As expected, prices have slowly worked their way higher as we get closer to the all important mid-term US Congressional elections to be held early this November.
Interestingly, (please refer to charts below) a web based futures contract trading service called InTrade.com has the House going to the Republicans fairly easily and the Senate literally a flip of the coin. While these are nothing more than projections at this time, one can't help but get the feeling the Democrats will not be in total control of the US government for much longer.
How this will effect Obama's remaining two years in his first term shall be seen but I wouldn't be surprised if things get mighty ugly. For instance, there are many Republicans in the House who are very interested in looking into Obama's actual birth records, it may be proven or drawn out over many months that Obama isn't a born American after all.....ugh!
Regardless of what may come, we must live in the here and now. With this in mind, the market is still pointing higher and I am very much long. While I am not in the SPY personally, OnlyDoubles subscribers will attest to the torrent of trading done recently and the plentiful opportunities out there to double your investments very quickly. I have been a metals bull for some time now and have found many Only Doubles trades to be done in the Junior mining market. But, of course, you will need to subscribe to the OnlyDoubles service to find out exactly where I'm putting money to work....
That's all for this week,
Brian Beamish FCSI
The Canadian Rational Investor
the_rational_investor@yahoo.com
the-rational-investor.com
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