I wonder if these doom and gloom right winged conservatives will ever come out and admit they were wrong if proven so.
I sure would have admitted if I were wrong 8 and 4 years ago - but sadly I was right. George W Bush was a horrible president who made grave mistakes in office.
The markets aren't going to do really great overall no matter who's elected. We didn't get where we are overnight, and we won't pull out of it overnight, either. It's nice to see the markets looking up, today, though on a day when Obama is "expected" to win.
Honestly we were overdue to be selling this rally.
I heard most of the trader fellas on Smart Money last night saying that they couldn't help but get short here.
Maybe we tag 10K once or twice before the New Year, but the 8Ks need some love too.
If I was to smile and I held out my hand
If I opened it now would you not understand?
Biggest post-election decline ever... sorry I didn't get it out earlier... I'm in AZ.
You're amazing I'd like to take you with me to Las Vegas however I don't bet.
Peace
*We CAN bomb the World to pieces, but we CAN'T bomb it into PEACE*...Michael Franti
*MUSIC IS the expression of EMOTION.....and that POLITICS IS merely the DECOY of PERCEPTION*
.....song_Music & Politics....Michael Franti
*The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite INSANE*....Nikola Tesla(a man who shaped our world of electricity with his futuristic inventions)
Biggest post-election decline ever... sorry I didn't get it out earlier... I'm in AZ.
shit, dude. i have to give it to ya. the Dow dropped 486.01. although, the way the market's been behaving lately, such a drop is not all that unusual. we'll have to keep watching...
Biggest post-election decline ever... sorry I didn't get it out earlier... I'm in AZ.
Oh, I thought you meant it was going to do something worse than what has been happening the last month or so. So far, seems pretty par for the new course that was laid out about a month ago. Give me something we haven't seen recently. Yipee, biggest post election drop, as though things have been fine leading up to the election as in years past.
For the love of god. The market being up on November 4 already had an Obama win predicted. The market remained volatile yesterday and today, and will continue to be volatile for some time to come. Why? Not because Obama won. Because it's back to work now on a crap economy that will continue to reveal more and more unnerving economic data for probably several months.
I am not by any stretch an economist, but this is elementary stuff. This market is highly volatile and not even the so called experts have any idea when it will hit bottom. We may be in for another year of this kind of volatility, for all we know. The whole premise of this thread is ridiculous.
San Diego 10/25/00, Mountain View 6/1/03, Santa Barbara 10/28/03, Northwest School 3/18/05, San Diego 7/7/06, Los Angeles 7/9/06, 7/10/06, Honolulu (U2) 12/9/06, Santa Barbara (EV) 4/10/08, Los Angeles (EV) 4/12/08, Hartford 6/27/08, Mansfield 6/28/08, VH1 Rock Honors The Who 7/12/08, Seattle 9/21/09, Universal City 9/30/09, 10/1/09, 10/6/09, 10/7/09, San Diego 10/9/09, Los Angeles (EV) 7/8/11, Santa Barbara (EV) 7/9/11, Chicago 7/19/13, San Diego 11/21/13, Los Angeles 11/23/13, 11/24/13, Oakland 11/26/13, Chicago 8/22/16, Missoula 8/13/18, Boston 9/2/18, Los Angeles 2/25/22 (EV), San Diego 5/3/22, Los Angeles 5/6/22, 5/7/22, Imola 6/25/22, Los Angeles 5/21/24, [London 6/29/24], [Boston 9/15/24]
1) Announcment of record Job Cuts
2) Record loss of Sales in month of October for major retail stores such as Sears, Macy's, and Wallgreens
3) U.S. factory orders in September fell three times more than originally forecast
But Yeah...Let's blame the 400+ point drop on Obama.
What and end that glorious up and down blowjob. Hell we paid $700 billion dollars to watch that show. Now that Obama has been elected isn't it supposed to take longer.
SIN EATERS--We take the moral excrement we find in this equation and we bury it down deep inside of us so that the rest of our case can stay pure. That is the job. We are morally indefensible and absolutely necessary.
