The market's verdict on Obama

OK, I may be making too much of it, but let me offer you this fact:

The stock market had it's second biggest gain ever on Tuesday, with the rally starting about 30 minutes after the release of a Gallup daily tracking poll showing Barack Obama with only a 2-point lead over John McCain.

In my opinion, much of the market's recent sell-off has been pricing in a confiscatory, anti-capitalist, anti-investment far-left Democratic Party in charge of all branches of our federal government (and state government here in Colorado.)

It's hard to sort out what's causing what, given that the credit crisis is real causing much of the down side and the market had been hugely technically oversold causing rally potential which I believe was released by the market seeing a possibility that McCain might win.

Personally, I don't believe McCain will win; I don't believe it will be close. But the environment is so uncertain that I could easily be wrong, and I encourage people who believe in limited government and liberty to get out and vote (even if you don't vote for McCain, you should support other good candidates in your area.)

In any case, I believe the market showed us in a subtle way yesterday just how bad "they" believe an Obama presidency might be.

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