Todays market action should be the confirmation that the stock market has found some roots. The 940 to 1060 range in the S&P will continue as the trading range. We remain 65 percent long in out aggressive portfolio and 25 percent long in our conservative portfolio. Short bonds and long dollar positions continue.
Our performance check through last Friday shows almost identical performance on the aggressive and conservative portfolios, both up 39 percent over the past 12 months and up 22 percent for the year to date. By comparison the S&P 500 was down 40 percent for the past 12 months.
On the political front the effort to paint Obama as a liberal will fade as the country sees him in action. This election was built on the Progressive grass roots philosophy of Howard Dean, not the Liberal ideas of the Washington insiders. We believe policies will prevail that are good for the country and will help build an economic base. In our view the spectrum of conservative to liberal Democrats , starting with a conservative and ending with a liberal would be as follows: John Testor, Jim Webb, Barak Obama, Bill Clinton, Hillary Clinton, Chuck Shumer, Harry Reid, and Nancy Pelosi. As you may note we put the dividing line between Bill and Hillary.
8:19 AM CDT