There's another possibility, albeit a stealth one at that. President Obama's victory assures a continuation of the ultra-easy monetary policy of the
. (Note: Mitt Romney had talked about his opposition to Fed Chairman Ben Bernanke's electronic money printing.) It follows that there are a number of gold/metals miners in the
S&P Basic Materials Index
; some of them were essentially flat on the trading session, as gold figures to benefit from Obama's second term.
Last, but not least, Consumer Discretionary (XLY) showed signs of relative strength in the dramatic selloff as well. It may speak to the electorate's increasing consumption and increasing sentiment. It may also be ignoring revenue misses and poor earnings guidance going forward, but that's for another discussion.
Market Vectors Retail
a less volatile way to invest
in the consumer. It is weighted equally between consumer defensive and cyclical consumer stationary and has a lower beta than XLY. Yet, RTH has outperformed XLY year-to-date.
This article was written by an independent contributor, separate from TheStreet's regular news coverage.