David Fry's Daily Market Outlook

The republicans had lots to worry about last night and their worries will continue for two years providing the media with lots of drama and ad revenue.

Mr. Market? He doesn't worry. If the sides change he'll make some adjustments and move on.

The Dem's have some sectors that they historically like to beat like a piñata including energy, healthcare and defense. So, Wall Street pundits are recommending some rotation from those to more favored financial and tech sectors.

Dem's purportedly favor tech and financial sectors. I don't know why the former any more than with the GOP but that's the buzz. In the meantime, it's said that the GOP wanted to put restraints on the lending and mortgage practices of Fannie Mae (FNM) and Freddie Mac (FRE) while the Dem's are more willing to leave things as they are—out of control.

If the GOP had done well, "some" were saying, it would be good for the dollar which I find odd. The dollar did nothing much today.

Let's take things around the horn a little bit.

The big story bearish investors may be missing is the growing economies overseas that continue to lift all boats it seems.

So the reaction of Mr. Market to all the hype over the mid-term elections is "no worries" and "get out of my way!" The bulls are still in charge armed with tremendous liquidity that needs to be invested anywhere and everywhere. We're just going along for the ride not trying too hard to make sense of it since that job belongs to others.

Cyber gods willing, we'll chat again tomorrow.

Have a pleasant evening.

Disclaimer: The ETF Digest maintains positions in: S&P 500 Index (SPY), iShares Russell 2000 Index ETF (IWM), MidCap SPDRs ETF (MDY), NASDAQ 100 Trust Shares ETF (QQQQ), streetTRACKS Gold Trust ETF (GLD), iShares Lehman 7-10 Yr Treasury Bond ETF (IEF), iShares Dow Jones Select Dividend ETF (DVY), iShares Goldman Sachs Networking (IGN), iShares NASDAQ Biotechnology Index ETF (IBB), iShares S&P Europe 350 Index (IEV), iShares MSCI Emerging Markets ETF (EEM), iShares MSCI Mexico Index ETF (EWW), iShares MSCI Brazil Index ETF (EWZ), iShares MSCI Canada Index ETF (EWC), iShares MSCI Spain Index ETF (EWP), iShares MSCI Malaysia Index (EWM) iShares MSCI Australia Index (EWA), iShares FTSE/Xinhua China 25 Index (FXI) and India Fund Inc. (IFN).