market plunge -500 pts, expected, no real Fed rescue, the President
After the DJIA plunge of -500 pts/-4.5% I was just waiting for it to happen. Even my co-workers are asking me why this is happening. When I give them factual solid answers they won’t believe me. I don’t understand when someone asks your opinion, then they just argue with you and tell you are wrong! good grief.
The Fed doesn’t really rescue AIG, I suppose another handout, no lowered interest rate cut, although I feel they are working the same system as President Bill Clinton did in the 90’s when he was continually pressured with the Fed to lower interest rates, but instead they held them and then the market finally agreed and went up from there. I’m sure a lot of the turbulence in the markets is also do to the new President being elected the markets likely feel “uncertain” in what the President will do. Once the President is elected the markets will make up there minds and likely start to go up just because a decision has been made. From studying events in the market, this at least right now, makes sense so close to the election with all the other negative news.
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This entry was posted on September 17, 2008 by Paul Awol. It was filed under trading stock options and was tagged with djia punges, market events, new president being election, the fed, trading stock options, uncertain wall street.