Stock Market Tanking; Is there a connection to Obama Win?

[Knightskye]

So far it's down 449 points.

Is this because Obama won? I heard he wanted to raise capital gains taxes.

 

[micahnelson]

Nah. Same if there was a rally ... nah.

 

[Xenophage]

Stocks hate democrats, its true.

But you have to remember that short term events in the stock market are emotionally driven.

 

[Knightskye]

Stocks hate democrats, its true.

But you have to remember that short term events in the stock market are emotionally driven.

There'd be a big rally if Ron Paul were named Treasury Secretary.

 

[Liberty Rebellion]

There could be a connection, but who knows. With the President's Working Group on Financial Markets, aka Plunge Protection Team, anything is possible.

Overall, I'd say we're in a bear market and all bear markets have rallies. From what I've read some of the biggest rallies in stock market history came during the Great Depression.


Personally, I'm hoping to ride my 401k up to almost 10k on a rally on the DJIA and then bailing out to bonds. THis thing is going waaaaaaaaaay lower!

And yes, markets are emotional! The freakin dollar is rallying despite our country's pathetic fundamentals. It's emotional and irrational, but markets are driven by humans so what can you do?

 

[libertarian4321]

Stocks hate democrats, its true.

This is counter intuitive, but stocks actually perform significantly better under democrats (on average) than under Republicans.

 

[Arklatex]

He wants to raise capital gains tax and divy tax, and the death tax! That's incentive to get out.

 

[Aratus]

three, four or five days ago...

i predicted this non-D.C out-of-the-information-loop
neo-con panic due to a "yikes" meets "arrrg" factor!

 

[ShowMeLiberty]

i predicted this non-D.C out-of-the-information-loop
neo-con panic due to a "yikes" meets "arrrg" factor!

I guessed this would happen also.
http://www.ronpaulforums.com/showthread.php?t=166017

Not that I'm a stock market expert by any means. It's just what I would do if I earned anywhere near the "magic" $250K per year. I'd move money out of interest earning instruments and into things that would store my wealth but gain little or no interest.

 

[ShowMeLiberty]

Interesting....

Nov 6 - Markets closed

Dow 8,695.79 -443.48 (-4.85%)
S&P 500 904.88 -47.89 (-5.03%)
Nasdaq 1,608.70 -72.94 (-4.34%)

 

[wizardwatson]

Interesting....

Nov 6 - Markets closed

Dow 8,695.79 -443.48 (-4.85%)
S&P 500 904.88 -47.89 (-5.03%)
Nasdaq 1,608.70 -72.94 (-4.34%)

Yeah, oil really got hammered today too. Down like $4.

 

[angelatc]

Stocks hate democrats, its true.

But you have to remember that short term events in the stock market are emotionally driven.

Actually, the market tends to do better during the first part of a Democrat's term than a Republican's term.

 

[pappy]

I learned (possibly wrongly) that the markets don't like it when one party (no matter which) gains control of both executive and legislative branches. They prefer a divided government.

Of course, the politics of Barack Obama and the current hanging on by a thread of the economy probably contributed significantly also.

pappy

 

[OKRonPaul]

I think the market is actually starting to behave more rationally the last couple days. If you look at october there were days with tons of terrible news and numbers being released, yet the market rallied. At least today it was a steady stream of companies announcing poor sales and 3rd quarter losses, and the market behaved accordingly.

 

[StudentForPaul08]

Interesting....

Nov 6 - Markets closed

Dow 8,695.79 -443.48 (-4.85%)
S&P 500 904.88 -47.89 (-5.03%)
Nasdaq 1,608.70 -72.94 (-4.34%)

Odd considering the masses of Obama supporters consider him a "Jesus-like" figure. I would think he would pull the market the other way.