Stock markets are seen as enhancing the operations of domestic financial systems in general and capital markets in particular. Election stock markets are financial markets in which the ultimate values of the contracts being traded are based on the outcome of elections. It will be shown that data extrapolated from a stock market analysis corrupted by noise and, in most cases, it appears that no useful information can be extracted from such data. They are measured by valuations, or the prices at which the stock markets are trading relative to their underlying earnings. The bottom line is the US stock markets are still mired deep within the secular bear that started in early 2000.

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