Stock Market Nosedives

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Annotated
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Stock Market Nosedives

Post by Annotated » Wed Nov 07, 2012 4:28 pm

Congratulations.

tph24601
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Re: Stock Market Nosedives

Post by tph24601 » Wed Nov 07, 2012 4:43 pm

yes, now the Dow Jone index is only up 63% since late Jan 2009 when Obama took office

fucking socialist

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birdlite
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Re: Stock Market Nosedives

Post by birdlite » Wed Nov 07, 2012 5:21 pm

of course annot ignores the full news (again)
LONDON - Stock markets plunged Wednesday on concerns that newly re-elected President Barack Obama will struggle to agree on a budget deal with a divided Congress and as Europe's economic outlook darkened further.

The ease with which Obama secured four more years in the White House — avoiding the uncertainty of ballot recounts, as in 2000 — had buoyed markets early in the day. But as the day wore on, investors grew concerned over the implications of a still divided Congress.

http://www.startribune.com/business/177 ... ml?refer=y

so, Obama boosted the market and congress busted it.

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Re: Stock Market Nosedives

Post by F4J » Wed Nov 07, 2012 5:33 pm

The news this side of the Atlantic is that it is due to Eurozone growth figures. The US election is pretty insignificant by comparison to economic data from the worlds biggest economy.

Now that the US side show is finished we can all get back to the serious news of European bailouts.

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Re: Stock Market Nosedives

Post by Vince » Wed Nov 07, 2012 9:51 pm

Theres no way the City of London or the London Stock exchange favour Romney over Obama -that's just crazy. Obaba has UK 70%:10% according to recent polls and we all know here how much the global economy is dependent on him, QE, Stimulus etc.

You're hopelessly out of touch Anotated
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Re: Stock Market Nosedives

Post by cowtown » Wed Nov 07, 2012 9:58 pm

A one day decline, what is it compared to Election Day 2008, oh yeah..

And really, so fucking what?

A bunch of investment bankers that nearly tanked the entire economy and had to be bailed out while stuffing their pockets with other people’s money are making some sort of side show protest that regulation is here to stay and they can’t go back to their old Bush era ways of fraud

Really, these 10 time daily markets updates are meaningless to most American, it’s just a scare tactic of the right wing media and the plutocratic media barrens
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Stock Market Nosedives

Post by Capitolhill » Wed Nov 07, 2012 10:01 pm

Wall Street didn't want Obama to win. Not surprised there was a big sell off today. But this is a blip.

Next week some other headline will be pushing the market.
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Re: Stock Market Nosedives

Post by F4J » Wed Nov 07, 2012 10:14 pm

Capitolhill wrote:Wall Street didn't want Obama to win. Not surprised there was a big sell off today. But this is a blip.

Next week some other headline will be pushing the market.


This is not Wall Street reacting to the result, this is Eurozone growth forecasts. Sorry but what is happening in Europe right now is more important

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Re: Stock Market Nosedives

Post by incognita » Wed Nov 07, 2012 10:25 pm

As an adult, the beer aisle at the grocery makes me feel exactly like the cereal aisle made me feel as a kid.

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Stock Market Nosedives

Post by Capitolhill » Wed Nov 07, 2012 11:47 pm

F4J wrote:
Capitolhill wrote:Wall Street didn't want Obama to win. Not surprised there was a big sell off today. But this is a blip.

Next week some other headline will be pushing the market.


This is not Wall Street reacting to the result, this is Eurozone growth forecasts. Sorry but what is happening in Europe right now is more important


I'm not saying the eurozone doesn't come into play (it's been in play for years nothing new here), but an Obama win was going to tank this market. 300 pts was due to in large part to O getting elected and people pulling out.

The investing class in the US is NOT a big fan of Obama. Fiscal Cliff, Eurozone, etc... This was the biggest drop of the year and it happened the day after the election. Do the math.
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Re: Stock Market Nosedives

Post by birdlite » Wed Nov 07, 2012 11:59 pm

Capitolhill wrote:I'm not saying the eurozone doesn't come into play (it's been in play for years nothing new here), but an Obama win was going to tank this market. 300 pts was due to in large part to O getting elected and people pulling out.

The investing class in the US is NOT a big fan of Obama. Fiscal Cliff, Eurozone, etc... This was the biggest drop of the year and it happened the day after the election. Do the math.


Except that most of the financial news m(mine, incog's WSJ, more) says that it isn't an Obama win affecting the market, but the expectation of gridlock between the the house, the senate and the president. So if the Dems had won the senate, maybe the market would not have done what it did today.
Democrats and Republicans can make things much worse if they go over the cliff altogether, which carries with it a 30% chance of another recession, or engage in extreme brinkmanship before they punt, Kashkari said. Such scenarios would result in the same sort of extreme volatility that occurred with the debt-ceiling wrangling last year, which damaged confidence.

“They did real damage because then investors are afraid to make investment decisions,” Kashkari said. “It’s a big magnifying glass on how Washington is broken and how much distance there is between Democrats and Republicans.”

The tone has to be give and take,” said Brian Belski, chief investment strategist at BMO Capital Markets, adding that market angst will diminish if an accord is reached between the Obama administration and the Republican-led House of Representatives.

http://www.marketwatch.com/story/obama- ... atest_news

So, recovery is a 2-party street and either party can make things happen. And that's the party that will win midterms.

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Re: Stock Market Nosedives

Post by coffeeguy » Thu Nov 08, 2012 12:02 am

Some of it's likely Obama. Certainly my Goldman shares took a beating today. Wall Street backed Romney heavy hoping for a regulations rollback and some of Obama's policies are not friendly to the financial sector. Specifically something is going to get done about this hedge fund tax rate stuff. Bigger issue is the financial funding cliff coming due end of year. With election out of the way, market suddenly realized they hadnt priced in the risk of non-settlement. Boehner's comments about not cooperating yesterday didnt help, nor the fact the market is overvalued based on fundamentals. I've been holding cash since the spring looking for a pullback to buy. Another 5-10% and I'll be picking up my buy list.

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Re: Stock Market Nosedives

Post by Capitolhill » Thu Nov 08, 2012 12:12 am

Wall St. hates Obama. I begrudgingly voted for the guy.

Between the hfs, clients and bankers I work with -- easily 90% wanted his ass out of office. I don't buy the narrative that the fiscal cliff which we all knew was looming all of a sudden came up and bit us.

US equity markets took their biggest hit in a year the day after the US election. You can choose to not believe your lying eyes if you like.
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Re: Stock Market Nosedives

Post by Electrolyte » Thu Nov 08, 2012 12:16 am

I can't imagine why Wall Street would react negatively to the loss of the candidate that would have given them four years of blowjobs, in particular by letting them screw people like you and me.

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Re: Stock Market Nosedives

Post by Capitolhill » Thu Nov 08, 2012 12:18 am

Electrolyte wrote:I can't imagine why Wall Street would react negatively to the loss of the candidate that would have given them four years of blowjobs, in particular by letting them screw people like you and me.


Exactly.

Fiscal cliff and Europe are factors, but this was a psychological downer for a lot of US investors. The tape shows it.
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Re: Stock Market Nosedives

Post by judik » Thu Nov 08, 2012 1:06 am

I knew I should have made another bet with LS when he proclaimed that the stock market would drop 10% if Obama were reelected
I would have been 3/3 :cry:
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Re: Stock Market Nosedives

Post by Godjira » Tue Jan 22, 2013 11:48 am

It's recovered and then some!!
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Re: Stock Market Nosedives

Post by Scott_Baio » Mon Nov 24, 2014 5:07 pm

.
Haters wanna hate.

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