Miers and the Market

The channels flipped between stations and I saw something on Fox News about whether the Miers withdrawal had a negative impact on the market and whether it caused a sell-off on Wall Street today.

Now I didn't watch the Fox News segment (I have better things to do) but immediately I wondered, "If you are going to peg a recent event for today's sell-off wouldn't last night's World Series win for the White Sox be a more realistic reason?"

Follow me on this reasoning - Houston is one of the largest markets in the country and it is no secret that brokers like to gamble. What if today's sell-off was caused by commissioned brokers in Houston getting their clients to take profits on certain stocks so that the brokers could get some commissions and cover their World Series losses on the Astros before the bookies come calling?

If you ask me - my explanation is more probable.