Good News Comes in Threes

Three amazing things happened yesterday. The first was the resignation of Donald Rumsfeld. Since Rumsfeld was the chief architect of the war in Iraq, I take this as an acknowledgement from both Bush and Rumsfeld that the war was a failure. It now looks like Gates is charged with cleaning the mess from Bush and Rumsfeld. You know when the President says they need a fresh perspective he’s acknowledging that the status quo isn’t working.

The second major blow to Bush occurred when the control of the Senate turned over to the Democrats as Jim Webb was declared the winner in the Virginia Senate race. The victory brings the number of votes the Democrats get to 51 giving them a majority for the first time since 1994. They will likely try and keep the spending of the Bush government in check. Does anyone besides me see the irony in this?

The third thing is that Cisco posted great earnings and guided higher for the future so expect a tech rally today. I know the two stocks I’m holding aren’t tech stocks but I’m hoping the positive news on Cisco moves Nasdaq up in general. Let’s keep our fingers crossed. I have a feeling the mood may turn positive until the end of the year. Lookin for that Christmas rally….