1. National Review (pro-GOP publication) – Immigration, Proving Not a Silver Bullet For the GOP – “Not a great Election Day for Republicans yesterday. We can argue about how big illegal immigration will play in next year’s elections nationwide, but based on yesterday, it seems clear the issue won’t be a silver bullet for Republicans. The Washington Post looks at the muted response from Northern Virginia voters, and McCain man Patrick Hynes sounds a cautionary note for the GOP.“
2. Bloomberg – “The dollar dropped to the lowest against a basket of six major currencies yesterday after Chinese officials signaled plans to diversify the nation’s $1.43 trillion of foreign exchange reserves.“
3. Boondad – Today’s Markets – “Why are gaps down bad? To Quote Bulkowski from Encyclopedia of Chart Patterns, “…in both cases [of upward and lower gaps] some type of exuberance is driving the stock to create a gap (page 241).” In other words, there is a strong emotional reason for the change. It’s safe to say that a downward gap is a sign of extreme concern. When there are three gaps on a single day, it’s s sign of really extreme concern.“
