DJIA 10,785.89 +43.91
NASDAQ 2,395.40 +20.99
SP500 1,165.81 +5.91
Federal Congress passed bill to move toward more socialized medicine. Health care stocks surged higher. The bill will take several years to implement (2014), and at some time before implementation I expect health care stock prices to drop significantly when the market realizes that healthy people will simply stop paying for health insurance and take the small penalty. Healthy people will save paying the huge premium increases, and will simply buy insurance if they get sick because pre-existing conditions will not be denied.
Indices opened down with dollar higher. Dollar sold off and indices went up. If Euro holds here, our indices will go higher.
Gold close below 1070 is bearish.
RAX 19.00 -0.40
SBUX 25.24 +0.27. Earnings Thursday.
WYNN 76.54 +4.79 (6.68%). Intraday 52 week high.
HMA 9.05 +0.92 (11.32%). Health Management Associates Inc.
THC 6.27 +0.52 (9.04%). Tenet Healthcare Corp.
UHS 36.59 +2.13 (6.18%). Universal Health Services Inc.
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