1) Announcment of record Job Cuts
2) Record loss of Sales in month of October for major retail stores such as Sears, Macy's, and Wallgreens
3) U.S. factory orders in September fell three times more than originally forecast
But Yeah...Let's blame the 400+ point drop on Obama.
Economics made easy.
Yep, predicting a drop these weeks is like predicting it will rain during fall season. But congrats to the op, you still managed to get your prediction right.
First, the drop was much more than 400 pts. It was not only the worst day after the election ever, it was also the worst week. Indexes are down 7% since election day. Coincidence? I think not. Is it all Obama? Not in my opinion. It also had to do with the Dems increasing their majority. That said, this IMHO did have to do with Obama despite the fact that his presidency may have already been somewhat priced in. Besides the jobs report (released FRIDAY!... the only day the market stablalized), there were no significant market movers released. This decline had to do with confidence in a Democratic leadership...
Markets have spoken... the truth is people, at least here, aren't listening and continue to defend Obama like mindless sheep.
NOTE: BTW... volatility does not mean drops. It means UPS and downs. Predicting a decline in the DOW during this time period is almost exactly as difficult as during a less volatile environment.
First, the drop was much more than 400 pts. It was not only the worst day after the election ever, it was also the worst week. Indexes are down 7% since election day. Coincidence? I think not. Is it all Obama? Not in my opinion. It also had to do with the Dems increasing their majority. That said, this IMHO did have to do with Obama despite the fact that his presidency may have already been somewhat priced in. Besides the jobs report (released FRIDAY!... the only day the market stablalized), there were no significant market movers released. This decline had to do with confidence in a Democratic leadership...
Markets have spoken... the truth is people, at least here, aren't listening and continue to defend Obama like mindless sheep.
NOTE: BTW... volatility does not mean drops. It means UPS and downs. Predicting a decline in the DOW during this time period is almost exactly as difficult as during a less volatile environment.
Yeah, and it had nothing to do with the horrible news with retail sales ... with the automakers ... the fact the October jobs report came out and 240k jobs were lost (the number leaked on Wednesday night) ... ot the fact that unemployment hit a 14 year high ...
Get real.
"You're one of the few Red Sox fans I don't mind." - Newch91
"I don't believe in damn curses. Wake up the damn Bambino and have me face him. Maybe I'll drill him in the ass." --- Pedro Martinez
Yeah, and it had nothing to do with the horrible news with retail sales ... with the automakers ... the fact the October jobs report came out and 240k jobs were lost (the number leaked on Wednesday night) ... ot the fact that unemployment hit a 14 year high ...
Get real.
Get real? Ha haa haaa!
First, the jobs report (employment and unemployment) was released on Friday and it was not leaked. You can't leak that info. I know because I use report on that as soon as it's released. You can't access it until it's released.
Second, retail sales fell 1% in October after a 1% gain in September. THat's clearly not what caused the dow to tank.
Third, auto sales do not move markets.... and although they can shift momentum. This was not a momentum shift... it was a plummet.
First, the jobs report (employment and unemployment) was released on Friday and it was not leaked. You can't leak that info. I know because I use report on that as soon as it's released. You can't access it until it's released.
Second, retail sales fell 1% in October after a 1% gain in September. THat's clearly not what caused the dow to tank.
Third, auto sales do not move markets.... and although they can shift momentum. This was not a momentum shift... it was a plummet.
Sheep it up.
really leads to a no win situation for you ...
If Obama does not succeed, indeed, you are right ... all hail you ... and, the country, in which you live, is in for shitty financial times ahead.
if indeed, Obama does succeed, you look like a fool.
Must be rough inside to cheer so openly for the country's failure.
"You're one of the few Red Sox fans I don't mind." - Newch91
"I don't believe in damn curses. Wake up the damn Bambino and have me face him. Maybe I'll drill him in the ass." --- Pedro Martinez
First, the jobs report (employment and unemployment) was released on Friday and it was not leaked. You can't leak that info. I know because I use report on that as soon as it's released. You can't access it until it's released.
