Market Reaction to Obama's SOTU Address

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None. No one paid any attention. The substance of the speech was "Look at meeeeeeeeeee! I'm BEAUTIFUL!" (Darn, what show is that from? Candide? Now it's going to bug me all morning.)

Bonds this morning are virtually unchanged. Stocks will struggle, but sentiment is slowly turning positive. What flashed through my mind yesterday morning was "400 point rally." We got 230 of that yesterday, so if my spider-sense is still accurate, we've got a few more to go.

As I've said before, there could be the basis of a rally if corporate earnings aren't worse than expected. People have been pricing stocks as if they're all going out of business.

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This page contains a single entry by Francis Cianfrocca published on February 25, 2009 7:26 AM.

On Grand Bargains was the previous entry in this blog.

Some Smart Commentary on the President's Priorities is the next entry in this blog.

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