Tuesday, November 4, 2008

This Market Makes No Sense

First of all, my congratulations to Barack Obama! It's really historic victory in really historic election.

Now, back to the market. It's crazy. Jim Cramer said today that stocks trade like both candidates won. Market is severely overbought, almost everything is up. It might be time to sell something into strength, will think about it tomorrow. Of course I'm glad that market is up, it makes my portfolio go up as well. It's just annoying that I don't see any reason for it and I'm not alone.

There is some silver lining in the financial markets: LIBOR rate is about 2.7% today. That means that world credit freeze is thawing somehow. Maybe we can avoid deflation. Life is looking a little bit brighter.

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