Dow Now Off Over 200

The Business Insider ^ | 1-21-2010 | Joe Weisenthal

[Deo volente]

Down 221 at the moment...

[socal_parrot]

Obama declared war on Wall Street today.

Fox News had a Dow ticker up while Obama was speaking about his new banking regulations. The more he talked, the more it dropped.

[Nervous Tick]

>> Is that George Bush?

LOL! Kind of looks like W, doesn’t it?

And in this economic wreck, ol’ W did have one hand on the wheel, much as I hate to say it...

[alecqss]

Obama wants control over the US economy one way or another. Now, as ObamaCare stumbled, he is moving on banks with a red tape on steroids.

[Vaduz]

Obama: It’s good to be the king.

[Wally_Kalbacken]

I think it would properly be “more badder”.

[Pining_4_TX]

Ha, ha. Thanks, I needed that. My husband was laid off in March, got a new job in Oct., and now his new employer has announced layoffs. I’m too old for this crapola. *sigh*

That hope and change is not working out for us.

[sarasota]

That fits with my estimation from the first Big Drop.

[jpsb]

No, but the economic news of the last year did not support any kind of rally at least not a consumer based one. So if figured that some time after Christmas when retailers had another bad year that the market would make a big drop. By big drop I mean a drop of 10-15% many even back to 8,500 territory so I got out.

200 points is nothing to be concerned about unless this means a return to a bear market. Maybe yes maybe no but in the long run I just do not see how a bull market (adjusted for a falling dollar) can survive this horrible economy we got at the moment.

[political1]

This guy comes out and makes a speech about banks, and the stock market collapses

[reagan_fanatic]

Everyone I know is spending absolutely nothing beyond what is necessary.

I see plenty of evidence of that. My company's business has been off by over 50% since mid 2009.

About the only businesses that still seem to be doing well are restaurants. Everyone else I've spoken with says their business is way off as well. Doncha just love this Obama economy?

[John W]

So, will we see one of those classic last hour collapses from -200 to worse?

[ari-freedom]

oh...oh I thought he was going to be focused on jobs now?

[blam]

Wall St Tumbles On Obama Banking Proposal

[John W]

Well, there was some jobs news a little earlier today but he didn’t much care for it so he decided to talk about something else.

[Attention Surplus Disorder]

I’m deeply confused, seriously. I know that 0bama et al cannot renounce their indoctrination overnight. I have to conclude, subject to observation over the next ten days or two weeks, that 0bama will try to give the impression he’s heard the people, will change his programs to conservative populist themes, etc; which is about as possible as the sun coming up in the north. That too, will prove to be a lie, they are letting the Repubs gloat for a brief period and then will double down on the original agenda after some “resting time”.

[sarasota]

Not to mention if we have a serious terror attack. How long will we continue to “dodge the bullet”?

[rbmillerjr]

“The rally that started about 6-8 months ago was a suckers rally, now it’s time to take the suckers money.”

So true.

But that suckers rally has been kicking my short positions in the teeth lol....I got in about 10,150 short.

Now, I hope to make a little money over the next few months back down and then find some bargains for the long term.

[John W]

Its trying.

[Texas resident]

IMO, if the kennedy seat stayed dimrat, ozero would not have made this speech today. Seems to me that he is punishing his subjects.