What does the PB (pull-back) for the last 2 days say about the BHO election? It is interesting to hear all the talking heads tap dance around this issue. They are trying to find any other reason for the losses except the reason one that the market does not like what the BHO and SMDC will do with finances and taxes.
While some of the economic news is negative, there has been nothing that would justify an over 900 pt dump in 2 days so the only major event in the past 2 days was, oh yes, BHO was elected as President with an increasing Democratic Congress and the Congress members in charge of tax policy are talking about raising taxes.
That will chill any rally.
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