I'm not the only one who thinks some "hanky panky" is going on just before the election. (John Mugarian's Dynamic Growth)

I'm not the only one who thinks some "hanky panky" is going on just before the election.

Here is this week's market comments by Jeff Saut (Raymond James). Among them;

1) "Whats behind this buying panic and will it last? We have suggested the recent rally was preordained when Goldman Sachs (GS/$175.65) reduced the gasoline weighting in its much followed Goldman Sachs Commodity Index (GSCI). By taking the weighting from 7.3% to 2.5%, Goldman literally forced the billions of institutional dollars mirroring the GSCI to sell gasoline futures. We find it interesting that Goldman chose to reduce the gasoline weighting in incremental stages right into the November elections, but thats a discussion for another time."

2) "We also find it interesting that the Department of Energy has chosen not to buy any more crude oil for the Strategic Reserve, even though the reserve is below norms, but that too is a discussion for another time."

Posted by John Mugarian on October 9, 2006 2:35 PM | Permalink

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