This is exactly how I saw the Obama win unfold. I was more worried Rom was going to win is why I didn't play it. The markets were acting like a Rom win was coming the last few days.
Staying in cash when there is confusion is always a good play IMO. I wouldn't automatically pick gold right now, even though it is a classic "safe haven" as the dollar is at the mercy of Washington and EU. Long term I'm all for gold, but for a day trade or swing trade it will also be caring pretty much risk as well IMO.....watch the dollar closely for any short term gold trade.....
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