The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: PROLIFE who wrote (6741)	2/11/2009 12:29:37 AM
From: DuckTapeSunroof	of 103300

Re: "Dow drops nearly 400 as bill passes, Geithner speaks Yeah! A) Wall Street was arguing (speaking with the power that they have) that the plan to resurrect our economy was too small for the multi-Trillion Dollar magnitude of the of the disaster that we are facing (& that continues to accelerate downward). And, B) Wall Street starting reacting as soon as they heard Geitner begin to speak... and they did not hear the kind of clear rejection of the Bush era TARP programs that Wall Street was looking forward to. Also, what little that Geitner announced that was new, and a break from what most everyone admits was the failure of the Bush programs, was too nebulous, not sufficiently fleshed-out. Not enough details for the new parts were offered. And, C) the 4%-ish DOW drop was the perfectly normal, to-be-expected fulfillment of the old Wall Street aphorism: "Buy on the rumor and sell on the fact". In other words: buy when action is only being talked about (& hype and optimism is in the air) and then sell to lock-in your gains when action is ACTUALLY TAKEN. (On the theory that reality is most often more dreary and disappointing then the hype of optimism is.) S.O.P. Q.E.D.

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