There seems to be a common attitude among surviving bears (which appears, in total, to be me and a grubby fellow named Shotgun that hasn't bathed in a while) that Once The Election Is Past, The Fall Will Come. This is more of that "psychology of tomorrow" stuff I alluded to in my recent video.
I don't understand what difference the election will make. People seem to have an image in their minds of Shalom pressing down hard on a Push Markets Up button, and once next Tuesday is done, Obama will say, "Shew! Glad that's over with! Hey, Ben, you can take your finger off the button now!" Why would he? Why? Tell me that.
Now that the government has found the secret sauce to push assets higher, they're going to keep doing so until disaster strikes. It could be years before that happens. I think the election, QE2, and everything else will pass, and things are just going to keep going the same as they've been going for the past 19 months.
In case you haven't divined it, my frustration with the markets is at an all-time peak, so fade this attitude if you choose.
