The markets are responding

[BanginJimmy]

Only 16 minutes into the first day and the markets are dropping like a rock down down 194.

[Spektrewing386]

he isnt president until Jan 20, 2009.

its just because all the southerners are freaking out

[mocha latte cupcake]

i am freaking out man! in fact as a true southerner! i'm going to go buy more john deere products to stimulate my farm economy, which will create CORN! which will help the growth of E85 fuels and further help our economy... :cry: god bless amurka! :lmfao:

that sucks about the market nothing will be stable til baraq actually gets in office and "shows us the light to the fix"

[tony]

he isnt president until Jan 20, 2009.

its just because all the southerners are freaking out

lol I'm glad someone stated it.. this is really dumb. The man isn't even sworn in yet and a slight drop in the market is his fault? What about the entire month of October, was that him too?

[DrivenMind]

lol, the rednecks are panicing.

hey Jimmy maybe you can get a jump start on buying some GM stock now.

[v-empire]

we are doomed.

we should have won the civil war.

should have been the Confederate States of America!!! CSA! CSA! CSA!

[Danny]

settle down ladies. give the green text a read.

http://www.dannykay.net/photography/misc/us ISM drop.jpg

[blurred visions]

Obama hasn't even had time to take a shit. Last time I checked a republican was still in office.

[Alan®]

i highly doubt its because of Obama but if it is its not because of the rednecks. The spread was only 8% in the popular vote.

[Danny]

Is everyone blind? I just posted why the market moved. Horrible data just came out of the US this morning (other than obama getting elected lol).

[BanginJimmy]

If you think that Obamas election doesnt have anything to do with the sell off you have no clue how the market works. The markets will respond now to Obama's election, then settle out before he is sworn in.

[blurred visions]

Yea but I figured your original intent was to look negatively upon Obama because the markets have dropped.

[Deke]

Yea but I figured your original intent was to look negatively upon Obama because the markets have dropped.

Oh no, he definitely was implying that.

[Danny]

If you think that Obamas election doesnt have anything to do with the sell off you have no clue how the market works. The markets will respond now to Obama's election, then settle out before he is sworn in.

of course. but the major move this morning in the dollar was becuase of ISM results, not Obama. Obama and McCain moved the dollar around a good bit last night. But now we are still stuck in this rut of "WTF is going on".

Agreed, people who think just because obama is not president yet means he cant influence the market are ignorant and should really go back to school... errr wait.. they do not teach that in school.

In my opinion the dollar hasnt decided where to go yet, and untill then neither will the markets that are influenced by the dollar.

Look on the bright side, at least the markets are trading again. I was getting sick and tired of looking at currency prices NOT MOVE AT ALL.

Oh and the people blaming the "rednecks" hahahaa, what a joke, seriously, it made me laugh because its so stupid.

[Barefoot]

If you think that Obamas election doesnt have anything to do with the sell off you have no clue how the market works. The markets will respond now to Obama's election, then settle out before he is sworn in.lol wow. your in your own lil world right now. all im going to say other than that is show the proof back it up with something real.

[Danny]

my opinion: i allready mentioned it. but around 3 oclock (GMT) today the US ISM stats came out. They were wayyyy below expected levels. Checkthe chart, a picture is worth a thousand words. Note at 3 oclock the huge break to the upside (dollar weakness). Also notice the break to the downside last night (post election), this is dollar stregth. So all last night the dollar was getting weaker untill NewYork open (starts off the day with a bad taste in everyones mouth). Then shortly after NY open, the ISM news out, send the dollar further down (and stock market too).


Just my opinion guys as to what happened (even though nothing has happened yet). We still have not seen a break to the upside or downside with the dollar, untill then... sideways we go.

In short, its both obama and ISM news' fault. I could detail out a little more, but ill shut my trap now :)

http://www.dannykay.net/photography/misc/newnov5.jpg

[Danny]

lol wow. your in your own lil world right now. all im going to say other than that is show the proof back it up with something real.


eassyyyyy there buddy. your going to start embarrassing yourself soon.

lets just leave it at that obama influenced the market (unfortunately he influenced it to the downside for technical reasons in MY opinion) and so did the ISM stats this morning.

[Alan®]

my opinion: i allready mentioned it. but around 3 oclock (GMT) today the US ISM stats came out. They were wayyyy below expected levels. Checkthe chart, a picture is worth a thousand words. Note at 3 oclock the huge break to the upside (dollar weakness). Also notice the break to the downside last night (post election), this is dollar stregth. So all last night the dollar was getting weaker untill NewYork open (starts off the day with a bad taste in everyones mouth). Then shortly after NY open, the ISM news out, send the dollar further down (and stock market too).


Just my opinion guys as to what happened (even though nothing has happened yet). We still have not seen a break to the upside or downside with the dollar, untill then... sideways we go.