Second, retail sales fell 1% in October after a 1% gain in September. THat's clearly not what caused the dow to tank.
Third, auto sales do not move markets.... and although they can shift momentum. This was not a momentum shift... it was a plummet.
Sheep it up.
Dude.
I don't even like Obama, but i gotta say ...
the market most likely moved down because of the simple fact that it was reaching the top of its "range".
10K is a resistance level, and there were plenty of technical reasons for the charts to go lower.
Secondly, the phrase "buy the rumour, sell the news" applies here just as anywhere.
Clearly the market was EXPECTING an Obama win.
It got what it expected, and it sold the news.
Big whoop.
I'm as much a market fearmonger as anyone,
but this is silly.
The currently "economic" climate in America dictates a certain pricing in equities.
The market already had a stupid run prior to Obama's election.
There was NO reason for the market to be considering a rise above 10,000.
I would say 8k-10k is going to be a medium term range for this market ... out until the end of winter even.
Surely it is no shock to you that the market is under significant pressures these days, right?
If I was to smile and I held out my hand
If I opened it now would you not understand?
Dude.
I don't even like Obama, but i gotta say ...
the market most likely moved down because of the simple fact that it was reaching the top of its "range".
10K is a resistance level, and there were plenty of technical reasons for the charts to go lower.
The main reason charts went lower was because of the Obama win and the mandate to the Democratic Party. If you think markets knew the exact magnitude outcome of an election, prior to the election... you are wrong.
Secondly, the phrase "buy the rumour, sell the news" applies here just as anywhere.
Clearly the market was EXPECTING an Obama win.
It got what it expected, and it sold the news.
Big whoop.
The market may have expected a win, but not to this extent and they didn't know FOR SURE. That's the point. If you think business, in general, is cheering a Democratic Party mandate... I think you know better.
There was NO reason for the market to be considering a rise above 10,000.
Thank you Mr. Market for telling us what the market will and won't do. Why is it that you think you know better than anyone else on here in regards to market performance.... or for that matter... me?
I would say 8k-10k is going to be a medium term range for this market ... out until the end of winter even
Surely it is no shock to you that the market is under significant pressures these days, right?
The market's under pressure. But, there's as much of a chance of it going up as ther is going down. The POINT of this thread was not to debate trends in the market. It was to state that the Obama win will be looked upon negatively by the market.... and the point was proven by the data.
The main reason charts went lower was because of the Obama win and the mandate to the Democratic Party. If you think markets knew the exact magnitude outcome of an election, prior to the election... you are wrong.
I happen to think the markets were more or less efficient at predicting the outcome.
The fact of the matter remains that the Democrats did NOT secure a super majority. Beyond that, the "magnitude" of landslide-ed-ness was relatively unimportant. IMHO.
The market may have expected a win, but not to this extent and they didn't know FOR SURE. That's the point. If you think business, in general, is cheering a Democratic Party mandate... I think you know better.
See above comment.
And again, business in general may not prefer a Democratic government, but the markets, in general, had already predicted and discounted that probability. And this is NOT just MY say so. This is coming from countless market analysts, traders, and "experts" in the field. I happen to trust their opinion on the markets over yours. Sorry.
Thank you Mr. Market for telling us what the market will and won't do. Why is it that you think you know better than anyone else on here in regards to market performance.... or for that matter... me?
I don't claim to know any more or less than you.
I do claim to pay significant attention to the markets, and to the pundits on the markets. Without making myself sound lame, some days i watch 8+ hours of CNBC (because, honestly, i find it to be one of the most substantial things on television).
Let me tell you about the conversation they were having the other day, just prior to the elections, when Mr. "Fraidy-Cat Market" Dennis Kneale asked the octo-box panel of EIGHT industry vets, "DO YOU THINK THIS MARKET WILL REACH 10,000 BY YEAR END? ... Anyone? ANY OF YOU willing to go out on a limb and say 10,000 by Year End?"
NOT ONE OF THE EIGHT SAID YES.
