Discussion in 'Economy' started by KMAN, Nov 5, 2008.
Stocks fall as investors ponder Obama presidency: Financial News - Yahoo! Finance
That's a misleading title.
There's no real way to know the sell-off was because of the Obama win. 500 pts. has become commonplace within the market now. This is a typical bear market, and does not necessarily have anything to do with the election.
If the market jumps back up 500 pts tomorrow like it has been doing for weeks now, will the title for that thread be "Stocks rise as investors ponder Obama presidency"?
The market itself isn't going to respond directly to Obama's presidency until he takes office and enacts policy.
So you're saying that the election means nothing to Wall Street? Fat chance.
That seems to be the general consensus, a bear market is unpredictable and Obama's election may or may not have sounded the death knell of stock market investments, but it's way to early to tell, too hinky to predict.
Really though, I think even I (a rude novice in the stock game and still unsteady on my feet) could have predicted a slump today as investors adjusted to the shock. Still we have the housing market driving the panic and the financial debaucle that has yet to settle down.
I am remaining 'in' remaining hopeful and trying to keep repeating the mantra, 'Long term. . .Long term . . . as I contemplate my navel, consult the local fortune-tellers and grit my teeth while going for days without looking at my portfolio.
Good to find you here, by the way. Can use all the sound sensible advice I can find.
Where in what I said would indicate that I said specifically that?
All I'm saying is a measly 500 pt drop, especially in this bear market, is not indicative of investors pondering Obama.
If it jumps back up tomorrow, the logic in the original assessment becomes flawed.
We've been witnessing a volatile market now for weeks. And it's not like we've never seen such a thing before, otherwise. Why all of the sudden now, does it indicate anything different than it always has?
Simply put, there are many unknowns within the market, and investors are wary. I certainly don't doubt that some investors made moves today based on it, but there is more than 2 months before Obama takes office, and most people are going to have made NEW moves before that time, not all necessarily related to Obama's coming presidency.
You're an idiot if you're allocating your portfolio RIGHT NOW, based on something that isn't going to happen for 2 more months. There are so many other things that could happen between now and then.
Again, markets hate unknowns, and no one knows what the radicals that will be in power will do, or even what our President-elect stands for on so many issues.
I'm just hoping ole Clint there has a few more of those Winchesters to pass out. We may be needing them soon!
ADP: Economy lost 157,000 jobs in October - Atlanta Business Chronicle:
Wednesday, November 5, 2008 - 2:37 PM EST
ADP: Economy lost 157,000 jobs in October
Payroll company Automatic Data Processing Inc. estimates U.S. employers cut 157,000 jobs in October, the largest decrease in private sector employment in six years.
I never know why the stock market goes up or down. Anybody's guess is as good as mine. It is all speculation.
I do, fear drives the market. Fear of many things. War, taxes, recession, loss of capital gains, revenue.......everything that can cause fear will drive the market. While everything that drives optimism, raises the market. Things like increased revenue, increased spending, increased oil prices, increased fed rates, lower unemployment, Global economic health. Things like this drive the market, nothing else. Its all up to Americans to get loans and spend money, if they dont do this in mass amounts......the market goes down no matter what, if they do get loans and spend lots of money then the market goes up. That simple. Right now, unemployment rates, the housing collapse, and a weakening dollar has driven the country and the global economy down and it will not come back up anytime soon. We are in a recession.
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