Dow rallies to Obama economic news.

[mindseye]

US stocks rallied today on word that president-elect Barack Obama has picked Tim Geitner, president of the Federal Reserve Bank of New York, to be treasury chief.

(source)

Sixteen days ago, the day after the presidential election, starinvestor tried here to ascribe a drop in the world markets to the election news (and, bizarrely to ACORN) despite the release of bad employment news the same day.

But with the afternoon reveal of the first economically-related member of Obama's cabinet, the Dow surged after having been flat all morning.

Must be those pesky squirrels at ACORN again. I bet dead people and Mickey Mouse bought a bunch of stocks today!

 

[houtx48]

i have a feeling the ride is not over yet...........maybe after the first of the year

 

[B_starinvestor]

Yep. Since November 4th its been sell, sell, sell. We got one hour of gains after the announcement of the Treasury Sec yesterday and the liberals think we're in a bull market.

Imagine this combination:

• A lying, conniving, double-talking preacher/law clerk calling the shots
• The most extreme left, liberal political agenda in U.S. history
• A fanatical, paranoid and crazed leadership in both the House and Senate
• Clinton/Obama family feud everyday and in perpetuity on Pennsylvania Ave
• A catastrophic economic meltdown to which no solutions exist

Count on a lot of bleak days in the market.

 

[D_Tintagel_Demondong]

I'm sure that Obama's leadership ability will also boost consumer spending. He knows what he's doing. Starinvestor offer one ridiculous speculation after another, but the numbers speak for themselves.

Choosing Timothy Geithner was truly perfect. A private sector, non-partisan businessman is an ideal choice. Geithner has been deeply involved in responding to the financial crisis.

It's beginning to look a lot like Christmas.

 

[Northland]

(source)

Sixteen days ago, the day after the presidential election, starinvestor tried here to ascribe a drop in the world markets to the election news (and, bizarrely to ACORN) despite the release of bad employment news the same day.

But with the afternoon reveal of the first economically-related member of Obama's cabinet, the Dow surged after having been flat all morning.

Must be those pesky squirrels at ACORN again. I bet dead people and Mickey Mouse bought a bunch of stocks today!

Vapid and insipid-how do you manage to interweave them so well together?

Newsflash: The market is going up and down like a merry-go-round horse and the ride is far from finished.

 

[deleted213967]

(source)

Sixteen days ago, the day after the presidential election, starinvestor tried here to ascribe a drop in the world markets to the election news (and, bizarrely to ACORN) despite the release of bad employment news the same day.

But with the afternoon reveal of the first economically-related member of Obama's cabinet, the Dow surged after having been flat all morning.

Must be those pesky squirrels at ACORN again. I bet dead people and Mickey Mouse bought a bunch of stocks today!

Could it be because Geithner is not a fundamentalist extreme-left nouveau con?

 

[slurper_la]

I bought two stocks yesterday morning that were at their lowest for the year. I also bolstered my holdings in another that lost ground recently.

That was at 9:44 AM

At close one doubled, another gained 4 points and the third gained 3

GO OBAMA!!!!!

 

[mindseye]

He knows what he's doing. Starinvestor offer one ridiculous speculation after another, but the numbers speak for themselves.

Indeed.

For starinvestor to blame past losses on a guy who hasn't been in office yet -- that's fear-based investing. Fact-based investors responded positively to the first (and so far, only) tangible economic news coming out of the next administration.

Starinvestor asked us to "imagine this combination" of his deluded fantasies. There are far worse combinations that I don't have to imagine, because we've lived through them for the past eight years. In his knee-jerk response, he completely avoided any comment on Geithner's qualifications or appointment.

Starinvestor's strategy may prove to be self-fulfilling: convinced that a Democratic president is The End Of The World As We Know It, he'll make fear-based choices that hurt his portfolio, and then crow later that he was right all along.

 

[mindseye]

Newsflash: The market is going up and down like a merry-go-round horse and the ride is far from finished.

Hardly a newsflash. Markets always fluctuate.

My claim was that the first actual economic announcement from the transition team generated a positive surge in the markets. That claim has been supported by the Associated Press, Reuters, Bloomberg News, the Wall Street Journal, and literally hundreds of other outlets.

Do you think they're vapid and insipid, or is this a personal grudge?

 

[B_starinvestor]

Indeed.

For starinvestor to blame past losses on a guy who hasn't been in office yet -- that's fear-based investing. Fact-based investors responded positively to the first (and so far, only) tangible economic news coming out of the next administration.

