"Market rallies with confirmation of a gridlocked government" OR "Market sells off as Democrats take capital hill" http://www.electoral-vote.com:2006/ has: Projected New Senate: 51 Democrats 49 Republicans & Projected New House: 239 Democrats 195 Republicans 1 Tie What do you think?
No matter what happens wallstreet will spin it as bullish. Every situation is bullish to wallstreet. Their is nothing wrong with being bullish, the best time to be bullish is when everyone is bearish.
The question is though, how will the oil markets react if Prop 87 in California passes? That'll generate $4 billion for investment and research towards alternative energy. The $2 tax per barrel will have an effect, but how will the oil market perceive this as it pertains to the future of oil? $4 billion for investment and research towards alternative energy has to produce some sort of impact on the consumption of oil, hell who knows, they might even discover how to make a cheap gasoline free car! lol