The "weird" markets.....After twenty years in the biz, allow me to offer something constructive. All the overpaid assholes on TV MUST come on with a reason for every blip or they lose their face time. Nobody knows day to day why a market does what it does absent some obvious piece of new information.

What we have now is a classic defensive "repositioning" before an election that looks more and more like a Democrat walkover . The fear here is that there is an almost guarantee of a tax increase on investors. Take a look at the "rotation" of the widely held stocks as the huge funds gradually get safe. Trust me, you could see a thousand point crash if it looks like the Democrats are a lock. The one thing holding the market up right now is the conviction that Bush will veto any tax increase.