It seems like only yesterday that CNBC stock market comedian Jim Cramer was waggling his pom-poms and telling investors that Scott Brown's successful election was going to lead to a "gigantic rally" in the market:
"I think investors who are nervous about the dictatorship of the Pelosi proletariat will feel at ease, and we could have a gigantic rally off a Coakley loss and a Brown win," said Cramer on Friday's show, anticipating Brown's win. "It will be a signal that a more pro-business, less pro-labor government could be in front of us... Pelosi politburo emasculation! Everything from the banks, which are usually in the Democrats' penalty box, or the oils which are despised by this administration for being carbon, could be propelled dramatically higher all of this Tuesday night."
Investors must be wondering today why Senator-elect Scott Brown has failed to deliver on the promises that Jim Cramer made on his behalf. I'm going to be OK, though, because last week I directed my broker to invest heavily in complex derivatives based on the prospective value of the dowries that would accompany Brown's daughters.