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Saturday, February 28, 2009 

Friday 27TH February, Stock ride

I was watching the stock market closely yesterday as to see whether my prediction would be right or not. Before the opening bell it looked like I would be way off on the conservative estimate of a drop in the market. Prebell numbers had the market as low as 133 points down. I was shocked a bit. Thinking that oh my it is going to drop 300 plus. Thank goodness though I was wrong on that as the market began to stabilise right at opening.

The bell rang and we were only 30 to 40 points immediately down. This made my prediction way wrong but was a good indicator that things may be settling down somewhat and investors would get into the game.

All day the market seemed to be flat a little rise in the numbers but no real gains or loses. Again a good sign for the market. Then what happened. Well I have talked about this recently. Now even Neil Cavuto has questioned the relationship of President Obama speaking and the market dropping.

Well The market took a dive. It did drop 150 points. (SO I WAS RIGHT TO A POINT). Then it did a little rebound as the President stopped talking about how he will save us all. The market settled down 199.15 points.

Now as to why, this is speculative only. I say it is because the players who are in the market are showing their lack of trust in Obama's plan. Something that anyone who has studied econ 101 would also draw the same conclusion to. It is bad policy to say the least, and to be kind it just is bad.

SO what will the market do next week? I am not sure. I am not an expert. I will have to wait like everyone else to see what the White House has in store for us.

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About me

  • I'm Devious Mind
  • From Denver, Colorado, United States
  • Good judgemnt comes from experiance. Experiance comes from bad judgement. Karma, its a bitch.
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