Make no mistake about it,
this law is doomed.
The Federal government will have to prove to the Supreme Court where in the Commerce clause it says that the Feds have the right to:
1. Mandate an individual buy something.
2. Mandate a State spend money it doesn’t have.
There is Karma to this as well in that the law was passed in the most surreptitious and cynical manner, against the will of the majority of Americans and bipartisan opposition.
If it doesn’t remain above the 50 Day MA, the 4.53 support may not hold. 50% Fibonacci is $4.13 if we see a bad market. Only real support is at $3.59. Yikes!
I think C is at an important support level now. My guess is it breaks down to 4.53.
Made a very timely sale of BAC last week, so C is on my candidate list.
Legion, 2 federal district courts have ruled against the law, 2 in favor. It will only be resolved when it reaches the Supreme Court.
Judge Roger Vinson of Federal District Court in Pensacola, Fla., ruled that the law will remain in effect until all appeals are concluded, a process that could take two years.
Florida – The same folks who brought us GWB.
rf,
Make no mistake about it,
this law is doomed.
The Federal government will have to prove to the Supreme Court where in the Commerce clause it says that the Feds have the right to:
1. Mandate an individual buy something.
2. Mandate a State spend money it doesn’t have.
There is Karma to this as well in that the law was passed in the most surreptitious and cynical manner, against the will of the majority of Americans and bipartisan opposition.
If it doesn’t remain above the 50 Day MA, the 4.53 support may not hold. 50% Fibonacci is $4.13 if we see a bad market. Only real support is at $3.59. Yikes!
“Having agreed with Montrose this morning, I now have to completely agree with bxgrl at 2.01pm.”
What, pray tell, did they slip in your drink???
etson – It’s only NYC that’s frozen over, not hell!
I think C is at an important support level now. My guess is it breaks down to 4.53.
Made a very timely sale of BAC last week, so C is on my candidate list.
Having agreed with Montrose this morning, I now have to completely agree with bxgrl at 2.01pm.
Clyde is tedious and doesn’t have the intellectual capacity or wit of stevieB and a few other trolls.
Legion, 2 federal district courts have ruled against the law, 2 in favor. It will only be resolved when it reaches the Supreme Court.
Judge Roger Vinson of Federal District Court in Pensacola, Fla., ruled that the law will remain in effect until all appeals are concluded, a process that could take two years.
http://www.nytimes.com/2011/02/01/us/01ruling.html