TJ Parker: There is little doubt the market was "very" oversold and looking for an excuse to rally. I am not sure serendipity is the right word.
It may well be Obama's team planned the release so it could be used as the excuse. Who knows, he and his team may be that smart or may be that connected. I would be more inclined to say coincidence and if that event had not been available another would have been used as the excuse.
Frankly, I just do not buy into the notion that traders everywhere heard the news and instantly thought it was a great choice that would be good for the markets and the economy. Heck, the pundits will be pontificating about the pros and cons of the choice until the swearing in...gg
LG
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