THE MARKETS VIEW THE DEBATE

Make no mistake, yesterday's rally was big and put together with prior days we have big volume. Big. The market is saying that Bush "won" the debate. Now before you go into your girl friend's savings account, reflect a little. The Wall Street crowd is too smart by half. Filled to the East River with doctorates, math geniuses, hackers, and thieves. I get to read their "secret" output in some newsletters and they all reek with intelligence.

Kerry proved that he will seek UN approval before the U.S. can act. America will never accept that.
He can't double the Special forces without lowering standards and everybody knows that. He wants to feminize our best fighters.
He will raise taxes and nobody will stand for that.

Trust me, these guys are so full of shit their eyes are brown. Half the people pay no Federal Income Tax; half the people don't have a clue about the UN (they're taking the UN and the points this weekend), they don't even know who their representatives are; 30% are illiterate (studies are showing that 30% of our population can't read a bus schedule); and at least 40% hate their own country ( Frisco it's 85.6%). Wall Street is betting that once the debate is digested somehow Bush will be the winner. Winner doesn't count. Perceptions are what count. I want to see more volume confirmation for a few days yet. Buy only if all your ducks are in a row, and I mean all. Sell when your sell signals show. This semi-bull could end with the letters "i" and "t" and Wall Street is infamous for that.