On the web since 1997
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On the web since 1997 |
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Don King is Loving ThisLuke Hodgens / Powerhouse Profits -- It was every fight promoter's dream - two heavyweights, one title, a huge audience and a lot of hype. The stage was set, the lights were bright and the suspense could have been cut with a butter knife. Fighters were geared up and ready to pounce - the audience eager as a child on Christmas day. This was the big prize fight; it would settle disputed market conditions once and for all...at least until the election. Bears vs. Bulls - Available on pay-per-view for only $49.95.As Friday the 8th grew closer, both fighters began their pre-fight rhetoric. Bulls noting the recent market rally and the Bush lead in the polls, Bears noting deficits and a weak dollar. But rhetoric only goes so far - it was time to brawl. Round 1: Estimates for new job creation ranged from 140 thousand to 150 thousand depending on the odds maker with an expected increase in unemployment from the very low 5.4% to 5.5%. Bookies took their bets figuring a report of less than 140K would cause a sell off and a report of greater than 140K would spur buying. The round one bell rang early Friday as the Labor Department released the stats. 94,000 new jobs were created in September, but unemployment held steady at 5.4%. The market sold off as Bears claimed a victory. The win, hardly a knockout, was just enough to impress judges and spur selling. Compubox scoring had Bears landing just one more punch than bulls. Although Bears claimed victory on the jobs number, Bulls held their own on the steady unemployment rate. Round one scored 10-9 on the 10 point must system for the Bears. Stocks sold off as predicted. With round 1 settled and behind the fighters, preparation for round two began as soon as the market closed. Again, the rhetoric flew. Bears noted the Kerry win in the first debate; Bulls noted the town hall style format favored the energetic, connective Bush. Round 2: Odds makers for round two had Bush as a slight favorite. After the Cheney-Edwards debate was decisively won by Cheney, momentum was in the GOP corner. Kerry, attempting to repeat his past performance was stuck in a format where he had to actually pretend to relate to ordinary people. Bulls smelt victory, Bears were nervous. The candidates came out firing. Kerry continually promoted his "specific plan" without revealing details, or being specific. He disagreed with things he partially agreed with and was fuzzy as ever. He concurred with just about every decision the President made, but would have proceeded with those decisions in a different manner, more wish wash. President Bush was on the attack. He hammered away on the pre-war data that both he and his opponent agreed was fact at the time. Bush piled on Kerry for not acknowledging the sacrifices of lives and capital that other nations in the coalition were making. And perhaps most harmful to Kerry was Bush's challenges to Senator Kerry's 20 year voting record which is contradictory to his platform. The round 2 winner was announced immediately after the debate as CBS, and other biased outlets, called it a draw. When Dan Rather's crew cannot find a reason to call Kerry a winner, you know who came out on top. Bulls earned a clear victory in round 2 with Compubox scoring showing Bush had two punches more than Kerry. The 10 point must system scored 10-9 in favor of Bulls. As predicted, stocks opened higher on Monday. With a two round bout scored 19-19, the fighters, Bulls and Bears, have nothing solid to move the market. This pay-per-view event is precisely what Don King loves, a draw. Now the Don Kings of the world can promote a rematch to be held on November 2, 2004. Stay tuned for details. Luke Hodgens is the editor of Powerhouse Profits a conservative investment newsletter. Click here to read more of his cogent analysis." |
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