Monday, February 9, 2009

"Buy The Rumor, Sell the News"

Stocks have sold off this evening, now that the U.S. Senate has passed a stimulus/spending bill. Now, the Senate and House must find a compromise in conference, which could be a difficult and arduous process. Passage is still not an absolute certainty.
The Dow is down approximately 100 points. Tomorrow, I am looking forward to the announcement of the latest iteration of the TARP and/or financial system rescue plan, as well as the treasury auction.