Finally the mess Washington politicians (mainly tea-party hard-core republicans) created had ended for 3 months with Government shutdown over and debt-limit increased. As always it came down to 11th hour and solution had to come from US Senate leaders. Grand Old Party (GOP) managed to destroy itself by falling into traps of likes of Ted Cruz and lack of leadership skills by house Republican leadership to stand against tea-party hostage-takers! What Obama could not do it in last 5 years (of bringing down Republican Party's approval rating), Ted Cruz managed to do it in 2 weeks. As they say, be careful about who are your real enemies. In this case GOP's main problem is not President Obama but their own party members.
President Obama came out winner in this - not only he stood firm against ransom demands of few crazy politicians but also got what he wanted without giving in much. Looks like President Obama having good success in last few weeks - first in Syria where he made Assad agree to get rid of all his chemical weapons without any bloodshed and now he had managed to marginalize his political opponents in the brinkmanship of debt-limit saga. Good going President!
During this saga, markets were relatively calm since almost everyone knew that politicians are not that stupid to let USA default. Now that dark clouds of default are gone for 2013, all is clear for DOW to touch 16000 (and S&P 1750 and Nasdaq breaking 4000). It could happen even before Thanksgiving.
Right now I am still bullish on solar sector alongwith mortgage insurance. Some of the picks are SPWR ($29), JASO ($10), YGE ($8), MTG ($9), SOL ($5). GNW($13) and so on.
Now that Washington mess is over, let's focus on earnings!
/Shyam
President Obama came out winner in this - not only he stood firm against ransom demands of few crazy politicians but also got what he wanted without giving in much. Looks like President Obama having good success in last few weeks - first in Syria where he made Assad agree to get rid of all his chemical weapons without any bloodshed and now he had managed to marginalize his political opponents in the brinkmanship of debt-limit saga. Good going President!
During this saga, markets were relatively calm since almost everyone knew that politicians are not that stupid to let USA default. Now that dark clouds of default are gone for 2013, all is clear for DOW to touch 16000 (and S&P 1750 and Nasdaq breaking 4000). It could happen even before Thanksgiving.
Right now I am still bullish on solar sector alongwith mortgage insurance. Some of the picks are SPWR ($29), JASO ($10), YGE ($8), MTG ($9), SOL ($5). GNW($13) and so on.
Now that Washington mess is over, let's focus on earnings!
/Shyam
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