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Obama Wins–Market Sells the News-”Rattle ya Jewlery”

Posted on November 6, 2008 at 4:31 in Fundamental Analysis, News: Scheduled and Breaking, Relevant Ramblings, Technical Analysis by Jerry Furst

By Jerry Furst - Sr Analyst

Investors Education Network

Pre Non Farm Payroll Numbers Disapointed early Wednesday as

Interest rate Cuts of 50bps are expected from the BOE and ECB Thursday. No shock to the charts are expected - but expect the unexpected.

November 5th, 2008 - Nothing but Down

Above - The Major Indexes and the VIX-Volatility Index 5 Minute Charts

Above - USD-JPY 4 Hour Chart breaking Support (click to enlarge)

Finally - the Election of 2008 is Over! - Now What?

Thankfully John McCain allowed Americans to get an early nights sleep Tuesday by conceding defeat - before California and the West coast was even finished voting.

For me, John McCain and Barack Obama both never resonated beyond mediocre sound bites. IMO – Despite McCain’s pleas for others to help him fight, It looked as if the maverick was relieved to give up. Only in the last few days was Sarah Palin allowed to regain her dignity and throw a few punches for him.

The Big Picture - Click to Enlarge

US President Elect Obama makes his acceptance speech Tuesday night

Calls for the lowering of expectations are coming from the four corners of the left.

Now that the media has put the public in a state of mass psychosis, the public will be in need of a “rattle ya jewelry”, John Lennon type statement from the President elect. Reality sank in fast Wednesday as the financial markets gave BO the cold shoulder as the weight of the world began it’s descent.

Leadership Needed Now for US All – Starting with You!

Support Your Local Trader!

The lack of a “True North” – in Government, Business, Religious, and even in personal relationships is sorely lacking. Hopefully Obama will open a honest discussion on the real issues and get deep into the details such as Immigration, Jobs, Energy, Personal and Public Responsibility, Realistic Enviornmental programs, Social Security Reform, National Security, Responsible Oversight, Moral Issues, etc.

The new President elect has proven that the United States is truly a land of equal opportunity - he should start by eliminating any program that favors the affirmative action of any group over another - or excludes any person - regardless of age, gender, color, race, or religion.

And let’s remind the new President that confiscation and the demonization of wealth is not the answer. It is speculation that funded the New World - and his campaign. While greed needs to be convicted and eradicated - the healthy free markets of capitalism and trading allows for the liquidity neccessary for entrepreneurs and small businesses to take risks and get funding for the “next big thing” creating jobs and prosperity. Financial and Trading education needs to become an international priority - Starting within the governments and businesses entrusted to oversee the financial markets.

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Jerry Furst is Sr Technical and Market Analyst and Founder of Investors Education Network (IEN), He is a an active trader, educator, mentor, and trading coach to Select Clients

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Tags: charts, DOW, FX, Interest Rates, John Lennon, Nasadaq, NFP, non farm payroll, Obama, politics, S&P 500, Technical Analysis, trading, unemployment, VIX, Volatility Index

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