Friday, January 22, 2010

This may turn out to be the week...

...that populism hit the stock market. Beginning with Scott Brown's breathtaking victory in Massachusetts on Tuesday, moving on to Obama's Volcker-inspired bank plan yesterday, Ben Bernanke's uncertain future at the Fed and Obama's new-found populist rhetoric in Ohio today, I sense a new tone in the stock market. Even though earnings were mostly positive this week, equities were soft.

I wonder if this is the beginning of a correction in stocks.

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