Dow closed down 486

[Jimbo]

I guess Wall Street's response to the election was: keep the change.

[lamontqsanford]

or "Damn 76 more days of Bush"

[burnwood]

I guess Wall Street's response to the election was: keep the change.

I always thought that if the country was happy with the election the market responded as such. I guess those with all the money were not happy.

[Robxcarlson]

You know the markets been down, up, down, up... we're going to see instability for awhile no matter who takes office in Jan.

[Jimbo]

or "Damn 76 more days of Bush"

That was a know variable and already calculated into the market.

[Howard Newell]

I think if Obama follows through with his plan to "encourage" banks to make small, affordable consumer loans widely available, and a cap on interest rates, banks are going to make loans extremely difficult to obtain.
And quite a few of his other ideas for the economy smack of socialism and a vast amount of money and tax breaks. Where is he going to all this money?!

[Baloosh]

Typically Wall Street loves Washington/Federal Government confusion and trouble. Keep in mind there is also a severe economic downturn, and some percentage of today's downswing was simply the pendulum swinging back towards "norm" after numerous days of consistent upswing.

[Jimbo]

Typically Wall Street loves Washington/Federal Government confusion and trouble. Keep in mind there is also a severe economic downturn, and some percentage of today's downswing was simply the pendulum swinging back towards "norm" after numerous days of consistent upswing.

Where are you getting that bilge water? The Market HATES uncertainty. Wall Street prefers gridlock with a President of one Party and Congress ran by another. But Wall Street certainly doesn't like confusion and trouble. You need to get your money back from whomever taught you that. "Numerous days of consistent upswing"? Yesterday was a good day, that was about it.

[ouch]

some percentage of today's downswing was simply the pendulum swinging back towards "norm" after numerous days of consistent upswing.

Yep. If I get any more of those numerous days of constant upswing, I'll have to jump out the window. Last time I checked, I was down several hundred K.

[lamontqsanford]

Yep. If I get any more of those numerous days of constant upswing, I'll have to jump out the window. Last time I checked, I was down several hundred K.

+1, if I had 1 to give after the market took my 401K. Everyone says this is the best time to buy. I agree and have been buying shaving related goods since. At least they will have some re-sale value if I don't like them

[TstebinsB]

I guess Wall Street's response to the election was: keep the change.

The expectation was that Obama was going to win. I think a surprise victory by McCain would've caused even greater volatility. As you stated, the market doesn't like confusion. A McCain victory would've gone completely against the expected result.

[Jimbo]

The expectation was that Obama was going to win. I think a surprise victory by McCain would've caused even greater volatility. As you stated, the market doesn't like confusion. A McCain victory would've gone completely against the expected result.

Meaning the market would have gone up instead of drop 5%.

[Nancy Boy]

I'll so be working past the grave...

[Baloosh]

Where are you getting that bilge water? "Numerous days of consistent upswing"? Yesterday was a good day, that was about it.

http://moneycentral.msn.com/investor...ocookie=1&SZ=0

Looks like a trend towards gains to me. Going back from 10/27. But perhaps I'll look at a refund on my statement about stock market performance and Washington in-fighting.

Yep. If I get any more of those numerous days of constant upswing, I'll have to jump out the window. Last time I checked, I was down several hundred K.

I didn't say today was good, or that it didn't hurt. Just saying it was inevitable, given the recent trends of upswing in the still extremely volatile market.

[TstebinsB]

Meaning the market would have gone up instead of drop 5%.

There was a six-day runup in the market, which many say was brought upon by the stability of an expected Obama win and Democratic surge. In fact, the Dow had it's biggest election day market rally since 1984. Considering the dire straits we're in, the post-election day reality is that there is still a lot of anxiety over a recession and uncertainty over Obama's direction. Once Obama chooses a Treasury Secretary, there will perhaps be some insight into the direction he plans to take. With a lame-duck president in office, it's not like anyone is looking forward to anything for the next 11 weeks.

[Mejnoon]

There was a six-day runup in the market, which many say was brought upon by the stability of an expected Obama win and Democratic surge. In fact, the Dow had it's biggest election day market rally since 1984. Considering the dire straits we're in, the post-election day reality is that there is still a lot of anxiety over a recession and uncertainty over Obama's direction. Once Obama chooses a Treasury Secretary, there will perhaps be some insight into the direction he plans to take. With a lame-duck president in office, it's not like anyone is looking forward to anything for the next 11 weeks.

WARREN!

[ouch]

I think we used to look at a 200 point swing in either direction and say "Wow!" Now we just yawn at 500 point swings.

[prewt]

you mean my 401k is worth even less now? Is that possible?

[kwk285]

you mean my 401k is worth even less now? Is that possible?

Yes. Now it is a 301k.

[Jimbo]

Yes. Now it is a 301k.

OK, that was pretty funny