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I sold the last of my holdings today - a whopping 5 shares of Sprint. Had lost some money on it since I bought them a few years ago. Otherwise I'd been selling off my very small portfolio over the past year-and-a-half or so - some did well, some didn't. I think the most I ever had in the market was about $200. I used to have a 401K but cashed that out a couple years ago and now have a pension.
“Everybody knew this was coming — stocks are close to record valuations and it was a matter of when it was going to happen, not if,” said Dan North, chief economist at Euler Hermes North America.
Again, I don't care. My point is that I don't believe the POTUS drives the market as much as people like to play games with and pretend. And its evident that its just a completely far fetched idea on both sides, such my point that 4-5 days ago Obama supporters were claiming that this was still his economy and Trump had done nothing to help it along. Its a big old game that politicians probably call "trick the stupid gullible people and get their votes" when they aren't in front of a camera.
You don't care that your President spews BS daily? Well I would think you should. You are right, I don't believe the POTUS drives the market. Which is exactly why he should not be claiming he was doing just that in the good times. And if he takes that road he should not crawl under the bed in bad times.
I get it though, you will NEVER EVER criticize or Even disapprove of anything your Orange Blossom Special says or does. You'll grasp at ANY straws to avoid it. I loved Obama, volunteered his campaign, voted 2x for him, and I have some criticisms of him. You finding trump perfect and infallible means I can't take you or any cult 45ers seriously. Only cultists find their leader flawless and God like. Further proof Trumpers have serious mental health issues and ZERO credibility! BTW
I'm not a Democrat , Wally!
I have made this point before. I was an Obama guy but had no problem criticizing him when warranted. The Trump clan simply can not do this. Ever. And that is why their posts carry little weight. They sound like Casey Anthony's attorney spewing nothing but positives and unable to admit the negatives. So they have little credibility.
"Stocks plummeted in volatile trading Monday, extending a steep sell-off from the previous session.
The Dow traded more than 1,500 points lower at one point before swinging back to about minus 1,000.
The S&P 500 was down 3 percent, with health care and energy lagging. The broad index had traded positive earlier Monday as the tech sector briefly rose, then plunged by about 4 percent at its low point. The Nasdaq declined by nearly 2.5 percent, also off its earlier low.
The S&P 500 also traded down more than 5 percent from its all-time high, set last month, and broke below its 50-day moving average, a key technical level.
"Breaking the early lows of the day means the correction could go on for longer," said Art Cashin, a UBS director of floor operations."
Everyone keeps saying a 10% drop is nothing. Is is what it is, and not "minor". Futures are down 350 points, so it doesn't look like its over yet.
You don't care that your President spews BS daily? Well I would think you should. You are right, I don't believe the POTUS drives the market. Which is exactly why he should not be claiming he was doing just that in the good times. And if he takes that road he should not crawl under the bed in bad times.
That's the point.
Exactly the sentiment of a stock analyst I listened to yesterday. He said that President Trump did not 'cause' the fall, save peripherally (noting the tax cut, while the economy was already booming, will probably cause inflation, etc.).
As for Trump, he shrugged his shoulders and said "If he claims the rise, he owns the fall".
No POTUS has taken credit for short term market gains as frequently as Trump has done.
To deflect from the epic free fall of the DOW, Trump chose to refer to the lack of Democratic applause during his SOTU address as treasonous.
Guess he never watched Obama's SOTU addresses where Republicans sat stone- faced instead of applauding.
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