We'll be at 9500 for the Dow by election day because of this turd sandwich. But hey, at least everybody got one last bit of pork before election day. http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches-100308.aspx
The Dow dropped almost 500 points AFTER this turd passed the House. It was up 314 and closed at -165. Gee, maybe the public knew something after all?
Well, seeing how it dropped 777 points on the day the bill didn't pass last week, I'd say you are giving the public too much credit. Not to mention nervous investors do not necessarily represent every taxpayer in America (i.e. "the public"). -Pop
It rebounded almost 500 points the next day without a bill. A near 500 point drop after the plan to "rescue" the economy passes doesn't exactly inspire confidence in me.
That's not factually true. It was down over 300 when it was assumed the House bill would pass. When it didn't pass, there was the panic sell. That entire 777 can't be blamed on something NOT getting done.
Normal reaction to a huge sell-off. Speculative traders scooping up bargain basement stocks. Nor me. But I think you're going to have to wait a few days before judging the market's response. Besides, there was also another fairly big announcement today that had an impact on the stock market. -Pop