In short, its both obama and ISM news' fault. I could detail out a little more, but ill shut my trap now :)

http://www.dannykay.net/photography/misc/newnov5.jpg
I think Obama has something to do with it but i think less so than what people ay think like what you have been saying.

[BanginJimmy]

Oh no, he definitely was implying that.

Obamas policies are against big business, that will cause people to move out of volitile stocks until the market levels off to its new post Bush level. It wasnt meant to say that it was Obamas fault, it was meant to say that the market was reacting to Obamas election.

As far as the report coming out, I didnt know about it but it obviously had a significant effect also.

[Kevykev]

And if Mccain Won?

[BanginJimmy]

And if Mccain Won?

I expected a flat response if McCain won, but I am far from an expert on the market.

I expect a sharp selloff for about a week before we get back to the wild swings, but trailing up, we have seen for the last month or so before the level out at the end of January.

[blurred visions]

This change could possibly be the conservative pricks trying to make Obama look bad. And, saying that Obama is the cause is simply creating a negative image of Obama, which is the only way for Republicans to feel good since they lost.

[Kevykev]

Interesting analysis.

[Danny]

This change could possibly be the conservative pricks trying to make Obama look bad. And, saying that Obama is the cause is simply creating a negative image of Obama, which is the only way for Republicans to feel good since they lost.


first off, there has been no change in the market. 350bp drop in the S&P500 before 3pm coffee break is nothing. Guys we are in a rut and the market is looking to get out of it, it just happens that the way things set up last night in the asia markets put us off to a bad start this morning. that coupled with bad news.

second, "conservative pricks" likely have little influence in the market. Its not like the world conspired last night to drop the NY session.

I actually expected obama to break the markets to the upside (dollar first, then subsequent markets follow). I think this still may happen, but who knows.

[BanginJimmy]

This change could possibly be the conservative pricks trying to make Obama look bad. And, saying that Obama is the cause is simply creating a negative image of Obama, which is the only way for Republicans to feel good since they lost.


If you really think that people are going to purposefully lose money just to make a president elect look bad then you are far dumber than I thought you were. Warren Buffet could sell off his entire portfolio and not make a 10 point change in the market. The massive amount of money that change hands to make a 300 point drop is beyond what most Arabian Princes can put together.

[Alan®]

This change could possibly be the conservative pricks trying to make Obama look bad. And, saying that Obama is the cause is simply creating a negative image of Obama, which is the only way for Republicans to feel good since they lost.
Wow dumbest thing said in this thread. Well maybe not dumbest but close enough.

[Danny]

If you really think that people are going to purposefully lose money just to make a president elect look bad then you are far dumber than I thought you were. Warren Buffet could sell off his entire portfolio and not make a 10 point change in the market. The massive amount of money that change hands to make a 300 point drop is beyond what most Arabian Princes can put together.

shhh Jimmy. Dont burst his bubble. I love this website some times, you really do get every opinion and thought process known to man.

Jimmy do u trade stocks, or another market? Just out of curiosity.

oh jimmy, me and some republican friends are going to sell our portfolios at 3pm today, you in? Together we can tank the markets! woot.

/hyper lunch break rant

[1slowLt1]

Its not the rednecks fault.

We cant afford stock so how the hell is it our fault???

[blurred visions]

I'm not a stock market pro, thats not my area of expertise. What I really was going for is the notion that Republicans are in a rut, over this term they will probably do everything in their power to make the Democrats look bad, but I guess thats a different conversation.

[BanginJimmy]

shhh Jimmy. Dont burst his bubble. I love this website some times, you really do get every opinion and thought process known to man.

Jimmy do u trade stocks, or another market? Just out of curiosity.

oh jimmy, me and some republican friends are going to sell our portfolios at 3pm today, you in? Together we can tank the markets! woot.

/hyper lunch break rant

I trade on a very limited basis. I test to stick with large cap stocks that I know arent going anywhere and let them grow slowly. I have made a couple VERY profitable trades with the wild swings though.

Selling my entire portfolio wouldnt make a .01% drop in the S&P, not to mention the Dow or NASDAQ.


just heard the news for today.. Down down another 443. That leaves us down more than 900 in the last 2 days.

[BanginJimmy]

I'm not a stock market pro, thats not my area of expertise. What I really was going for is the notion that Republicans are in a rut, over this term they will probably do everything in their power to make the Democrats look bad, but I guess thats a different conversation.

Republicans dont have a voice in Congress for at least the next 2 years so they cant do anything there unless it is overriding a veto. I have news for you, if it gets though the house and senate and Obama vetos something, you can count on the fact that it wont get any republicans to back it.

Republicans on the street are not going to purposefully lose money to make him look bad either so you are going to have to elaborate what Republicans will be trying to make dems look bad and how they will do it.

