...And Traders Think He Willby
Few Wall Streeters are Michael Metz-style liberals. But judging by what was said at the Oct. 18-22 convention of the Security Traders Assn. in Boca Raton, Fla., top traders, like many other Americans, are convinced of a Clinton victory and are ready to adjust to the change. "Most of us are pretty well fed up with the status quo," says Security Traders Assn. President John Watson III. Furthermore, Watson thinks the stock market will do well under Clinton and hit new highs in 1993.
The traders are seeking stocks they believe will benefit from a Clinton Administration--namely, high-tech stocks, says one big trader. Why? Because Clinton wants to once again make the U.S. the world's leader in technology. Construction and engineering companies should prosper under Clinton's proposal to increase infrastructure spending. Pollution control and environment-service companies should do well because of stepped-up environmental programs. And some think the Democrats' efforts to contain health-care costs will be a boon for generic-drug companies.