Posted on 03/09/2009 1:00:52 PM PDT by quesney
The market can’t stand indecision.
BULLETIN: U.S. STOCKS FINISH LOWER; NASDAQ LEADS THE DECLINE, DOWN NEARLY 2%
US Stocks Lower; Traders Sell Staples, Gold, Buy Banks, Oil
With lingering signs that the recession is spreading further and lasting longer, consumer staples, utilities and technology sectors in the Standard & Poor’s 500 were all off more than 1%. Another investment that traders had used as a safe haven until recently, gold, fell again Monday, and at $917 an ounce, is more than 8% from its high in February.
And how much in addition in 2009?!
I am trying to find the Obama quote where he says the market "fluctuations" don't matter -- when the market is donw 20% since his inauguration!
a coupla weeks ago they said 7,000 was the bottom, I think the bottom is around 3,000
Dow is now down nearly 6,000 points since the democrats retook congress.
“Not to worry. This is just a tracking poll.”
And a gyration, don’t forget gyration. Pay no attention to it.
I found the Obama quote!
Obama faulted as indifferent on stocks
http://www.washingtontimes.com/news/2009/mar/08/concern-urged-for-stock-market/
“With the stock market in a practical free fall since he was sworn in to office Jan. 20, Mr. Obama seemed to dismiss the plunge in equities Tuesday in an Oval Office conference with British Prime Minister Gordon Brown, suggesting that he was unconcerned about Wall Street’s daily fluctuations.
“What I’m looking at is not the day-to-day gyrations in the stock market, but the long-term ability for the United States and the entire world economy to regain its footing,” he said.
“The stock market is sort of like a tracking poll in politics, it bobs up and down, day to day. And if you spend all of your time worrying about that, then you’re probably going to get the long-term strategy wrong,” he told reporters.
But Mr. Wyss and some of his colleagues on Wall Street - where investors have lost trillions of dollars in savings and the market is not so much bobbing as dropping straight down - think Mr. Obama could have shown more concern for the markets, which represent the economy and signal its future direction. “
>>Gonna need a few more bridges, Joe.
>> STAND UP, CHUCK!
It’s all about a three letter word. JOBS. J-O-B-S.
I would love to see a graph of the GDP marketed with control of congress through the Clinton, Bush, and now Obama years. We took control in 1994. We had shared power 2000-2002, and controlled through 2006. I think the graph may be pretty kind to the Grand Old Party.
Rush was playing sound bites from Warren Buffet regarding the Kenyan Usurper’s Marxist programs.....He was against card check, cap n trade, and a few others. Warning that the battle is the ‘ECONOMY STUPID’ not shoving your socialist programs down the people’s throat.
You know it’s bad when the biggest flat-kneed round mouth Kenyan supporters are starting to jump ship.
Thankfully my GE stock means I bet the market today, but only because they sold a lot of paper to shore up that damn capital arm of theirs. Why didn’t I buy Eaton?
“I’m guesing the bottom is at 6,000, but I could be wrong. The Community-Organizer-in-Chief could wake up the morning it hits 6,000 and announce, “because of the bad economy, we need to nationalize health care”. That would send us in freefall to 4,000, but even Obama couldn’t be quite that stupid. Could he?”
That’s the problem with bargain hunting in this climate. Normally, it’d be the way to go. But the earth has shifted here. By pushing for socialism, Obama is creating a new bottom and none of us knows how low it is.
What is the bottom when the very notion of private property is no longer as secure as it once was, with everything we earn and own subject to a new level of taxation (confiscation)? How do you fully price that in? Good luck.
As I recall, NASD peaked at roughly 5150 in March of 2000; closed today at 1269.
That puts it down 75% from its all-time peak.
“a coupla weeks ago they said 7,000 was the bottom, I think the bottom is around 3,000”
Don’t you think you’re being a bit optimistic? :P
Your poll data is off, see my sourced chart just above.
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