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Richard's Remarks


Does this stock market defy analysis? I'm beginning to think so. Yesterday the Transports closed down over 140 points and below 5,000. This occurred along with almost everything else that declined on Thursday. But strangely and curiously, the Dow surged up 19 points in the last few minutes. How is that possible?


The only way I think it is possible is through late buying in the Industrials (by "somebody"). But who could be doing the late buying? And for an answer, I ask the lawyer's usual question -- "Who benefits?"


And the answer to who benefits is -- Obama, in the coming election, since if the Dow is up in the two months prior to the election the incumbent almost always wins. And if Obama wins, Ben Bernanke is almost guaranteed a second term as head of the Federal Reserve. But, you ask, would the Fed indulge in anything that obvious and ... Log in or subscribe to continue reading.

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