Some post-election thoughts...
1. The American people are smarter that the Democrats thought...
2. Wall Street was definitely in favor of GW...
Let me expand on this...
Late in the day, while the polls were still open, the exit polls were showing Kerry with the upper hand...
Both statements above hinge on this fact.
1. The exit polls were obviously in error, as the networks admitted as the night progressed. Either the pollers tried to skew the election by reporting favorably for Kerry (thus discouraging Potential Bush voters that had not voted yet) or those being polled deliberately misled the pollers.
Whichever way it went you have to hand it to the American people for either fooling the "experts" or for not falling for the media game.
2. As the "news" flitered out via the cable channels and the net, the indices promptly tanked... and rebounded nicely this morning when the truth was clear. Further If you watched closely there was a clear correlation between market gains and losses and the "closeness" of the polls. When Bush pulled away the market went up, as Kerry closed the gap the market went down.
As a result I think we are in for the mother of all Santa Claus rallies. A lot of money has been on the sidelines awaiting the outcome of the election.
I hope everyone does well for the rest of this year and for the next four.
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