Monday, October 20, 2008

Palin Supports Federal Ban on Gay Marriage

Today, Sarah Palin openly supported a constitutional ammendement to ban gay marriage, saying she believed that traditional marriage is the foundation for strong families. Of note, her view is different from that of John McCain, who feels this decision should be left up to the states.

I agree with Mr. McCain here. It's a states rights issue. BTW, the CT supreme court voted to allow gay marriage last week. I don't feel strongly that gay marriages must exist (although I do strongly support equal rights and civil unions, at the very least), but the argument that gay marriage will ruin the foundation of marriage just doesn't hold water. It doesn't seem that couples with "traditional marriages" in CT are suddenly seeing their marriages collapse because of the new ruling.

11 comments:

Don said...

I have never understood why people think we need the government to make marriage sacred. The involvement of government taints marriage more than homosexuality ever will. If you want to belong to a church that sanctifies marriage only between a man and a woman -- fine. But why do people care so much about the opinion of the people who brought us the DMV?

Anonymous said...

I think they should do away with special rights for married couples of any kind.

Anonymous said...

a truly unimportant subject in light of all else that is happening. against same sex marriage, but truly not in my top 20 issues.

Anonymous said...

don, you start a blog!@

elsquid said...

agreed. not a big blip on the radar screen with everything else going on.

only thing i would add though, is that IF government is going to treat married couples any differently (i agree that they shouldn't) for tax purposes or whatever, same benefits should extend to same sex couples. or more simply, just do away with the benefits for everyone, gay, straight, whatever.

Cocameister said...

Elsquid,

Never mind about gay marriage. How about how the triangle ended up playing out? It played out to the "T" with the exception of a little fakeout earlier in the week.

Look where the price is sitting now, right back within the bottom of the triangle.

Follow this link:

http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p25049452252

If you can't access it, email me and I will send you a shot of it. It is a thing of beauty.

elsquid said...

all i get is a chart with the moving averages - i'm guessing it is missing some of the graphics that you are referring to.

if we are nearing the point of the triangle, weren't you saying in a previous post something about how the breakout from that triangle (whether up or down) will take as long to develop as it did to get to the point of the triangle itself? so far, seems like support has held and resistance has also stayed in place. what will give first? thoughts? or still too early to tell?

Cocameister said...

Elsquid,

Try this link out:

http://breakpointtrades.com/file.php?id=2254


Too early to tell, but what we would best would be for it to test the uptrend line one more time. That would make Wave 5 in Elliot Wave theory. That would likely lead to a downside resolution (this is the last chance for the market to try to break to the upside).

Alternatively, if we fall back out of the triangle tomorrow, then that is what the market is saying. The early projections on what I am reading (if that happens) is Dow 7000 and S&P 750. This is based on the length of the downtrend that preceded the formation of the triangle (it's a measured move).

I didn't post it because I was actually busy, but I actually tried going short but I screwed up by just a few points. I waited for the first 30 min and then bought, and placed the stop just below the low of the day (after the gap up on the ETFs).

The price at 10:45 on all indices was just slightly below by stop price, and I got stopped out. Missed a 15% move on SKF (double-short financials) from there by $0.08. Sucks, but I got back in later via SDS to make up what I lost and broke even for the day.

Did you check out any of the websites I mentioned?

Don said...

Coca, stay on topic. If you have a new topic for your blog then POST it. I thought you were talking about a pink triangle for like 10 minutes before I figured out what you were talking about.

Kinda.

julie said...

Don's last comment might have been the funniest comment yet on this blog. I was on a commenting moratorium until then.

Anonymous said...

DON IS KING!!!