And i happen to view the opinions of 8 industry vets with a substantial amount of priority to yours. Nothing to do with my ego, its just my rational brain making a rational decision. SURE, it COULD hit 10,500 or 11,000 .... but it is UNLIKELY and THE NUMBERS DO NOT SUPPORT IT.
The market's under pressure. But, there's as much of a chance of it going up as ther is going down. The POINT of this thread was not to debate trends in the market. It was to state that the Obama win will be looked upon negatively by the market.... and the point was proven by the data.
Now you have just ignominiously supplanted correlation for causation,
and that is just silly.
You say the Democratic win "Caused" this 2 day decline.
I, along with plenty of other folks with half a brain, tend to think it was a simple reaction to short-term overpricing in the market. We had several very low volume days, wherein clearly the sellers had done their selling, and some fearless buyers made some buys. But the rally was simply unsustainable.
Again, if it took over a year for the market to move down 20%,
why in gods name would you expect a RATIONAL market to move up 10% in less than one week?
:cool:
If I was to smile and I held out my hand
If I opened it now would you not understand?
Historically, the markets do tank the day after a Democrat is elected and they're up when a Republican is elected. For whatever reasons, this is what history shows. However, in the long-term, the markets grow at a much higher rate when Dems are in the White House as opposed to the GOP. Here's some text that my broker emailed me the day after the election (guess he was worried I'd do a sell-off???):
"An interesting fact – Since 1920 when there has been a Democrat President the return in the Market has been 12% and the years that a Republican has been President the Market return has been 4%."
So, a drop in the market the day after an election is no big cause for alarm. Not sure why so many folks in this forum are coming down on Obama. The shit has hit the fan and even though I'm not a Democrat, I'd much take my chances with the candidate who promises "change" instead of the one who has publicly claimed he didn't know much about the economy (and had an idiot as his VP). I'm not much of a finance guy so I can't give specifics on what makes Obama better or worse. Basically, I'm just going on historical trends, but that's enough to make Obama a safer pick over McCain-Palin.
I'd much take my chances with the candidate who promises "change" instead of the one who has publicly claimed he didn't know much about the economy (and had an idiot as his VP).
Not that i would have even considered a vote for McCain,
but i would take an honest idiot over a lying faux-Populist sophisticat.
I'm just saying.
If I was to smile and I held out my hand
If I opened it now would you not understand?
I happen to think the markets were more or less efficient at predicting the outcome.
The fact of the matter remains that the Democrats did NOT secure a super majority. Beyond that, the "magnitude" of landslide-ed-ness was relatively unimportant. IMHO.
See above comment.
And again, business in general may not prefer a Democratic government, but the markets, in general, had already predicted and discounted that probability. And this is NOT just MY say so. This is coming from countless market analysts, traders, and "experts" in the field. I happen to trust their opinion on the markets over yours. Sorry.
A run from 7800 to 10,000 in less than two weeks, when it took a half year to move down that % is stupid. Yes.
I don't claim to know any more or less than you.
I do claim to pay significant attention to the markets, and to the pundits on the markets. Without making myself sound lame, some days i watch 8+ hours of CNBC (because, honestly, i find it to be one of the most substantial things on television).
Let me tell you about the conversation they were having the other day, just prior to the elections, when Mr. "Fraidy-Cat Market" Dennis Kneale asked the octo-box panel of EIGHT industry vets, "DO YOU THINK THIS MARKET WILL REACH 10,000 BY YEAR END? ... Anyone? ANY OF YOU willing to go out on a limb and say 10,000 by Year End?"
NOT ONE OF THE EIGHT SAID YES.
And i happen to view the opinions of 8 industry vets with a substantial amount of priority to yours. Nothing to do with my ego, its just my rational brain making a rational decision. SURE, it COULD hit 10,500 or 11,000 .... but it is UNLIKELY and THE NUMBERS DO NOT SUPPORT IT.
Now you have just ignominiously supplanted correlation for causation,
and that is just silly.
You say the Democratic win "Caused" this 2 day decline.
