The market shouldn't be at all surprised when the news hits about the Obama package. It has been discussed daily by the media. Thoughts?
At the same time I could argue the lag between now and initial implementation of the package (2-3 months?) has been depressing the market. The black hole of policy and inaction (fiscal stimulus wise) has been really very bearish for the markets, and might explain why we can't sustain a meaningful move up.
Agreed. And unfortunately, the implementation of such a package will take a lot longer than just 2-3 months . . . more like 6-8 months if we are lucky. I know that there are a lot of projects on the "shelf" ready to go, but at the very least, can you imagine how many environmental impact reports (EIR's ) will need to be filed and reviewed before any construction on infrastructure can even begin?