 6 straight down days (that ended yesterday).  I'm still net long with lower beta holdings and some cash on the sidelines.  I've been trying to flip positions on the side with some luck, buying breakouts.  You know the drill.  Not holding for too long as I wonder about the increasing possibility of a correction and sideways market. 
  • If you've concentrated your holdings in duct tape related stocks, this bit of news may concern you:  Duct tape no magical cure for warts.  Here come the "sell at market" orders.  Of course, shrewd traders probably already have a buy list of alternative wart treatments.
  • Lost my fantasy football game by 1 point this weekend.  Plaxico Burress didn't play, the bidding window was closed so I couldn't pick up a newWR, and my other WRs were on byes.  OUCH.

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