In eleven days, Barack Obama will become the 44Th President of the United States. For the last few weeks, he has been trying to change the psychology in the markets. His economic speech this week gave us a glimpse of his plan. It seems that he will do whatever is necessary (more than $1 Trillion?) to turn this economy around. He will present the world with a leader that wants to solve problems. He doesn't want politics to get in the way (keep Nancy Pelosi quiet). Hopefully, this change in psychology will lead to a honeymoon with the markets. The so called OBAMA RALLY should begin sometime next week. We should expect continued negative economic news for the next few months. The combination of a President who is a world leader and a massive economic spending plan will lead to a significant rally. What if we don't get the rally?
Random thoughts....4Th Quarter Earnings reports begin next week...hold on to your seat.....will negative news be discounted or will it lead to a test of 7800....what about Robert Rubin quitting Citi....or the merger of Morgan Stanley's brokerage unit and Smith Barney....in Eleven days, the world will change forever.....
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Eleven days...WOW...Yep, the 44th President. I think so many of us will be locked in our respective "TV chairs" for the Obama speech on January 20, 2009. Let there be a light at the end of this tunnel.
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