tsptalk
07-23-2004, 11:53 AM
Here's a scary thought. I have talked in the past about how the market seems to know all things, even before it happens. Like when the market rallies for a year ahead of evidence that the economy is recovery or, the scary part, when the indices were down 10% during the two weeks leading up to 9/11.
I kind of thought the Democratic Convention would put astrain on the market as the thought of Kerry jumping ahead in the polls would make themarket nervous (mainly because of his stance on tax relief, reversing the capital gains breaks etc). But this weakness seems exagerated given that psychology, monetary condition and valuations are in a position to put us in a strong bull market. So, does the market know something we don't? Is the Democratic Convention going to be a targetof some dastardly deed next week?
I hate to think about it, but as I said, the market is the great humbler, and the great predictor. This action is much more negative than it should be in my opinion.
I kind of thought the Democratic Convention would put astrain on the market as the thought of Kerry jumping ahead in the polls would make themarket nervous (mainly because of his stance on tax relief, reversing the capital gains breaks etc). But this weakness seems exagerated given that psychology, monetary condition and valuations are in a position to put us in a strong bull market. So, does the market know something we don't? Is the Democratic Convention going to be a targetof some dastardly deed next week?
I hate to think about it, but as I said, the market is the great humbler, and the great predictor. This action is much more negative than it should be in my opinion.