You should put this in the fictitious stories section. I've never blamed prior losses on your Messiah. I pointed out that immediately after the election worldwide markets dropped precipitously. And kept dropping.

Starinvestor asked us to "imagine this combination" of his deluded fantasies. There are far worse combinations that I don't have to imagine, because we've lived through them for the past eight years. In his knee-jerk response, he completely avoided any comment on Geithner's qualifications or appointment.

In another thread I applauded the nomination of Geithner. It was a suitable and appropriate choice and it did lift the market. Investors were enthused that we have a nonpartisan (non-liberal) expert in a key position. Smart money knows that Obama doesn't have the first clue about business or our economy. If only he had squeezed in one business class between writing books about himself.

Starinvestor's strategy may prove to be self-fulfilling: convinced that a Democratic president is The End Of The World As We Know It, he'll make fear-based choices that hurt his portfolio, and then crow later that he was right all along.

Not worried as much about the thought of a Dem president as I am about a motivation speaker with no business experience and a liberal spending agenda quarterbacking us through extremely difficult economic times.

 

[Northland]

Hardly a newsflash. Markets always fluctuate.

My claim was that the first actual economic announcement from the transition team generated a positive surge in the markets. That claim has been supported by the Associated Press, Reuters, Bloomberg News, the Wall Street Journal, and literally hundreds of other outlets.

Do you think they're vapid and insipid, or is this a personal grudge?

Yes, yes, whatever works for you. The fact remains that the market has tanked significantly in recent weeks-AFTER Obie was elected. A one day rally (if you can even honestly call it that) or a final hour rally (again, if you can actually call it that), does not indicate a market turn-around.



(and to whom am I supposedly having a grudge? As much as it may bother, surprise, scare, excite, amuse, delight, terrify, cause-you-at-last-to-have-a-boner, itch your ears, or anything else which it may do to you, I am not getting a thrill out of the market going south or the economic state of the nation being in turmoil.

Prior to the election, I indicated to several people that no matter who was elected there was going to be a long arduous road to trek in straightening out the situation which came to be. A sitution caused by several administrations. Whereas you choose (stupidly I might add) to ballyhoo about the market surging during the Clinton years, you need to realize that much of that money was imitation and did not make it to the American people. Poverty still rose during those years even as the wealthiest of the wealthy got more and more. Additionally, there was going to be a time when the market would have to return to reality as the people on the lower rungs of the economic ladder could no longer afford the prices which that inflated market had created. Add to this, that there were more and more people added to those lower rungs daily-something had to give.

In the end I wish Obama well; but, I am realistic and honest about it and know that he doesn't stand much of a chance in succeeding. What he will hopefully be able to do, is stanch the bleeding and lay the groundwork for a better future of the economy. Of course, bringing in a team of re-treads is not the answer. It's beyond hilarity watching him go after all these "well informed individuals and advisors" and pull them into his administration when they are those who are all in some part responsible for the mess we are currently in. How does that make things better?)

 

[houtx48]

some investor on here sound like they get their stock tips from their gynecologists. cause they 're big ol pussies.

 

[HyperHulk]

Smart money knows that Obama doesn't have the first clue about business or our economy. If only he had squeezed in one business class between writing books about himself.

That's an interesting observation. You claim that Obama does not have the first clue about business or the economy and yet you praise his choice of Geithner as the Treasury Secretary (a move that has seemed to be almost universally praised). Which would seem to suggest that Obama knows a thing or two.

You could also look at the fact that Obama somehow, despite not knowing a thing about business or finances, gathered a half billion dollars to run his political campaign. Imagine that, someone as incompetent as Obama pulling such a thing off. Boggles the mind. I can only imagine that if you were tasked with such a thing, you could easily pull together more money than what Obama gathered in the same amount of time. I hope you lend your considerable and superior skills to Obama's next challenger, they're going to need it.

 

[Nrets]

I bought two stocks yesterday morning that were at their lowest for the year. I also bolstered my holdings in another that lost ground recently.

That was at 9:44 AM

At close one doubled, another gained 4 points and the third gained 3

GO OBAMA!!!!!

Go Obama for sure.

But if you want to hold onto your money I would pull out soon.
Stocks are not going to hold these gains for long.

There is nothing that anybody can do at this point to prevent the market from sliding.


