The first two days of the Obama Stock Market (-875)

11/6/2008 | myself

[Aliska]

abc reported it later this afternoon. Even had a subtitle one might (if one didn’t know their bias) aimed to blame Obama. Lots of comments. abcnews.go.com

[Revolting cat!]

There go your 401Ks, stupid voters! You’re gonna miss the “Wall Street greed” soon!

[Aliska]

Surely it's the Obama win, in part, make that large part. People are cashing out. I'm wondering if you take a loss, can they report it as a capital gain loss to offset their income before his tax increases kick in?

He may have to scrap the tax increases, will wait and see.

[sheikdetailfeather]

Fox news just called NC for Obama. I can’t believe it! I guess it is because he brings HOPE AND CHANGE!

[Aliska]

I thought I read Indiana may go red after all. I'm worried about their not hitting the magic number 60 in the Senate. Lots of disappointments in this one for sure. Somebody commented that Barney re-elected by 87%. There was a lot of screaming on their board about voting all incumbents out no matter which party, glad I didn't take it seriously.

I'm wondering why people are cashing out (not necessarily all the way, maybe picking off some quick profits?) now anticipating retroactive tax increases (guess they could do that if they want to) because there's still plenty of time before Dec 31. I'm not well-schooled in the stock market but understand some of it. Even when the overall market is tanking, there are still some stocks that are rising (it's a net effect on the daily indices, right?)

I'm thinking investors must be anticipating it dropping further, otherwise why sell on such a bad day?

[Prov1322]

Just learn how to trade the down side!

Lots of profit being made as the markets tank. I have already forgotten how to trade in an up-trending market...