In 1994 Republicans won the House for the first time in 40 years. From that point the stock market went straight up until the Dot-com bubble burst in March 2000. Now in 2010 Republicans are poised to take the House again. What would that mean for markets?
No one knows.
My point is not to debate Republicans or Democrats. There are very few differences in political crowds, except in rhetoric. The real issue? Waiting (or hoping) for your guy, on the right or left, to win an election is an investment strategy of ignorance.