Today begins our polling for the Democratic presidential race. Voters at SodaHead don’t seem to think that Barack Obama has a chance against either John McCain or Hillary Clinton. Obama has proposed a $210 billion job creation plan and wants to promote fair trade. Clinton is being pushed by conservative pundit Ann Coulter. Which candidate do you think would be best for our economy? Vote in the poll down and to the right!
Market Watch:
Yesterday saw big gains for all of the major markets. The Nasdaq showed the greatest gain in percentage points, with tech stocks leading the way. Other strong sectors included financials and consumer cyclicals. Interestingly, the agricultural sector was down and the energy sector was mixed. The day was certainly a shuffling of dollars already in the stock market. This is in line with DollarBuilder's observations about overall market trends.
Today, all of the major indices are down, with the Nasdaq being the biggest loser in percentage points. Bad news from the Fed on the economic front seems to be the main reason, as Fed Chief Bernanke says that the economic outlook for 2008 is worse and worse. Agriculture is the strong sector for the day, with financials down sharply.
In Play:
Hopefully you've been able to make some money during this recent mini-rally. If you're looking to continue to do so, I hope you had the opportunity to take some profits on UltraShort Dow30 ProShares (DXD) in the past few days. DollarBuilder believes that a 10% discount of this stock's current valuation would be a bargain under current market conditions.We also believe that gold will soon be a strong play as a part of your portfolio. However, we consider the current valuation to be a bit high. Now would be a good time to start learning about trading gold.
Dollar Bill did not own any shares or short positions in any of the stocks he's mentioned at the time of publication.
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Did anyone see Jim Cramer on the Ellen Show? When she asked him who he thought would be the best candidate for the economy he said, "Hillary. Hands down," and went on to cite her knowledge and expertise. I was a little surprised that he was so out there in his support of her, but I guess I shouldn't be. Jim always tells it like it is.
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