In anticipation of Obama election, stock market has huge rally - Page 3 - Mercedes-Benz Forum

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post #21 of 37 (permalink) Old 11-05-2008, 03:06 PM
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I knew you'd show up here. The excuses start in 5..........4...........3...........2.............O h wait, we already have a first excuse, courtesy of Bear.
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post #22 of 37 (permalink) Old 11-05-2008, 03:08 PM
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Originally Posted by BadBenz94 View Post
But but, Obama,won and he is a God, right?? So whats wrong.....maybe they are anticipating the redistribution of wealth or the passing of the tax cuts in '10??
I see you just woke up from your stupor, was last night a little harsh for you? Drowning one's sorrow with booze is not recommended you know that right?
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post #23 of 37 (permalink) Old 11-05-2008, 03:49 PM
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I don't know where I fit anymore, fiscally conservative doesn't seem to fit anywhere anymore, where is Ross Perot when you NEEEEEEEEED him???!!!!!!
Are you kidding?


...



Seriously?





.



Dude, let me get this straight. You're fiscally conservative, and you don't know where you fit anymore. Today, in 2008.

.



Well, I hate to be the one to break this to you, but it appears we're Democrats now.
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post #24 of 37 (permalink) Old 11-05-2008, 04:16 PM
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Originally Posted by cmitch
-486. Some rally.
Market is short term overreached at the upper ballinger band for last 4 sessions. It may retrace back to 8900 DOW before retest the top of the band Dow 9500 or SP500, 1051. The market was rally from SP500 835 last bottom. Currently we are in basing, still on the upper half of the ballinger band, but you have to be caution, if we are at lower half for 2 days' closing.

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post #25 of 37 (permalink) Old 11-05-2008, 04:29 PM
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Market is short term overreached at the upper ballinger band for last 4 sessions. It may retrace back to 8900 DOW before retest the top of the band Dow 9500 or SP500, 1051. The market was rally from SP500 835 last bottom. Currently we are in basing, still on the upper half of the ballinger band, but you have to be caution, if we are at lower half for 2 days' closing.
Can someone translate?
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post #26 of 37 (permalink) Old 11-05-2008, 05:03 PM
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Not so much a rally in anticipation now I guess. Close at 486.01 down? Wow...

That is a vote of confidence right there.

How about the market could F&@$ing care less about Obama and McCain. It has a few more stresses on it other than which candidate is going to F#@k it in the a$$ the worst.

Who's John Galt.

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post #27 of 37 (permalink) Old 11-05-2008, 05:06 PM
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Can someone translate?
You would just consider it an excuse.

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post #28 of 37 (permalink) Old 11-05-2008, 05:16 PM
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Originally Posted by TNTRower View Post
Not so much a rally in anticipation now I guess. Close at 486.01 down? Wow...

That is a vote of confidence right there.

How about the market could F&@$ing care less about Obama and McCain. It has a few more stresses on it other than which candidate is going to F#@k it in the a$$ the worst.
THAT made sense. Seems that the market peeked at the foundation and still saw big cracks.

Obama's policies WILL be an influence on the market, but today certainly had nothing to do with him.

Let's wait and see how the G8 Economics Conference in mid November goes AND who is there.
It will be hard to create jobs
Unemployment is likely to rise during the first year of Obama's term, no matter what steps he takes.

By Chris Isidore, CNNMoney.com senior writer
Last Updated: November 5, 2008: 2:49 PM ET

NEW YORK (CNNMoney.com) -- Here's the challenge facing President-elect Barack Obama as he weighs how to create more jobs: another half-million jobs likely will be lost between now and Inauguration Day.

That's not even counting the 200,000 jobs that economists believe employers trimmed last month, according to estimates from Briefing.com. The October jobs report will be released this Friday.

The unemployment rate is expected to climb to 6.3% from 6.1% and match the worst reading of the decade. And economists all seem to agree the worst is yet to come.

At some point next year the unemployment rate is forecast to pass 7%, a level not seen since 1993.

And monthly job losses of 200,000 or more are expected to become the norm, not the exception, as the full impact of the credit crisis is felt more keenly on Main Street.

Economists generally believe there's little Obama can do to stop more job losses in the short-term, even if he's able to get a new economic stimulus package passed by the lame-duck Congress and signed into law by President Bush.

"Superman couldn't change what's in store for the U.S. economy. It's going to be ugly," said Rich Yamarone, director of economic research at Argus Research.