Obama is going to pass some huge stimulus package. Conservatives like Starinvestor are going to get really pissed off and blame him when the economy does not get better. But really this is not any politicians fault. It is the entire system. The only function Obama's "socialism" is going to give in the coming hard times is hope, because we are not ready for a real revolution...and as long as we are not ready and the system functions basically in the way that it does, there is not a fucking thing anyone is going to do to prevent what is coming.

Ultimately what I am saying is that any money that is thrown at the economy to try and fix this problem is a complete waste. We should really all be moving back into a more yeoman DIY type economy. Corporations should be allowed to shrink.

I could be wrong...Maybe the market will rise all next week and for the rest of the year...really I'm just trying to give you all something to think about.

 

[B_starinvestor]

That's an interesting observation. You claim that Obama does not have the first clue about business or the economy and yet you praise his choice of Geithner as the Treasury Secretary (a move that has seemed to be almost universally praised). Which would seem to suggest that Obama knows a thing or two.

Naming cabinet positions is business? Can you point out which chapter in business/economics covers cabinet appointments?

You could also look at the fact that Obama somehow, despite not knowing a thing about business or finances, gathered a half billion dollars to run his political campaign. Imagine that, someone as incompetent as Obama pulling such a thing off. Boggles the mind. I can only imagine that if you were tasked with such a thing, you could easily pull together more money than what Obama gathered in the same amount of time. I hope you lend your considerable and superior skills to Obama's next challenger, they're going to need it.

That's called fundraising. He is very good at that.

 

[HyperHulk]

Naming cabinet positions is business? Can you point out which chapter in business/economics covers cabinet appointments?



That's called fundraising. He is very good at that.

You would need to know a thing or two about business and the economy to evaluate which candidates would be the best fit for the job and for tackling the issues. You would think that if he was as incompetent as you've been suggesting he would nominate, well, anyone--maybe Palin? But he didn't. By all accounts, he's seemed to have made a great choice--guess it was just blind luck and it was the name he pulled from a hat of 300 million people? Fundraising isn't a business? You don't have a product, a marketing and advertising program, staff, a budget, goals and the need to raise capital to sell your product in a political campaign? You have to convince people to part with the present money for some type of future pay off, which is essentially investing. The difference being the future pay-off is even riskier and more ambiguous, as opposed to say, investing in Google. So the fact that he used his considerable leaderships skills, combined with a utilization of various resources (internet and staff) to part with their money during a recession is even more impressive. But all of this would seem to be lost on you. To you, nothing about running a political campaign is analogous or equivalent to running a business. Considering all that he's accomplished, which is unprecedented on several levels, it's not Obama's knowledge of business that I question, it's yours for not being able to understand or appreciate what he's done. But keep underestimating him, that apparently seems to work in his favor.

 

[slurper_la]

good business is about assembling a team of competent people to package and promote a tangible product the public wants to buy and by the standards of the past 60 years you do most of this by raising capital from small investors.

mmmmm, isn't this exactly what Obama has done and continues to do? He has what I want and I'm buying it up in spades.

the right just can't stand that they lost this one.

 

[mindseye]

Third straight day of gains in a row.

Plus: Friday's/Monday's Dow Jones gains were the biggest two-day rally in eleven years. The gains on the S&P 500 were also the biggest two-day rally in eleven years. Specifically, the past eight years of cutting taxes for the wealthy never produced this.

Northland: You still want to stand by this assessment?

A one day rally (if you can even honestly call it that) or a final hour rally (again, if you can actually call it that), does not indicate a market turn-around.

 

[Notaguru2]

The bull market won't start until Obama is in office. With Bush gone the street will realize we've hit bottom (finally). Get your money ready... America will make more money in the market over the next 4 years than they could have ever imagined. Obama will sail into his second term... heard it here first.

 

[B_starinvestor]

Third straight day of gains in a row.

Plus: Friday's/Monday's Dow Jones gains were the biggest two-day rally in eleven years. The gains on the S&P 500 were also the biggest two-day rally in eleven years. Specifically, the past eight years of cutting taxes for the wealthy never produced this.

Northland: You still want to stand by this assessment?

You can attribute this to one of two things:

1. A catastrophic selloff after the election of Obama pushed stocks to an 11 year low. Your 'huge rally' hasn't even returned us to the levels of November 4th by a longshot

2. Your liberal compatriots pleading and whining that the messiah isn't even in office yet...so Bush and Co must be responsible for this rally.

You can't have it both ways, ONEeye.