Originally posted by pause4thought
Some very positive movements have been recorded on this Election Day:

Shares in New York rallied in early trading on Tuesday as people in the US went to the polls. The Dow Jones Industrial Average closed up 305.5 points, or 3.3%, at 9,625.3 amid relatively light trading.

The Wall St gave too much credence to the people who went to the polls. The Wall St liked John McCain. And then, the next morning, it was one way traffic:

Dow sheds 486 points

By Alexandra Twin, CNNMoney.com senior writer
Last Updated: November 5, 2008: 5:46 PM ET

So what's the "offical" explanation of such a turnaround?

Stocks declined as a layer of uncertainty was removed with the presidential election complete, leaving the market to return to worrying about the economy.

It's understandable that lots of people were happy when Barack Obama won the presidential election. That was a truly a special occasion and various email providers should speedily include his name into the built-in spell check dictionaries to admit the US President-Elect into the world that used to run on other entries.

Speaking of which . . . lots of pro Obama voters put too much faith in the power of the US President to fix things for them, but that's not the case; there are many other powerful factors that shape the future.

Special occasion met special occasion:

The Dow has lost 9.7% in the last two days alone, its biggest two-day percentage loss since 1987 . . .

There hasn't been an occasion where the Dow would lose more (percentage) in a couple of days following the Election Day as much as there hasn't been a US President who didn't have an Anglo-Saxon name. That's where special has met another special.

But why it hasn't gone the opposite way; why is it so that the Dow hasn't gained 9.7% in two consecutive days following the election?

That's because the US President shouldn't be mistaken for a saint with divine powers to change things around and install a righteous order upon his land. There is no way to change the the corporate reports and other related news that will affect tomorrow's market performance, which will be . . .?

The market history never repeat itself in an exact manner, so the stats telling us what usually happens after the Dow loses some 10% in two consecutive days may not be binding. With a little confidence, a gain of 1% to a loss of 3% should take place. It's a racetrack out there . . .



[edit on 11/6/2008 by stander]

can someone please link the thread where some guy on a you tube predicts DOW to crash to below 5k ??

i can't find it since I didn't post to it..

The DOW seems to be recovering from initial significant losses, although anything could still happen. The FTSE closed down 2.38% at 4132.16.

DOW:


(Note: times are GMT)

FTSE:

That was an informative post summing up yesterday's movements, stander. The reminder of the role played by fluctuations in oil prices was a nice touch. Slick new avatar too. All round duderiffic©.

Not for the first time in recent weeks the readings have been reminiscent of an erratic heartbeat:

DOW




FTSE (at close)



All times are GMT.

It looks that the region bellow 8000 points is considered hell by the traders -- no one wants to go there.

Today, the DJIA reached the highest altitude at 11:53 am and then began descending for three hours. Then, at 2:50 pm, at the altitude of 8,108 the warning buzzer sounded in the cockpit: hell ahead, pull up, pull up . . .

It would take a specially mixed confluence of news and events to make DJIA close bellow 8000 points. The economy must sin more for that to happen, but there is a theoretical possibility of ailing giant GM helping to drag the Dow under. But there is only a minuscule of chance that GM would be forced to open the Book of Damnation and read Chapter 11; the American people will not let that happen, as their are known for their great generosity. (Ask IGA execs if you don't believe me.)

Originally posted by pause4thought
Slick new avatar too. All round duderiffic©.

I received a notice from the ATS regulators saying that my previous avatar was larger than the prescribed dimension permits. That notice was followed by a recommendation to re-size the avatar to fit the legal format. It also said that if I don't comply with the regulation, my avatar would be removed.

I disregarded the notice, because my avatar was too big to fail, like General Motors, and I figured that the ATS regulators would have to look the other way. But they didn't; they took it off the face of the Internet promptly.

Someone must have maliciously disabled the warning device, because the historical mark has been reached: the Dow closed bellow 8000 points -- 3 points bellow to be precise. The Gate of Hell has been cracked open and the traders got a whiff of the sulphur aroma. Nice tan too.

I can see the traders feverishly climbing the Ladder of Holy Rescue tomorrow trying to put as much as distance between them and the Abyss of Inevitable Reckoning.

How could anyone disable the warning device like that?

I think we should open the Device Manager (in System Tools) and look for the GM driver . . .

Aha!

3:59pm Nov 20 2008

7,553.48 -443.80 -5.27%



[edit on 20-11-2008 by warrenb]

[edit on 20-11-2008 by warrenb]

Dow reacting to empty Auto bailout plan ,now absolutely plummeting -417 and counting
historic day on wall street


[edit on 20-11-2008 by all2human]

Wow! 444.99 to 7552.29 and the guy on Bloomberg is saying people are pulling their cash as fast as possible and that it will keep falling tomorrow!

- 444.99

nice number, round & full to my senses,
just enough to impel a lot of IRA holders & 401k holders to;
Redeem ! Cash-Out ! Enough-is-Enough !

lets see if the PPT (plunge protection team) has enough purchace power to buy enough stocks & futures to sway the perception of the market.