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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: PROLIFE who wrote (6741)	2/10/2009 11:15:46 PM
From: Kenneth E. Phillipps	Read Replies (2) \| Respond to of 103300

The Dow only matters if you own stocks or have a 401K. Most people don't have either.

To: PROLIFE who wrote (6741)	2/11/2009 12:29:37 AM
From: DuckTapeSunroof	Respond to 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.

To: PROLIFE who wrote (6741)	2/11/2009 2:05:46 AM
From: DuckTapeSunroof	Respond to of 103300

MARKET SNAPSHOT: Stocks echo past responses to government moves Means of pricing troubled assets unclear, weighing further on financial sector By Kate Gibson, MarketWatch Last update: 4:27 p.m. EST Feb. 10, 2009 Comments: 847 NEW YORK (MarketWatch) -- The equities market is reacting to the Obama administration's latest attempt to stabilize the economy largely as it did the last eight times the government unveiled steps to curb the crisis, beginning in October 2007. "We do have a discernable pattern of optimism in anticipation of major events, and then disappointment on reality," said Art Hogan, chief market strategist, Jefferies & Co. In terms of the S&P 500's performance, each government action to deal with the financial system's breakdown and the economy's decline "was followed by further deterioration, with the exception of the late November announcement after which the market traded sideways," said Dan Greenhaus, an analyst with the equity strategy group at Miller Tabak & Co. But Greenhaus attributes the sideways action to "selling exhaustion after three terrible months" more than a specific reaction to the Federal Reserve's unveiling of the Term Asset-Backed Securities Loan Facility, or TALF, program, on Nov. 28, 2008. "The discovery of the extent of the losses and damage was an ongoing process, so while each government announcement served to support investor confidence in the short term, what turned out to be the case in the longer term was the sheer size of the structural damage that has occurred," said Greenhaus.... marketwatch.com