For the next three months, you are not allowed to wake up, see the futures are down big and say to your significant other, "Hey, what's going on?"
Yes, oil prices keep coming down. Yes. Libor continues to come in signaling a healthier credit situation. Yes, the U.S. dollar is ripping vs. the Euro.
Earnings are bad and estimates for 2009 earnings are way too high. This is what happens in a recession. It takes a couple of quarters at least for weaker, or even negative, top-down revisions to work their way into company-specific estimates.
An NBC/WSJ poll found that 49% of voter think Obama will be better for the economy, vs. 22% for McCain. Let's hope so.
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