The Treasury Secretary Effect

Apparently it’s not Paulson that leads to the equity markets falling.  It’s whenever a treasury secretary is on television.  Whenever Paulson would come on and speak, down we went.  After a while, they started putting Paulson on at 3:00 p.m. CST.  Oh yeah, that’s when the market closes.  Well, today, we got Timothy Geithner on television speaking and down we went.  So, apparently it’s not Paulson, it’s the position. 

The “buy the rumor, sell the news” I was worried about is hitting the market today.  Let’s see if it sticks.  If we go down on heavy volume today, look out below.  But, the day’s not over yet.  Stay nimble but enjoy your shorts.  This is when they come in handy.

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