[Danny]

I trade on a very limited basis. I test to stick with large cap stocks that I know arent going anywhere and let them grow slowly. I have made a couple VERY profitable trades with the wild swings though.

Selling my entire portfolio wouldnt make a .01% drop in the S&P, not to mention the Dow or NASDAQ.


just heard the news for today.. Down down another 443. That leaves us down more than 900 in the last 2 days.


i know it wouldnt make a difference, i was being sarcastic. I dont trade stocks any more. I hate the stock market. Only fun i ever had trading stocks was in the sub pennies.

Dow is a little over rated, its an oldddd index. S&P 500 is thought to be the better indicator due to its better and more equal distribution throughout various industries.

[Danny]

ps. someone should really start a thread in wallstreet to bounce investment ideas off each other. there seems to be a couple market savy folks on here. Would be nice to have some local resources.

I am getting kinda sick of the political scene. lets figure out how to make money off it!!!!

[BanginJimmy]

Dow is a little over rated, its an oldddd index. S&P 500 is thought to be the better indicator due to its better and more equal distribution throughout various industries.

I have read that, but I really dont understand the S&P as well as I do the Dow. I dont really look at how an indes is doing except in broad strokes. I prefer to stick with the large caps and grow slowly. I have been dropping more in lately as alot of corporations are artifically low right now and as soon as the rest of the economy levels out, they will rebound drasticly and quickly. Or at least I hope so.

[Danny]

I have read that, but I really dont understand the S&P as well as I do the Dow. I dont really look at how an indes is doing except in broad strokes. I prefer to stick with the large caps and grow slowly. I have been dropping more in lately as alot of corporations are artifically low right now and as soon as the rest of the economy levels out, they will rebound drastically and quickly. Or at least I hope so.

ya the dow is still good, mostly because its looked at world wide. it might not be techincally the best, but its the best because thats what most traders look at. Just like the nekkei is the best because thats what the world looks at, even though i have no clue if its technically the best. :D

oh and i hate the word "artifical"... im pretty sure is a real price quote for those companies. i also hate "speculation". lol just a pet peeve

[BanginJimmy]

oh and i hate the word "artifical"... im pretty sure is a real price quote for those companies. i also hate "speculation". lol just a pet peeve

The price is real, but the reasonings for it are artificial. Citi,for a example, has been solid, even through the whole credit crunch, but their stock is down because of other members of the sector.

[Danny]

The price is real, but the reasonings for it are artificial. Citi,for a example, has been solid, even through the whole credit crunch, but their stock is down because of other members of the sector.


oh i know what your saying. but to me one reason is good as another, keeps me from focusing too much on fundamentals. just my thought process :)

US NFP stats release tomorrow at 0830est. Waking up early to trade the euro/dollar, eekkk ... will be insane.

[BanginJimmy]

I dont touch commodities, options, or currency. I need to do ALOT more research before I jump into that world.

[Danny]

I dont touch commodities, options, or currency. I need to do ALOT more research before I jump into that world.


free demo accounts in forex and futures. so u can practice all you want. think of the upside. instead of spending countless hours looking throuhg bullshit stocks. you can pick 1 or two currency pairs and spend that time studying them. and only trade them the rest of your career. i like it becuase its fast paced, 24 hour a day market, with more liquidity than you can imagine.

[BanginJimmy]

good day on the markets today. Up nearly 1/4 of the loses for the last 2 days.

[tony]

Bad day for me, guess I own the only stocks that decided not to go up today.

[BanginJimmy]

Bad day for me, guess I own the only stocks that decided not to go up today.


I had almost no change in any of mine today, but I have taken an absolute beating the last couple of days.


If you trade activly, what do you think of the FMs with Obama and the dems in charge? They are extremely low right now and I have a feeling that the dem govt is going to dump money into them to get them back on their feet and where they were before the meltdown.

[tony]

If you trade activly, what do you think of the FMs with Obama and the dems in charge? They are extremely low right now and I have a feeling that the dem govt is going to dump money into them to get them back on their feet and where they were before the meltdown.

No clue, I hold a few financials and up to now they've been relatively flat. I'm hoping things turn around but honestly.. I don't know what to expect.

[BanginJimmy]

I hope Danny or some other traders pop in here. I really think there is serious money to be made in those 2, but it always helps to have a little confirmation.

[Danny]

cant really help ya man. I am outa the stock market game these days. i only use it as an indicator. Hell, my longest trades these days are about 5-30 minutes. Much less hold for months on end.

why not research the next company to go under, and short the hell out of it? has the SEC released the ban on shorting the top finicials yet?

Jimmy, did u have any particular stock tickers in mind?

[BanginJimmy]

I have been really considering picking up a few hundred shares of Freddie Mac (fre)now that it is well under a dollar. A while back I bought a few under 2k shares when it was a at .52 and sold off at just over $2.00. I have been thinking of trying that again.