Hmmm ... we are pissing off shortly coz we like to celebrate the Cup in our fav hideaway ...
The roolly-roolly big horse race will take place tonight which could take weeks to resolve the expected bun-fight ... lol
The DOW rebounded last night coz Big Biz has figured the Democrats might take the 6 odd seats they need and if control of both Houses could put a stop to the nutcase in the White House ... and this would be good for biz.
Sentiment right now is fluctuating according to whether an already flush Big Biz believes it can sustain profits as US economy cools or not ... private equity pools are in a 'lather of due-diligence' and smart-cash will continue moving out of property and back into the equities fuelling recent rises as cash chases growth over yields ... e.g. DOW P/E now over 24 !!! ... huh ?
Next test for DOW is resistance at 12200 ... the XJO may want to maintain the disconnect and revert to the mean at somewhere near 5400 ... hence our LONG stop.
Cheers ... tight stops.
This is only my view ... read the red stuff.
DOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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