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Thread: with election decided, it's time to re-evaluate stock portfolios

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    Default with election decided, it's time to re-evaluate stock portfolios


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    Default Re: with election decided, it's time to re-evaluate stock portfolios

    and

    (snip)"Although the market expected Obama to win the election, as the session wore on investors were clearly worrying about the weakness of the economy and pondered what the Obama administration might do to help it. Analysts said the market is already anxious about who Obama selects as the next Treasury Secretary, as well as who he picks for other Cabinet positions

    Analysts said investors were also uneasy in advance of the Labor Department's October employment report, to be issued on Friday. Economists on average expect a 200,000 drop in payrolls, according to Thomson/IFR. Employers have been slashing jobs after a freeze-up in the credit markets crippled many companies' ability to get financing.

    Late-day selling by hedge funds helped deepen the market's losses during the last hour. More selling by the funds is expected to weigh on the market ahead of a Nov. 15 cutoff for shareholders to notify fund managers of their intent to cash out investments before year-end.

    According to preliminary calculations, the Dow fell 486.01, or 5.05 percent, to 9,139.27.

    The S&P 500 index fell 52.98, or 5.27 percent, to 952.77. Through the six sessions that ended Tuesday, the index, the one most closely watched by market professionals, rose 18.3 percent.

    The Nasdaq composite index fell 98.48, or 5.53 percent, to 1,681.64, while the Russell 2000 index of smaller companies fell 31.33, or 5.74 percent, to 514.64."(snip)

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    Default Re: with election decided, it's time to re-evaluate stock portfolios

    and I hope nobody owned shares in Crystallex ... or for that matter, stock in any company whose business / profits involve a de-facto US military guarantee of continued private ownership of foreign assets ...

    (snip)"Venezuelan President Hugo Chavez's government will take over and nationalize La Cristinas, the biggest gold mine in the country owned by Canada's Crystallex, Mining Minister Rodolfo Sanz said Wednesday.
    The move is part of leftist Chavez's socialist agenda that calls for nationalizing Venezuela's natural resources. Over the past year, he has taken over the electricity, oil, steelmaking, cement and telephone enterprises

    "This mine will be seized and managed by a state administration," Sanz said in a statement.

    The Cristinas mine, located in southeastern Bolivar state, is estimated to hold 16.9 million ounces of gold, in proven and potential reserves of the precious metal, according to Crystallex data. "(snip)

    from

    ~
    Last edited by Melonie; 11-06-2008 at 04:08 AM.

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    Default Re: with election decided, it's time to re-evaluate stock portfolios

    the question is will the oil and mining industries be nationalized in the US also? Doesn't sound crazy any more after seeing both the banking and the home mortgage industries de-fatco nationalized. Oh yes, forgot AIG bailed out by the taxpayers. Who is next, GM? Maybe not yet, it's building plants in Russia now.

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