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Stock Market Down 312 points Yesterday Why?

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Post by joec Thu Nov 08, 2012 11:48 am

The Stock Market was Down 312 points yesterday Why?

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Post by viajero Thu Nov 08, 2012 11:51 am

The Dow is up 60% since Obama took office,you should have invested then and then you might be singing a different tune.


Last edited by viajero on Thu Nov 08, 2012 11:55 am; edited 1 time in total

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Post by CanuckBob Thu Nov 08, 2012 11:54 am

The markets fell even more after Obama was elected the first time however it bounced back with a vengence. This week will be a good time to get in as many good stock are on sale right now. If you have been thinking Apple now might be a good entry point.
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Post by CheenaGringo Thu Nov 08, 2012 11:57 am

I think that it is somewhat typical for the market to tank the day after an election. There is also some apprehension on Wall Street about their relationship with the administration. It appears that your Apple stock is continuing it's slide:
http://www.sfgate.com/technology/businessinsider/article/Why-Apple-s-Stock-Is-Getting-Demolished-Lately-4019856.php

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Post by joec Thu Nov 08, 2012 12:00 pm

CheenaGringo wrote:I think that it is somewhat typical for the market to tank the day after an election. There is also some apprehension on Wall Street about their relationship with the administration. It appears that your Apple stock is continuing it's slide:
http://www.sfgate.com/technology/businessinsider/article/Why-Apple-s-Stock-Is-Getting-Demolished-Lately-4019856.php

CG - With all its new products it will rise again soon, probably right after the Christmas sales. APPL is down 12.50 today.

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Post by CanuckBob Thu Nov 08, 2012 12:01 pm

Apple will probably slide one more time when they report their 3rd qtr earnings however don't be fooled as they will be back in a big way. They have something like 300 billion in surplus cash......
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Post by joec Thu Nov 08, 2012 12:06 pm

quote from article CG posted - "One theory being advanced by analysts is that investors are selling shares because they think capital gains taxes are going increase during President Obama's second term."

That's the Democrats who voted him back in.



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Post by joec Thu Nov 08, 2012 12:08 pm

CanuckBob wrote:Apple will probably slide one more time when they report their 3rd qtr earnings however don't be fooled as they will be back in a big way. They have something like 300 billion in surplus cash......

Apple was supposed to hit 800 awhile back, but the highest was 705. Another article I read after that was that it was to hit 1,100. I'm looking forward to either scenario.

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Post by CheenaGringo Thu Nov 08, 2012 12:08 pm

Like most every stock, Apple certainly isn't immune from fluctuations. However the one month chart which follows is somewhat disturbing:
[img]Stock Market Down 312 points Yesterday Why? Apple10[/img]

Guessing the bottom before buying will be the trick!

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Post by joec Thu Nov 08, 2012 12:10 pm

CG - No one can guess the bottom. If your broker says he can, tell him he's full of it.

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Post by merry Thu Nov 08, 2012 12:15 pm

joec wrote:CG - No one can guess the bottom. If your broker says he can, tell him he's full of it.

Joe, you are right! Anyone who claims they can has a gambling problem.

Merry



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Post by E-raq Thu Nov 08, 2012 12:15 pm

Well, as former day traders, We're out and staying that way for the foreseeable future.

IMHO, the GOP are more accepting of business than the Dems. I have no further comment on this BTW.

As for 60% up since the last election, IMO pure illusion. Check out the charts prior to October 2008 and tell me what you see. Total returns over the last 5 years, absolutely zero. Toss in inflation and you lost a lot of money.

HINT: Dow 14,164.53 October 9 2007.

Another hint, we bailed months before the CRASH, permanently.

Third hint: crashes occur with remarkable frequency. Whether major like 1929, or minor like 2008.

Mugs game, better to go to Vegas.
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Post by CheenaGringo Thu Nov 08, 2012 12:17 pm

Most every broker will tell you that they successfully predicted the bottom price of a given stock and then nailed the high price. Their accuracy is often about as good as accurate as a meteorologist! Like anything else, make your own decisions and then you have no one to blame but yourself.

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Post by merry Thu Nov 08, 2012 12:18 pm

joec wrote:The Stock Market was Down 312 points yesterday Why?

Joe, to answer your question: pre-election many members of the market had factored in expectations that Romney would win, leading to more favorable policies for business. Those who had bet wrong tried to correct it quickly, then speculators and automatic trading jumped in on top of that.

I didn't read this anywhere, I just pulled it out of my butt from previous experience.

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Post by E-raq Thu Nov 08, 2012 12:27 pm

CheenaGringo wrote:Most every broker will tell you that they successfully predicted the bottom price of a given stock and then nailed the high price. Their accuracy is often about as good as accurate as a meteorologist! Like anything else, make your own decisions and then you have no one to blame but yourself.


Years back a skilled trader could make gobs of money on the short side. Since the repeal of Glass Steagall, forget the charts. No longer worth looking at IMO.

BTW brokers hate me.
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Post by viajero Thu Nov 08, 2012 1:05 pm

Dems are more likely to regulate Wall St,Wall St doesn't like to be regulated,they think they know what's best,look how well that worked out under the deregulation the repubs supported.

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Post by E-raq Thu Nov 08, 2012 1:10 pm

viajero wrote:Dems are more likely to regulate Wall St,Wall St doesn't like to be regulated,they think they know what's best,look how well that worked out under the deregulation the repubs supported.


Sorry to disillusion you Chris. Glass Steagall was repealed under Clinton.


http://en.wikipedia.org/wiki/Glass–Steagall_Act
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Post by viajero Thu Nov 08, 2012 1:18 pm

So are you saying repubs are more likely to regulate Wall St than dems ?

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Post by E-raq Thu Nov 08, 2012 1:36 pm

viajero wrote:So are you saying repubs are more likely to regulate Wall St than dems ?


Nope, check out the SEC. Most of 'em quit a few years back. They're the alleged watchdogs.
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Post by jrm30655 Thu Nov 08, 2012 3:59 pm

joec wrote:The Stock Market was Down 312 points yesterday Why?

More sellers than buyers.........

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Post by sparks Thu Nov 08, 2012 5:58 pm

I cleaned out my stock account (IRA) to build my house. Best investment ever. After the rags to riches and back to rags of the early 2000's I don't have a stomach for it. I only watch the general market in hopes the current exchange rate improves and blah-blah news.

13.16 today for US$
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Post by E-raq Thu Nov 08, 2012 6:01 pm

sparks wrote:I cleaned out my stock account (IRA) to build my house. Best investment ever. After the rags to riches and back to rags of the early 2000's I don't have a stomach for it. I only watch the general market in hopes the current exchange rate improves and blah-blah news.

13.16 today for US$


Cetes rate should be up slightly tomorrow.
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