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Markets are looking unsettled today — more so than yesterday, despite the huge 0.5% rally in the last hour to get into the green.

I’m out of pocket most of the day, but I have left you in good hands.

Be back later . . .


Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

11 Responses to “Look Out Below, Post Debate Version”

  1. PeterR says:

    SPX 1400 is a key level of support here IMO.

    This morning’s pending (apparent) rejection at SPY MA(50), support since July, is ominous. There HAVE been election years which did not turn out so well (2008 comes to mind!).

    Santa Rally TBD?

  2. number2son says:

    Maybe the markets are expressing what many already know – this election season offers one of the poorest choices for President in modern times. But then again, we’ve known that for awhile now. So maybe something else is going on?

    Anyway, it is a reflection of how corrupt our political system has become that it is down to the lesser of these two evils – water carriers for Wall Street and the military industrial complex, varying only in their degree of obsequiousness. But last night it was particularly saddening to watch this purported foreign policy debate where the only thing debatable was whether it was Romney or Obama who prostrated themselves more fully before the Israel lobby.

    I expect voter turnout will be historically low for this awful choice.

    I voted for Jill Stein (

  3. ironman says:

    We’ll have more on this tomorrow (here – we’re still working up the charts to go with the analysis so the link won’t be active until then), but as a preview, there has been a definite shift in investor focus. Where investors had been focused on 2013-Q1, they have now become more nearsighted in looking at 2012-Q4 (that’s not a good thing….)

  4. denim says:

    In as much as it takes more than a single person to govern America, I voted straight ticket, president and congress, based on the platform and the figurehead at the top.

    Clearly Romney is for the 1% only and Obama for the rest of us including us working stiffs and small businesses….so I voted for Team Obama.

  5. The Retired CNBC Sucks says:

    Oh whoopie, I love it when someone posts something about debt-per-household figures, because that means I get to use a calculator in response. In looking at the US Navy budget that has been criticized ad nauseum by Mitt Romney and was discussed (again) in last night’s debate, I determine that the US Navy budget per household to be $1,312 ($150 billion divided by 114,328,000 households). Yes, folks, the average US household spends over $1,300 per year on a navy.

    But that’s not really true. Even though the poor and middle class are taxed probably to their limits, Americans as a whole are under-taxed relative to their spending. The super-rich and big corporations pay relatively very little in taxes, so that means creditors pay the $150 billion navy tab — creditors like main enemy China. If you consider that China spends about the same on its military ($160 billion) as the US spends on its navy, how big the US annual budget deficit is, and how much US debt the Chinese buy, you could make the argument that in recent years, China has spent as much on our navy as it has on its own military. Assuming the Chinese are our evil adversaries, and Americans generally do, I am guessing their strategy for victory is to loan us into oblivion.

    I am glad that President Obama was able to counter Mitt Romney’s criticisms about reducing navy spending with his horses-and-bayonets remark, but what does it say about a culture when its leader can no longer simply look the people in the eye and say “we are spending way too much on the navy, way beyond what we need and what we can afford”?

  6. Concerned Neighbour says:

    It looks like today’s miracle recovery to the green will have to be particularly obnoxious. Then again, aren’t they all?

  7. wally says:

    It’s the uncertainty, you know.

  8. whskyjack says:

    I’m gonna channel Willie Nelson a bit.
    “Turn out the lights, the party is over.
    They sayn that good things must end.
    Call it a night, the party is over.
    And tomorrow starts the same old shit again”

    We are headed into the post election blues with one hell of a cheap wine hangover. We have been telling each other that it is fine Champaign but in reality it was only Thunderbird.


  9. NoKidding says:

    Wheres the uncertainty? They agreed on everything.

    number2son has it right, though Bush 2 vs Kerry was nearly as aweful.

  10. wally says:

    The uncertainty is that the election now looks like a closer contest, according to polls.