Former Obama supporter/noted shorter of Stark Industries stock Jim Cramer last week suggested that a surprise win today by Republican Scott Brown for Ted Kennedy’s former senate seat, in traditionally Democratic Massachusetts, could be the spark that lights up an explosive rally in the markets, particularly in banking, natural gas, and healthcare stocks.
Well, Democratic candidate Martha Coakley just conceded by phone to Mr. Brown, who looks to have won with 52% of the vote and by 5 percentage points over Coakley. The Dow was up 115 points today, “the rally from tomorrow,” according to Cramer. It’ll be fascinating to see what happens when the markets open tomorrow morning, at the buttcrack of dawn.
Whatever side you were rooting for, or even if you could care less, you might want to take advantage of the opportunity to potentially make some money off this. Money is fun.
Better luck next time, Keith!