I, along with plenty of other folks with half a brain, tend to think it was a simple reaction to short-term overpricing in the market. We had several very low volume days, wherein clearly the sellers had done their selling, and some fearless buyers made some buys. But the rally was simply unsustainable.
Again, if it took over a year for the market to move down 20%,
why in gods name would you expect a RATIONAL market to move up 10% in less than one week?
:cool:
First, I don't want to go back and forth with someone who watches eight-plus hours of CNBC a day. No offense, but if that's true... it's sad. I get paid while it's on in the background. It's good only for tracking the market. I can form my own opinion and do not need to gain a perspective by listening to an idiot on TV tell me what it should be. In fact, I was on CNBC a number of times, and if I was watching myself I'd still be suspect of my own opinion. People who are in the know do not need to force-fed by talking heads in order to inform themselves.
Bottom line.... I told people here the market would go down if Obama was elected. It went down significantly. You can say "CNBC said that's not why it went down" all you want. I know for fact that political/voting decisions can have affects on markets. Look up public choice economics... read a few academic papers. Pro-market pundits occassionally need to educate themselves on what it means to conduct empirical analysis and take thier market-bias out of the equation.
First, I don't want to go back and forth with someone who watches eight-plus hours of CNBC a day. No offense, but if that's true... it's sad. I get paid while it's on in the background. It's good only for tracking the market. I can form my own opinion and do not need to gain a perspective by listening to an idiot on TV tell me what it should be. In fact, I was on CNBC a number of times, and if I was watching myself I'd still be suspect of my own opinion. People who are in the know do not need to force-fed by talking heads in order to inform themselves.
Bottom line.... I told people here the market would go down if Obama was elected. It went down significantly. You can say "CNBC said that's not why it went down" all you want. I know for fact that political/voting decisions can have affects on markets. Look up public choice economics... read a few academic papers. Pro-market pundits occassionally need to educate themselves on what it means to conduct empirical analysis and take thier market-bias out of the equation.
At anytime if you want to share with me ANY of your "EMPIRICAL" analysis, just let me know.
Until then, all that remains here is a difference of opinion, with your end of the argument consisting of an unsupported thesis, and a far from "proven" conclusion.
I have also found that desparaging comments about CNBC tend to be the hallmark of both the most egregiously pompous traders, and the most egregiously poor traders.
CNBC is just a medium of communication.
Sometimes there is blatant propaganda to be found (like most of the scripted things Dennis Kneale has to say) ... but more often than not you are simply getting the honest opinions of those actually in the industry.
In fact, I was on CNBC a number of times, and if I was watching myself I'd still be suspect of my own opinion.
Still not sure whether that line alone puts you in the egregiously pompous or egrigiously poor category.
And please, spare me your great list of fortunes and sucesses.
I'm not here to suck you off.
If I was to smile and I held out my hand
If I opened it now would you not understand?
Comments
I sure would have admitted if I were wrong 8 and 4 years ago - but sadly I was right. George W Bush was a horrible president who made grave mistakes in office.
true that.
Go buy some puts so that you can deduct the money you lose on your bet.
DOW -293 right now.
Honestly we were overdue to be selling this rally.
I heard most of the trader fellas on Smart Money last night saying that they couldn't help but get short here.
Maybe we tag 10K once or twice before the New Year, but the 8Ks need some love too.
If I opened it now would you not understand?
Told ya so...
Biggest post-election decline ever... sorry I didn't get it out earlier... I'm in AZ.
You're amazing I'd like to take you with me to Las Vegas however I don't bet.
Peace
*MUSIC IS the expression of EMOTION.....and that POLITICS IS merely the DECOY of PERCEPTION*
.....song_Music & Politics....Michael Franti
*The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite INSANE*....Nikola Tesla(a man who shaped our world of electricity with his futuristic inventions)
shit, dude. i have to give it to ya. the Dow dropped 486.01. although, the way the market's been behaving lately, such a drop is not all that unusual. we'll have to keep watching...
wake up the market is going to fluctuate
Thread win. gg
I am not by any stretch an economist, but this is elementary stuff. This market is highly volatile and not even the so called experts have any idea when it will hit bottom. We may be in for another year of this kind of volatility, for all we know. The whole premise of this thread is ridiculous.
