Vote tomorrow in the BundestagI agree with some of the material that I have read here today about the general market sentiment being very, very negative. I do think there is a bit of a rational pattern in it all, however. For instance, tomorrow there is a big vote in the German Bundestag on new bailout measures. Since Germany is basically the only European country with real solvency, this matters a lot. If the vote passes, I suspect we will have a very positive day, UUU included, and a by-line on the TD Waterhouse explanation of the TSX saying something asinine like 'markets rebound on European bailout hopes.'
Of course, if the vote fails or is delayed, then there will be some very sour moments and I suspect UUU will be carried down. Again, the very short run fate of UUU, like most companies, is tied to events that are totally outside of their control. Here is hoping the Germans are willing to shoulder their new role as the economic leaders of Europe.
Here is hoping that UUU pushes upwards.
E