I would be surprised if that happened. I think it’s more probable there will be a relief rally on Monday if a deal goes through.
But I’ve been wrong before about this market.
I hope so. It really won’t be about one day of market trading though. We really need that housing bottom worse than anything.
If the “economic crisis” is announced as behind us, it makes you wonder how that would affect the election. Raising taxes might be seen as destroying the fragile balance that has been struck on this “historic night”. ;)
With no deal there will be a drop
Then a surge of bottom feeding.
Then it will be understood that Bush’s dire tactics were a bluff to get everything he wants. It’s not a new tactic to him.
and things will continue as they were, a bank here, an investment bank there, Bush crying in his coffee as he contemplates leaving office without the ability to temporarily buy off a down turn.