(Lake Martin Specific)
111,234 messages
Updated 11/3/2024 8:10:01 PM
Lakes Online Forum
84,091 messages
Updated 11/8/2024 10:28:12 AM
Lakes Online Forum
5,204 messages
Updated 9/14/2024 10:10:50 AM
(Lake Martin Specific)
4,171 messages
Updated 5/29/2024 10:51:34 PM
Lakes Online Forum
4,172 messages
Updated 9/9/2024 5:04:44 PM
Lakes Online Forum
4,262 messages
Updated 11/6/2024 6:43:09 PM
Lakes Online Forum
2,979 messages
Updated 6/26/2024 5:03:03 AM
(Lake Martin Specific)
169 messages
Updated 5/31/2023 1:39:35 PM
Lakes Online Forum
98 messages
Updated 4/15/2024 1:00:58 AM
|
|
|
| Name: |
GoneFishin
- 
|
|
| Subject: |
BO and THE MARKET REACTION
|
|
Date:
|
11/13/2008 4:59:26 PM
|
The market was down 300 points until President Elect Barack Obama said he would resign his US Senate seat effective on Sunday as he focuses on his transition to the White House. Proving that the market was waiting for Obama to decide which position he was going to keep, it reacted to the decision and moved into positive territory as it finished up 552 points.
Now, all the nay-sayers can rest knowing that President Elect Obama will bring strong economic opportunities to all American as he begins the long road repairing our country's economic problems. Rather than look into the past, he will look to future solutions in a bipartisan way in keeping with his commitment to CHANGE. The right person for the challenge.
|
| Name: |
Jim Dandy
-
|
|
| Subject: |
BO and THE MARKET REACTION
|
|
Date:
|
11/13/2008 5:36:17 PM
|
From today's Wall Street Journal
*************************
The voters may be full of hope about the looming Obama Presidency, but so far investors aren't. No President-elect in the postwar era has been greeted with a more audible hiss from Wall Street. The Dow has lost 1,342 points, or about 14%, since the election, with the S&P 500 and Nasdaq hitting similar skids. The Dow fell another 4.7% yesterday.
Much of this is due to hedge fund deleveraging, as well as dreadful corporate earnings reports and pessimism that the recession will be deeper than many had hoped. We also don't want to read too much into short-term market moves. But there's little doubt that uncertainty, and some fear, over Barack Obama's economic agenda is also contributing to the downdraft.
The substance of what Mr. Obama has promised for the economy is bearish for stocks. The threat of higher tax rates, especially on capital gains and dividends, now may be getting priced into the market. Add that to investor doubts about Democratic policies on unions, health care and trade -- and no wonder stocks are falling. Lower stock prices in turn reduce household net worth, thus slamming consumer confidence and contributing to what appears to be a consumer spending strike.
If Mr. Obama wants to reassure markets, he could announce that he won't be raising taxes for the foreseeable future. Unlike hundreds of billions in new government spending or more taxpayer cash for Detroit auto companies, this no-tax-hike declaration is a "stimulus" that would cost the U.S. Treasury nothing. In the current market, there won't be many capital gains and few companies will have surplus earnings to pay out in dividends. A higher tax rate on zero gains yields zero revenue, so what's the point of raising rates?
What markets want to see from Mr. Obama is a sense that the seriousness of this downturn is causing him to rethink the worst of his antigrowth policies.
|
| Name: |
Talullahhound
-
|
|
| Subject: |
BO and THE MARKET REACTION
|
|
Date:
|
11/13/2008 5:49:32 PM
|
GF -- you are very. very naughty... LOL
|
| Name: |
water_watcher
-
|
|
| Subject: |
I agree
|
|
Date:
|
11/13/2008 6:08:59 PM
|
I want the market to go up badly, but unfortunately this was a short sellers rally. We may get another day follow through, but unfortunately we are headed lower. There was a major support level at 8100 that was broken intra day by 150 points ... while we finished above, it will have to be tested again, if it does not hold, 7500 is the next support.
We are close to a bottom, but i dont think we have hit it. Financials need to rally in order to have a sustainable rally. Credit is still too tight and banks are still trying to shore up their balance sheet for that to happen until probably the second quarter next year.
|
| Name: |
MrHodja
-
|
|
| Subject: |
BO and THE MARKET REACTION
|
|
Date:
|
11/13/2008 9:04:10 PM
|
I'll have to admit I needed some comic relief and you gave it to me.
Thanks!
Nasreddin Hodja
|
|
|
New Post
Search
Off-Topic Forum
Reply
»
Alabama Lakes
»
Lake Martin
Login
|
Home
