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Damn Obama! DJIA up 214 points.

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Betsy Ross Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 03:55 PM
Original message
Damn Obama! DJIA up 214 points.
And he is hurting the economy how? Although I know it can fall again, I'm willing to feel good about the rise in the Dow over the last 8 days. Maybe investors have abandoned the FEAR.
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no limit Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 03:56 PM
Response to Original message
1. The last 4 weeks or so have been great. But the DOW is hardly a meter for our overall economy
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 03:58 PM
Response to Reply #1
4. No.. but my 401K and 529 plans are thankful....
....
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MercutioATC Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:12 PM
Response to Reply #4
12. My best advice would be to keep a close eye on them.
Those who ignored the signs in late 2007/2008 have been granted a second chance...expecting a third chance is probably a bit optimistic.
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jsamuel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 03:57 PM
Response to Original message
2. Don't give Obama credit. Give the credit to what he did.
Edited on Mon May-04-09 03:57 PM by jsamuel
Stimulus Package's $8,000 tax credit causing housing sales to near bottom
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=5592810&mesg_id=5592810
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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 03:58 PM
Response to Original message
3. Hardly, trading hasn't been all that strong.
Don't get me wrong, up is better than down. It's just that it is sort of not so strong.
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NeedleCast Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 03:58 PM
Response to Original message
5. The Market Reacts
Often to things it shouldn't react to, and it often does so in numbers that are hard to explain.

I don't really like these cheerleading posts on one day of market performance because it just gives "them" an equal oppritunity to point to any significant drop and blame it on Obama.
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:00 PM
Response to Reply #5
6. I agree
When jobs surge, then Ill be paying attention
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jsamuel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:03 PM
Response to Reply #6
7. that is likely to be the last economic indicator to turn around besides wages
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:05 PM
Response to Reply #7
8. Yeah, and a good point to start cheering
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NeedleCast Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:08 PM
Response to Reply #6
10. That's usually the last thing to catch up
When recovering from a recession.

The market moves on arbitrary and sometimes conflicting news. The old saying still pretty much hold true: "Buy on rumor, sell on news." The market loves speculation but usually doesn't like hard news and numbers, even when they're good.
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:08 PM
Response to Original message
9. DJIA at highest point since Jan 13th... when you-know-who was President

As usual... markets go up under Democrats... crash under Republicans.
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Happyhippychick Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:10 PM
Response to Original message
11. Sorry but he hasn't cured swine flu yet so he SUCKS!!!!111!
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Betsy Ross Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:12 PM
Response to Original message
13. I have spent many days distraught as I watched
the market go down along with my retirement funds. It's just nice to feel better if only for a day. It's good that the market can still go up.
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Myrina Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:14 PM
Response to Original message
14. Isn't 8500 about where it's 'supposed to be' ...
... adjusted for the BS hedge trading and false-inflationary crap of the last 10 years?

I thought I heard some economist saying that earlier this year, that all other things being equal, the Dow never had any business being up over 10000 in the first place - that it was all 'bubble value' and not real, sustainable growth ...


:shrug:
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Faygo Kid Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:14 PM
Response to Original message
15. Red Wings lost in 3OTs yesterday. Obama, where were you!?!
Dammit, concentrate man, concentrate!
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:23 PM
Response to Reply #15
16. He was in goal for the other team.
Nobody likes the Red Wings.


;-)
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Faygo Kid Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 05:34 PM
Response to Reply #16
21. Oh yeah? And screw the Steelers, too.
Except for Jerome Bettis, of course.

The NHL is lucky to have Hockeytown in its fold. And we kicked your arse last year, as I recall.

Hope we get the chance again.
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11 Bravo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:30 PM
Response to Reply #15
17. He's a Caps fan! Any scenario which doesnt involve the Wings is a good one for us.
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Faygo Kid Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 05:26 PM
Response to Reply #17
20. I work across the street from the Verizon Center. Directly across from the entrance.
Wings rule, Caps drool.
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11 Bravo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-05-09 05:29 PM
Response to Reply #20
23. We don't exactly drool anymore. Other than that, I got nuthin'.
I would, however, love another crack at a legendary franchise in the Stanley Cup finals. Go CAPS!
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PufPuf23 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:36 PM
Response to Original message
18. High volatilty (% day to day change in the Dow and Index funds)
is a plus for hedge funds as they profit on volatilty not market value.

High volatilty is capital drawn out of the market.
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Mike 03 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 04:40 PM
Response to Original message
19. Just be careful. When the dow crashed under Obama, the press had a field day blaming him, although
he had nothing to do with it. Now that it's rising, we don't necesarily want to give him credit, because there are dire, hard times ahead for this market.

I think the truth is that the behavior of the market has a lot more to do with the success and failure of corporations than anything in Obama's hands.

It's been that way for over a year now.
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mnhtnbb Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-04-09 06:32 PM
Response to Original message
22. Gee. My IRA is now only 17% off its high.
:applause:

I wouldn't be surprised to see the market advance to above 9000 in the next 4-6 weeks, but I'm not optimistic it can sustain that kind of rally until sometime in 2010.
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