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People that come onto internet forums and post nonsense like the OP did are all talk. The OP didn't have any money riding on this at all. I asked about it the day this useless dribble was posted and he/she never responded. Probably had to get back to school and couldn't check the forums again.
Probably right.
I have to admit, I was expecting some sort of post-election optimism rally. DOW Futures went from up 38 to down 9 to up 250. Up 220 when I went to bed. Then I woke up and they were down 150 or so.
I did okay today, didn't make $10K but made a nice profit. The relatively steady progression of yesterday (up) and today (down) has helped. Taking advantage of wild volatility during the day can work, but I also have a job...
The Presidential election had nothing to do with today's market.
The market already had priced in a Democratic win. Now it's back to economics. Bad service sectors numbers and expected bad numbers in Friday's labor report drove the market today.
I think it's too soon to make that declaration, let's see how things go for a few more trading days especially after Fridays bad report. Remember, Obama will be leaking who he's going to put in charge of the Fed and other posts as well as leaking what his general plans really are now that he's elected and any or all of this could have an affect on the market if it sees the info as bad.
As soon as Obama is elected next president of the United States and I can GUARANTEE you he will, watch the markets on Nov.5th rally like nothing you have ever seen before ! I expect the DOW to close + 800-1000 points !
Hmmm. Even turning today's market returns upside down doesn't make your statement true.
The bounce at the end of October happened after the institutional sellers met their redemption quotas and quit selling. Now we're into a new month, and we'll see some big down days until they hit their quotas again.
Yes, and force Americans to pay 5% of their income into a government retirement account for which you will get a whopping 3% return, and then, when you die, your heirs only get 50% of your money back. Let's just hope this does not occur. It's in the discussion stages only.
Quote:
Originally Posted by arctichomesteader
That's odd, I've been reading the dems wanting to abolish 401k's and tax the snot out of them.
Yes, and force Americans to pay 5% of their income into a government retirement account for which you will get a whopping 3% return, and then, when you die, your heirs only get 50% of your money back. Let's just hope this does not occur. It's in the discussion stages only.
Seriously? I haven't heard of that... do you mean Social Security?
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A market turned upside down.
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