Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

De-Nile Market- If you don't like the outcome, ignore it !

Traders said the rise was capped by concerns that the outcome of the election may not be confirmed for several days, with Kerry refusing to concede defeat and pinning his hopes on provisional ballots in the key state of Ohio -- which may not be counted in full until Nov. 15. "The European indices really want to rally but although the signs all favor Bush to win the election, you can sense that there is just that little bit of anxiety left in the market," said City Index chief market strategist Tom Hougaard. "You can almost feel that traders are itching to buy the market but are waiting for the final confirmation," he added. In the oil markets, trading was volatile as the election added to existing concerns about oil supplies and ahead of key U.S. stockpile data due later Wednesday. Prices for crude for December delivery on the New York Mercantile Exchange swung by almost $1.50 in electronic trading, rising from a low of $49.02 to a high of $51.20. In late morning European trading, the contract was up 97 cents at $50.59.