Well, I don’t know about you but I’m quite pleased with the outcome of the elections. First, Harry Reid held on to his seat. It’s not that I particularly like him, but think of the possible alternative the “2nd amendment remedies” Sharron Angle.
Second is that Democrats lost with much smaller margins than the polls showed. The Rasmussen polls consistently had Dem Senate candidates in Pennsylvania and Illinois behind by 5-6% margin but they lost by a razor thin margin. This makes me question whether Rasmussen polls are biased against Democrats. In other words, I didn’t really see a tsunami. I saw a lot of independent voters expressing their displeasure by smallest of margins and knowing their fickle nature I don’t see why they wouldn’t change their mind and vote the other way 2 years from now.
My predictions about the elections and the markets that I made on July 19th were quite right.
The market rallied about 10% since then.
Now, show us how it’s done, guys!