The Market On Monday

Good morning and welcome to November. Its going to be a wild month. I am dreading Tuesday's elections. Its going to be blood bath for the Dems as the Tea Party introduces America to the next lower rung of stupid. Hey, let's tell it like it is. Do we see any intelligence in this bunch? I didn't think so. Lots of emotion and lots of strong rhetoric, but that alone will get America deeper into the hole. Bless the American people, rhetoric and emotion always trumps intelligence and planning.

The reports suggests that our collective income is down, no surprise, and that spending is up. Well it is approaching the holidays.

At 8:44 a.m. futures are somewhat fluffy, the dollar is mostly down, and oil is mightily up. How about those gas prices! Cripes! Oil is still within the $80 per barrel range and gas is going up like a bastard. For what, for what reason we ask. Oil per barrel is the same, yet gas can go up 33% easily at any time. Can someone explain this to me and the rest of us.

There are three things to know about the market this week - the elections, the Fed's plan on how to stimulate the economy, and employment numbers for October. After that, there is the ameliorating and as yet not spoken of factor. Who knows what it will be, maybe the Bank of China will decide that it needs to raise interest rates by 10% or some such thing...

CNN: Stocks poised to open higher

While economic reports due out Monday on U.S. manufacturing and personal income are important, they will likely be overshadowed by the impending elections and Fed announcement.


The dollar fell against the euro and the British pound, but was slightly higher against the Japanese yen.


Oil futures for December delivery increased to $82.30 a barrel.