1) Announcment of record Job Cuts
2) Record loss of Sales in month of October for major retail stores such as Sears, Macy's, and Wallgreens
3) U.S. factory orders in September fell three times more than originally forecast
But Yeah...Let's blame the 400+ point drop on Obama.
Economics made easy.
What and end that glorious up and down blowjob. Hell we paid $700 billion dollars to watch that show. Now that Obama has been elected isn't it supposed to take longer.
Markets have spoken... the truth is people, at least here, aren't listening and continue to defend Obama like mindless sheep.
NOTE: BTW... volatility does not mean drops. It means UPS and downs. Predicting a decline in the DOW during this time period is almost exactly as difficult as during a less volatile environment.
Yeah, and it had nothing to do with the horrible news with retail sales ... with the automakers ... the fact the October jobs report came out and 240k jobs were lost (the number leaked on Wednesday night) ... ot the fact that unemployment hit a 14 year high ...
Get real.
"I don't believe in damn curses. Wake up the damn Bambino and have me face him. Maybe I'll drill him in the ass." --- Pedro Martinez
Get real? Ha haa haaa!
First, the jobs report (employment and unemployment) was released on Friday and it was not leaked. You can't leak that info. I know because I use report on that as soon as it's released. You can't access it until it's released.
Second, retail sales fell 1% in October after a 1% gain in September. THat's clearly not what caused the dow to tank.
Third, auto sales do not move markets.... and although they can shift momentum. This was not a momentum shift... it was a plummet.
Sheep it up.
really leads to a no win situation for you ...
If Obama does not succeed, indeed, you are right ... all hail you ... and, the country, in which you live, is in for shitty financial times ahead.
if indeed, Obama does succeed, you look like a fool.
Must be rough inside to cheer so openly for the country's failure.
"I don't believe in damn curses. Wake up the damn Bambino and have me face him. Maybe I'll drill him in the ass." --- Pedro Martinez
Dude.
I don't even like Obama, but i gotta say ...
the market most likely moved down because of the simple fact that it was reaching the top of its "range".
10K is a resistance level, and there were plenty of technical reasons for the charts to go lower.
Secondly, the phrase "buy the rumour, sell the news" applies here just as anywhere.
Clearly the market was EXPECTING an Obama win.
It got what it expected, and it sold the news.
Big whoop.
I'm as much a market fearmonger as anyone,
but this is silly.
The currently "economic" climate in America dictates a certain pricing in equities.
The market already had a stupid run prior to Obama's election.
There was NO reason for the market to be considering a rise above 10,000.
I would say 8k-10k is going to be a medium term range for this market ... out until the end of winter even.
Surely it is no shock to you that the market is under significant pressures these days, right?
If I opened it now would you not understand?
The main reason charts went lower was because of the Obama win and the mandate to the Democratic Party. If you think markets knew the exact magnitude outcome of an election, prior to the election... you are wrong.
The market may have expected a win, but not to this extent and they didn't know FOR SURE. That's the point. If you think business, in general, is cheering a Democratic Party mandate... I think you know better.
Fearmonger? Come on, I stated markets would plummet and they DID. A stupid run? lol This is stupid.
Thank you Mr. Market for telling us what the market will and won't do. Why is it that you think you know better than anyone else on here in regards to market performance.... or for that matter... me?
The market's under pressure. But, there's as much of a chance of it going up as ther is going down. The POINT of this thread was not to debate trends in the market. It was to state that the Obama win will be looked upon negatively by the market.... and the point was proven by the data.
I happen to think the markets were more or less efficient at predicting the outcome.
The fact of the matter remains that the Democrats did NOT secure a super majority. Beyond that, the "magnitude" of landslide-ed-ness was relatively unimportant. IMHO.
See above comment.
And again, business in general may not prefer a Democratic government, but the markets, in general, had already predicted and discounted that probability. And this is NOT just MY say so. This is coming from countless market analysts, traders, and "experts" in the field. I happen to trust their opinion on the markets over yours. Sorry.
