Monday, October 27, 2008

Monday Afternoon Thoughts

  • About thirty minutes before the close, the sellers took over and drove the market down. Not good that this is the kind of late-day action that we are seeing.
  • Meanwhile, the Phillies are up 3-1 in the World Series. At least Phillies fans have a reason to be happy.
  • After the bell, Xerox announces that they're going to cut 3000 jobs. Seems to me that they're just copying other companies. Bah. Bad layoff humor attempt. Sorry.
  • i'm on my cellphone, so I'll find the link later. But Arthur Laffer said, "The age of prosperity is over." The supply-side guru believes that it is the government intervention that is driving the stock market down. (I think from WSJ)
  • The latest election poll gives Obama an 8-point lead over McCain. Meaning, of course, that if McCain scores a touchdown, he'll have to convert the two-point conversion to force the game into overtime.