Health Care Reform Passes, Divided Response

Monday, March 22, 2010

  • Health care reform passed last night by a decent margin. I posted my two cents this morning. I'm fairly negative on the bill but I do realize that no bill was ever going to be perfect and this bill doesn't contain some of the worst provisions Obama had pushed for so I can't be too upset. The response is amazing though and deeply divided. Democrats hail this as a full-fledged fix of the US health care system while Republicans see this as the beginning of the end of the America. My guess is neither will occur and this legislation will be far less impacting than either side's hyperbole would have us believe. Time will tell how things turn out.
  • I witnessed a great argument between 2 guys while playing soccer yesterday afternoon. Two English guys were yelling at each other and the conversation went as follows: English Guy 1: "Go back to f#&%ing Englad, you f#&%." English Guy 2: "I'd love to, mate! What, you think this country is so great? It's on it's f#&%ing knees, mate, it's f#&%ing knees!" Entertaining really, two guys not from America yelling about America, I laughed.
  • The Dow gained just over a percent last week even with some selling seen on Friday. Stocks continue to grind higher with no significant selling pressure. The tape just points higher. Sell-offs are muted and met with slow, concerted buying. I'm trying to stay long even while the short-term momentum trades just aren't there. I keep reading major bearish articles on various blogs but I don't see what they're seeing. Just trust the trend, it has yet to show a change.
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