Posted on 11/08/2006 6:03:17 AM PST by Grampa Dave
U.S. stock futures down as Democrats take control
LONDON (MarketWatch) -- U.S. stock market futures fell on Wednesday as Wall Street expressed disappointment that Democrats took control of the House of Representatives for the first time in 12 years, and the possibility that they would control the Senate as well. S&P 500 futures fell 5.10 points at 1,383.90 and Nasdaq 100 futures shed 6.75 points at 1,745.00. Dow industrial futures slumped 25 points to 12,163. On Tuesday, U.S. stocks rose for the second straight day. The Dow industrials rose 51 points, the Nasdaq Composite rose 9.9 points and the S&P 500 rose 3.1 points. See full story.
Markets weren't as bullish on Wednesday. Though markets had largely expected the Democrats to take control of the House, the Democrats weren't widely expected to take over the Senate. The Democrats could take control if they win in Montana and Virginia, two races that still haven't been declared.
"The Democrats are known to be less business friendly than the Republicans and there will be less decision making coming out of the U.S. government for the next two years. It's that simple," said Geoff Langham, head of trading for CMC Markets in London."
Excerpt go to link for full article:
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B6DD76413%2DAF8E%2D4DB5%2DAE19%2D42165DB8760B%7D&siteid=bigcharts&dist=news
(Excerpt) Read more at marketwatch.com ...
We will be out of the market by the end of the day.
Money markets and CDs will be no brainers as we enter the a rerun of the Carter years and first two years of the Clintoons.
Heck, I might even buy a fair chunk of Gold investments to prepare for bigger and worse 9/11's on a regular basis. But hey, GW is being punished now.
That cartoon is as dead-on as dead-on gets.
DO NOT BLAME US....WE VOTED REPUBLICAN.
Don't stray into the 3rd party threads ---we have posters here celebrating the GOP loss.
Not to worry, it'll all be made up in tax increases :^)
Poor timing and leadership on the part of the GOP.
What happened in May was just a preview of what will happen now.
We got out of all of our ETF's and 2/3's of our mutual funds. We will probably keep a couple of mutual funds which did okay during the Clintoons and immediately after 9/11.
Our FIDO money markets are bringing in over 5% now and will go up. We can buy a lot of CDs via FIDO paying good interest with short terms re the time of the CD.
We're headed toward another good buying oppty.
That cartoon describes where we are and where we are heading.
Let them gloat .. because there is no way in hell I will vote for McCain or any 3rd party nut they come up with
The market looks to open down. Some will say it's because of the Democrats taking the house or the uncertainty over the senate. Some will say it's in response to being overbought the last two days. Who cares? It's another cheap chance to take a long position in a rising market.
Listening to paranoia from people who can't read balance sheets never made anyone a dime.
"The liberals and haters thinks this country DESERVES to be punished."
They are going to get their way, and it may be the last way.
We're headed toward another good buying oppty.
Here is the headline we won't see today "DemocRATs Take Control; Retirement Accounts Lose Billions in Value."
The market will be down. The media will NOT attribute it to the leftist win.
Not to mention your TAX CUTS !
Just give amnesty to 20 million illegal aliens and those winds will not shift again in your lifetime, if ever.
America is on a course to become a province of Mexico.
Good for those BUYING, Huck, but not for those trying to LIVE off them.
"Not to worry, it'll all be made up in tax increases :^)"
Some of our younger relatives, who have been doing very well since the tax cuts started listening to Savage and the other Bush haters and sounding like them.
I told one this weekend, if he thought the repubies spent money like drunken sailors, he hadn't seen anything until Pelosi and Reid/Clintoon/ take over.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.