A run from 7800 to 10,000 in less than two weeks, when it took a half year to move down that % is stupid. Yes.
I don't claim to know any more or less than you.
I do claim to pay significant attention to the markets, and to the pundits on the markets. Without making myself sound lame, some days i watch 8+ hours of CNBC (because, honestly, i find it to be one of the most substantial things on television).
Let me tell you about the conversation they were having the other day, just prior to the elections, when Mr. "Fraidy-Cat Market" Dennis Kneale asked the octo-box panel of EIGHT industry vets, "DO YOU THINK THIS MARKET WILL REACH 10,000 BY YEAR END? ... Anyone? ANY OF YOU willing to go out on a limb and say 10,000 by Year End?"
NOT ONE OF THE EIGHT SAID YES.
And i happen to view the opinions of 8 industry vets with a substantial amount of priority to yours. Nothing to do with my ego, its just my rational brain making a rational decision. SURE, it COULD hit 10,500 or 11,000 .... but it is UNLIKELY and THE NUMBERS DO NOT SUPPORT IT.
Now you have just ignominiously supplanted correlation for causation,
and that is just silly.
You say the Democratic win "Caused" this 2 day decline.
I, along with plenty of other folks with half a brain, tend to think it was a simple reaction to short-term overpricing in the market. We had several very low volume days, wherein clearly the sellers had done their selling, and some fearless buyers made some buys. But the rally was simply unsustainable.
Again, if it took over a year for the market to move down 20%,
why in gods name would you expect a RATIONAL market to move up 10% in less than one week?
:cool:
If I opened it now would you not understand?
"An interesting fact – Since 1920 when there has been a Democrat President the return in the Market has been 12% and the years that a Republican has been President the Market return has been 4%."
So, a drop in the market the day after an election is no big cause for alarm. Not sure why so many folks in this forum are coming down on Obama. The shit has hit the fan and even though I'm not a Democrat, I'd much take my chances with the candidate who promises "change" instead of the one who has publicly claimed he didn't know much about the economy (and had an idiot as his VP). I'm not much of a finance guy so I can't give specifics on what makes Obama better or worse. Basically, I'm just going on historical trends, but that's enough to make Obama a safer pick over McCain-Palin.
~Edward
===========================
Not that i would have even considered a vote for McCain,
but i would take an honest idiot over a lying faux-Populist sophisticat.
I'm just saying.
If I opened it now would you not understand?
First, I don't want to go back and forth with someone who watches eight-plus hours of CNBC a day. No offense, but if that's true... it's sad. I get paid while it's on in the background. It's good only for tracking the market. I can form my own opinion and do not need to gain a perspective by listening to an idiot on TV tell me what it should be. In fact, I was on CNBC a number of times, and if I was watching myself I'd still be suspect of my own opinion. People who are in the know do not need to force-fed by talking heads in order to inform themselves.
Bottom line.... I told people here the market would go down if Obama was elected. It went down significantly. You can say "CNBC said that's not why it went down" all you want. I know for fact that political/voting decisions can have affects on markets. Look up public choice economics... read a few academic papers. Pro-market pundits occassionally need to educate themselves on what it means to conduct empirical analysis and take thier market-bias out of the equation.
At anytime if you want to share with me ANY of your "EMPIRICAL" analysis, just let me know.
Until then, all that remains here is a difference of opinion, with your end of the argument consisting of an unsupported thesis, and a far from "proven" conclusion.
I have also found that desparaging comments about CNBC tend to be the hallmark of both the most egregiously pompous traders, and the most egregiously poor traders.
CNBC is just a medium of communication.
Sometimes there is blatant propaganda to be found (like most of the scripted things Dennis Kneale has to say) ... but more often than not you are simply getting the honest opinions of those actually in the industry.
Still not sure whether that line alone puts you in the egregiously pompous or egrigiously poor category.
And please, spare me your great list of fortunes and sucesses.
I'm not here to suck you off.
If I opened it now would you not understand?