A very, very nice performance by the bulls today. Kudos and hat tips everywhere. It looks to me and others that it was a relief of sorts as we may not know the result in the morning, but we will indeed have a result. The market despises uncertainty and now that vail will be lifted in the coming hours.
I traded some SMN fairly successfully which I am thankful for, considering that’s a bearish trade on a bullish tape. Personality deficiency #354, relentlessly fighting tape. Note to self, trade what you see. Next time. I rented a quarter position in FXP and SMN, and these two will obviously be held longer term. I haven’t done that in a while but on SMN I see clearly where my risk is, and although FXP broke a bit today I am giving it some rope.
Tomorrow is the big day and I’m wondering if we get a very big sell the news reaction. My eighth grade daughter got the results from their mock election today. K through eighth grade McCain won by one vote and in six through eighth grade McCain won in a landslide. I might add it is a very diverse community. Just a feeling, but Obama might be having a Dewey moment in the morning. Congrats to both though on a well and hard fought race. Now I have to take my little voter for contact lense solution. Be back later. Go vote—for whoever-just do it.