Okay, but does anyone really think that Rumsfeld's resignation is the real reason for a rally? I was smart enough to go and play golf today (I've been flat since the end of October) but deep down I had a feeling either Dem or Rep wins wouldn't have an overwhelming affect on the markets because the Dems winning had already been priced in over the last week anyway...
I absolutely think Rumsfeld leaving has to do with the green close today. It made me buy, and I'm just an ordinary retail investor. Oh yah, I've been buying for 2 months anyway. There wasn't much chance that we weren't getting rid of some of the bums yesterday, but it's still nice to see. With Rumsfeld out, that's a bonus. I thought it would dip slightly on the news, but I think the Rumsfeld news was too overwhelming. A lot of Americans are sick of his mishandling of this war. We won the war 2 years ago, why is it such a mess? Most people blame Rummy. Since the market is mostly psychological, the 'change' in the air give people hope. Regardless of the BS fed us by the manipulated Fed figures, most people don't see the economy booming. We saw higher gas prices, then suspiciously low gas prices around the election. We go to stores we see imports. Hope was dwindling, and people all over were thinking of how to emigrate out of the US, and many did. 'Retirement' property all over Europe, Asia and Latin America are being bought up by the thousands... by Americans. THAT's a 'hedge'. NOW we have hope. Good riddance to Rumsfeld, new air, new government, people are getting happier. How can the economy not get better? Whether that's illusory or enduring remains to be seen, but when people believe in the US again, the liquidity hits the market.