Andrew Reina, a practice director for the staffing firm Ajilon Finance Solutions, said caution has become the watchword for companies making hiring decisions because of uncertainty about business conditions.

Even if they aren't cutting jobs, they're likely leaving more positions open this year and could push back hiring plans for 2009 until later in the year. Reina agrees that President-elect Obama won't be able to change that outlook in the near term.

"It's an uphill battle. He's going to have a lot of work on his hands early on," he said.

Big Three eyes help to save jobs

One of the immediate questions facing the Obama administration is what help, if any, to extend to the battered U.S. automakers, who may seek the same kind of financial help that banks and Wall Street firms have received recently. General Motors (GM, Fortune 500) issued a statement Wednesday suggesting it is looking forward to that kind of help from that the new administration.

"GM welcomes President-elect Obama's pledge to support our nation's domestic auto industry in its ongoing efforts to transform its business and develop new technologies," the company said. "This support will enable a competitive U.S. industry to contribute significantly to our nation's economic revival."

The Center for Automotive Research, a Michigan think tank, issued a study Wednesday that showed 2.5 million jobs could be lost in the next year if GM, Ford Motor (F, Fortune 500) and Chrysler were forced by the downturn to shutdown half of their U.S. plants.

"To permit any of the Detroit Three manufacturers to collapse would scar the U.S. economy further at a time when it can ill afford another blow," said David Cole, CAR's chairman. "The likelihood of one or two of the Detroit Three manufacturers ending operations is very real."

But many of those plants could be lost even if government help is made available, especially if auto sales stay weak and credit to car buyers and dealers remain tight.

Along those lines, experts say that worries about the economy, not necessarily policy changes from Obama, will keep employers from adding staff. Even those who expect some kind of stimulus plan getting past Congress say more job losses are already certain.

"I think businesses are going to do what they're going to do, regardless of government policy, at least over the next six months," said Mark Zandi, chief economist of Moody's Economy.com, who forecasts job losses between 150,000 and 200,000 a month over the next six months.

Recovery not likely until 2010

Another economist suggested that the positive effects from a stimulus package would not be felt until spring or early summer 2009 at the earliest and that there would be no significant job gains until 2010.

"Classically, employment is a lagging indicator that will decline well into the recovery period," Brian Bethune chief U.S. financial economist for research firm Global Insight. "Assuming the recession lasts until middle of 2009, it may be another six to eight beyond that before employment stabilizes."

This doesn't mean that Obama is powerless to help create jobs for the longer-term. And economists say things could be worse if the new administration makes the wrong decisions.

Mark Vitner, senior economist with Wachovia, said unemployment could rise as high as 8.5% in the first quarter of 2010 if Congress does approve help for state and local governments and move ahead on public works projects as part of a stimulus package.

Vitner also is worried that employers will pull back on hiring even more if they sense that an Obama administration will make it easier for unions to organize non-union companies.

But he doesn't believe either Obama or the congressional Democrats will actually push an anti-business agenda.

Much of the current job weakness stems from credit tightening, which makes it more difficult for large and small businesses to get the financing they need to expand and hire more workers.

But Vitner said there is relatively little that either Obama or the current Bush administration will be able to do to get banks and Wall Street firms lending again, despite talk about pushing financial institutions to use the $700 billion in federal help to start making loans.

"Banks will continue to tighten until we see an improvement in credit quality. That's 18 months to two years away," Vitner said. "The credit cycle has to play out. You can't legislate lending."



Screw this microfocus on the daily churn of the stock market. It is meaningless to the overall view of the ECONOMY. Let's keep our eye on the ball.

McBear,
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Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #29 of 37 (permalink) Old 11-06-2008, 06:27 AM
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Originally Posted by daisound View Post
Market is short term overreached at the upper ballinger band for last 4 sessions. It may retrace back to 8900 DOW before retest the top of the band Dow 9500 or SP500, 1051. The market was rally from SP500 835 last bottom. Currently we are in basing, still on the upper half of the ballinger band, but you have to be caution, if we are at lower half for 2 days' closing.
You seem to have forgotten the title of this thread based on an unfounded assumption that Obama's election would create a rally. I'm simply pointing out that it did not. The long term effects of his policies are bound to have a negative impact on the stock market, that is, unless, some sense is talked into him by his diverse 'bipartisan' administration that he has promised to put into place.

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post #30 of 37 (permalink) Old 11-06-2008, 08:15 AM Thread Starter
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The founded assumption of this thread is that it is just a joke, a satire on hundreds of threads like this by jayhawk.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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