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Obama - is democratic nomination fight over ?

Normally I have limited myself to blog on markets and stocks. However this week's events could be historic in terms of next presidential elections.

With North Carolina and Indiana's primary results in favor of Obama and super-delegates finally declaring their support to Obama, looks like he is all but set to seal this nomination. With May 20 primaries, Obama would become democratic party nomination and potentially make an history since winning elections in Nov should be relatively easy (considering that majority of country has been fed up with Iraq war and associated policies)

At home front, myself and my son Yash are supporting "Yes, we can" Obama while my wife and daughter Isha are supporting "Yes, we will" Hillary.

I like both candidates but Hillary sounds too much like same type of politician while Obama sounds inspirational and we need leader like him to pull country out of current mess. I don't know what people felt during Kennedy campaign but I can relate him to Rajiv Gandhi when he became India's prime minister in 1984

Now coming to my commentary on markets:

- Yahoo/Microsoft saga seems to be ending and folks have given up on deal getting re-resurrected at least in short run
- Sprint results would be out on Monday May 12 - would be quite important to set the stock direction. If results are not as bad as previous quarter, it could cross $10 next week
- With AIG's warning, financials were again on shaky grounds this week
- With oil at $126, overall markets are showing signs of tiredness. Is this oil rally sustainable ? IMO, this rally is largely driven by all the financial instruments like ETF, derivatives and actual supply/demand is playing small role. Unless the vicious cycle of upward trajectory is broken, oil could keep on going up and as Goldman Sachs analyst reported, could reach $150 in 12 months. One can consider FSESX or FSNGX as investment vehicles if you want to benefit from oil rise

That's all for now

/Shyam

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