Skip to comments.Forget the rally - stocks pummeled
Posted on 03/05/2009 9:40:35 AM PST by pissant
NEW YORK (CNNMoney.com) -- Stocks fell hard Thursday after a litany of grim developments: GM said its survival is in doubt, bank shares took a beating and Citigroup broke the buck.
Adding to the global woes: China defied expectations by failing to boost its economic stimulus program.
The Dow Jones industrial average (INDU) fell 196 points, or 2.9%, over two hours into the session. Earlier, the Dow fell as low as 6654.59, the lowest point since April 22, 1997.
(Excerpt) Read more at money.cnn.com ...
This is no BS. At about 12:26 P.M. EST I looked up and the Dow Jones flashed on my screen. The value? 6,666.60 No Kidding!!!
Sounds like a very bad remake of The Omen. Do not know how much more of this ‘Change’ thingy I can take!
Frankly, anyone who thought yesterday’s “rally” was a new bull market, based on NO fundamental change in the state of the world economy, shouldn’t let themselves get anywhere near the market.
It was probably mostly short covering, but I harbor the hope that more than a few Obambi stooges heard the Messiah’s words and rushed into the market and got their clocks cleaned.
Watch for the GOP to gain 90 seats in 2010 in the House.
If we play smart (which is admittedly doubtful) we can beat Obama handily in 2012.
However...if we’re in Great Depression v. 2.0, will it matter?
Sounds like all this “change” from Obama was the shares of CitiCorp stock
All I assumed was it was a bear market rally. Definitely not the start of a bull market.
Never happen. Republican party is too stupid. Voters are too stupid. 5 or 10 max.
In Miami ( of course not opened to press , Zero will promise UAW the money.
But voters are stupid/fickle both ways.
>> All I assumed was it was a bear market rally.
You probably day trade and make money at it, eh? This sort of activity can be good for you guys, if you know what you’re doing.
Welcome to Obamanomics.
In the 1938 off-year elections, Democrats lost 81 House seats, 51 of them in the industrial belt from Pennsylvania and Upstate New York west to the Upper Midwest. The Democratic governors of Michigan and Ohio were defeated for re-election. The congressional district that included Flint, Mich., site of the first sit-in strike, went from Democratic to Republican; so did most congressional districts in Ohio.
But Obi told us to buy!!!!
That is the conundrum isn't it? In order to get rid of these people we have to destroy the system. Kind of like bombing Al Queda who are in the middle of a bunch of civilians.
I guess I would say the greater good has to be served but I wouldn't enjoy it. Nope, not one bit.
Remember...Obama is not concerned with daily gyrations in the market! I wonder if a 1000 point gyration would wake Bozo up?
DOW 3000 by mid April.
Sorry, but that's too good to pass up. Can I use it for a tagline?
A lot of people forget how the world ultimately got out of the great depression.
My biggest concerns about this whole thing are not economic.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.