Paging CNBC's Jim Cramer, where's the "gigantic" Scott Brown stock market rally?
Cramer late last week :
What does a Brown election mean...? Well, first you're going to get a knee-jerk rally in all the so-called penalized stocks -- the HMOs, the drugs, the medical device-makers. I call it "knee-jerk," though, because these stocks have been on fire for months...It's been clear as a bell that the health care reform wasn't going to affect most health care stocks. That's versus what we thought last year.
More important, though, I think that investors who are nervous about the dictatorship of the Pelosi proletariatwill feel at ease, and we could have a gigantic rally off a Coakley loss and a Brown win. It will be a signal that a more pro-business, less pro-labor government could be in front of us...How about a little bit less like the old Soviet Union? Yeah, that would be a bit more like it. Pelosi politburo emasculation!
Hmm, because in the wake of Brown's win last night, the Dow Jones has been down since the opening bell , and often down dramatically, falling nearly 180 points in Wednesday's trading.
UPDATED: The Dow just dropped below 200 points for the day. Still waiting for Cramer to comment.