Another black swan has popped up. The market selloff in the past 30 minutes is attributed to Senator Bird's passing. Or is it because of profit taking from the bets on Friday? Or light volume before NY opens and positioning for the next leg up?
You're not going to make money reading this article. But coal stocks may be overpriced since for his entire career he protected the industry and now may have environmental regulators flood West Virginia.
http://www.marketwatch.com/story/sen-robert-byrd-dies-at-92-2010-06-28?dist=beforebell
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