November 26th Edition

Good Morning All,

This morning will effectively bring an end to the trading week as Americans begin to board planes and pack their cars for the annual Thanksgiving fest, thereby beginning a long weekend that is likely to include a different sort of dinner table conversation than that of recent years. To finish on a bright note, we have now had the markets up for three days running, including a two day record performance on Friday and Monday. Would it be so that a bottom has been made and that only good things lie ahead....we may only hope.

The Barack appointments will continue to be announced on through today with most of the important stuff likely to have been concluded by next week. It now appears that Robert Gates will be retained as Defence Secretary and this is seen as both a smart move and a conciliatory gesture by most observors although we are now beginning to see and hear a considerable amount of blowback from the left, particularly among those who want nothing short of a revolution. Gee whiz, I don't think that at my age I would go along with that solution but I would not mind seeing a street of lamp posts decorated with the likes of Rove, Cheney and the bank execs who have recently been seen leaving their bankrupt enterprises with large seven figure cheques in hand.....or as Richard Nixon aide John Ehrlichman once imagined the fate of his presumed enemies.....twisting in the wind.

And finally, after watching the Obama press conferences this week I was truly thankful that it was not John McCain and Sarah trailer trash that were hosting them.....wow, just think about that for a moment...okay wake up.