Obama Victory = DOW down 300+

Hey guys,

Here is a honest question here.

If people and corporations felt that an Obama victory was going to be beneficial to the US economy, and was generally going to turn things around, wouldn't the stock market be positive today, instead of negative?

Very concerned.

Everybody is selling so they can buy guns. Under an AWB the guns would return a better investment in a shorter period of time. Some 200% return.

reply to post by ShooterSix

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because its the economy that is bad not the elections


do you think obama can change wall street and investors? no

if this wasnt post election day, i still think it would have gone down

he is only the elect right now, he isnt sworn in for 3 months

repeat 3 months

how much faith are you going to put in the predictions of the people that caused the financial crisis in the first place. screw them, they're idiots.

EDIT: clumsy fat fingers

[edit on 5/11/08 by pieman]

It's still a Bush administration, though a dead one.

well that's rather an unfair conection Obama= market fall...

Really what inversers are reacting to is two bits of bad news Manufacturing and Services industries, contracted more then predicted they would... showing even greater signs were in a still in a deepening rescission and getting worse by current markers

9,198.37 -426.91 20 min before closing time...

9,153.53 -471.75 going down...

[edit on 5-11-2008 by JanusFIN]

Nasdaq below 1700!

1,697.14 -82.98

The markets will get a lot worse - Obama can not fix the economy. He's been purchased by JP Morgan, Goldman Sachs and all the other big banksters. He'll do as he's told. People are bailing out of the fake markets and buying things like guns, food and water (things that are actually worth something). This is allowing the largest predators to scoop up all the little guys on the cheap thus consolidating their control and power even further. As long as we have the Federal Reserve cranking out monopoly money the dollar is doomed. Soon the inflation will be so bad it'll be like Zimbabwe.. people will have buckets full of worthless paper money. Plus it sounds like the dollar will soon be replaced as the worlds reserve currency (new Bretton Woods). I think the markets are going to have to fail so the elites can put forward this plan of a new global currency system. It's going to be a wild ride.

thisguyrighthere gets a star

[edit on 5-11-2008 by MetatronCubensis]

I honestly think that investors would feel more secure under the GOP as far as the types of policies .. that is, lower taxes, more government spending for corporations etc etc..

Where as the Blue's want to raise taxes on the rich and corporations..

Whether that is "right or wrong" is up to your politics honestly, point of the matter is whats best for the economy at this point in time..

It should be noted however that TRADITIONALLY markets fair better under Democratic leadership .. due to regulation and restrictions it leaves little room for fluctuation (except good ol' jimmy who was a pos president and had little to do with his side of the aisle)

Interesting to see Bush enter office with Clinton's recession just to leave office with one of his own making.

In my PERSONAL OPINION .. Obama will be bad for the economy due to his inexperience. Hope I am wrong, but a junior senator who never even completed his term just doesn't cut it for me. I see things just getting away from him, and spiraling out of control. He has a strong VP though, so maybe this president will be a puppet like the last?

Don't you guys watch CNBC, Fox Business or any other financial news coverage?

They have been predicting a down day if Obama is elected for weeks now, simply because those who make the big dollars preferred the McCain plan when it comes to taxes, because it benefited them the most.

Other than the expected bet for a down day today due to Democrat being elected, we also had weak numbers showing our economy is bad and only getting worse.

[edit on 11-5-2008 by worldwatcher]

btw I forgot to mention one other factor in today's down movement.

the latest method of trading if you haven't noticed the past few weeks has been to "sell the rally" and after yesterday's rally, obviously there was profit taking going on also today.

This is now Obama's Stock Market. People buy and sell stocks based on their predictions of how well the market will do in the future. The future does not look bright. Sell now and keep more of your gains, since Obama has said he will raise the capital gains tax, and you don't have to make more than $250,000 a year to receive capital gains.

If you haven't read Ayn Rand's book "Atlas Shrugged" now is the time!

[edit on 5-11-2008 by RRconservative]

reply to post by ShooterSix

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Too soon, too fast....

Bush is President for 75 more days, and you want some sort of Obama 'magic' to miraculously fix 8 years of bad policy less than 24 hours after the polls close on his election.

Perhaps you are used to a world where everything is instant. You microwave your meals or eat fast food. Always speed on the freeway. if you have a headache, you take a vicodin.

I hope not. But if so, you need to gut check yourself, and open your eyes to reality. It might not take 8 years to fix 8 years of problems, but expecting a President Elect to change the world before he is capable of enacting any sort of policy is completely naive.

Sorry, the 'State of the Union' is still in Bush's hands....
DocMoreau

It's a given that the long term capital gains rate will increase in an Obama admin (I think i've heard from the current 15% to around the clinton-era 25%). Now I personally don't believe that is too onerous, but if you could sell something between now and the first week of February and pay 15% taxes instead of 25% wouldn't you? If I weren't all in T's currently in my IRA I'd be selling too. I'm hearing some disturbing rumblings about what some of the more left leaning Dems want to do to our Roth accounts and if it looks like that's going to pass I'll close the damn thing out, take the tax hit, and encourage everyone I know to do the same.

This current "recession" obviously due to the housing bubble bursting cannot be blamed on anyone but congress, not the free market. In the absence of government interference, it is unlikely that a lender would extend a mortgage to a person with a poor credit history, making no down payment, and providing no verifiable employment history. But under the pressure of the government's Community Reinvestment Act and Fannie Mae and Freddie Mac buying up or guaranteeing such mortgages, a lender will. Now we perpetuate the whole thing by bailing everyone out. If we're going to point fingers lets point at the dems in Congress. Now with the newest bone head elected proposes we tax those reponsible for job creation and what is essentially the embodiment of the U.S. economy, the big bad corporations! Are you really surprised they're taking their money and running as far away as possible.

Gas prices went down quite a bit since Obamaramma's win out here in Wy.

1.87 Gal. Groceries are also cheaper too.

Jobs all over the place.

Dont see any economic crash going on out here.

Not saying Obamaramma's win had anything to do with it..but over the last two months, costs of everythinig out here have dropped considerably compared to the rest of the asleep parts of the country.

Cheers!!!!

reply to post by RFBurns

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If your a goldbug don't read this.

It's called Deflation and it's the thing Depressions are made of.

Anyone who has ever spent time trading stocks knows that the movements of the broad market can not be attributed to one event except for things like 911 or the news of banks failing left and right. The market has had the wind knocked out of it and will behave chaotically for some time until professional investors get a sense of direction.

You always hear on the news something like, "the Dow fell 75 points today as investors reacted to unemployment numbers". This is ridiculous. If I am trading stocks I sell if it looks like a good time to sell from tecnical charting. General anecdotal news like unemployment numbers, a different companies earnings, GDP rise or fall are meaningless to my decision to pull the trigger when buying or selling.

Blaming the days market on Obama is absurd. What is going to happen when it goes back up? A thread about how the market loves Obama?