Posted on 10/26/2006 1:13:14 PM PDT by RogerWilko
NEW YORK (MarketWatch) -- U.S. stocks were on the rise late in Thursday's session, after a fresh batch of earnings reports led by Exxon Mobil Corp., Dow Chemical, Comcast Corp and others lifted the S&P 500 Index to its best level in about six years. ADVERTISEMENT
With less than an hour of trade left, the Dow Jones Industrial Average, meanwhile, was on track to close at a record for the fourth straight session, while the Nasdaq Composite flirted with six-month highs.
(Excerpt) Read more at biz.yahoo.com ...
Is there anyway you can add to that chart the decrease in 2002 that came after the Rats took back control of the senate. That decrease continued until the new Republican congress was sworn in 2003 after the November 2002 elections, and GW's Tax cuts were made into law as you have noted on the chart.
The proposed tax increase of Hilliarily, Kennedy, Kerry, Boxer and others stuck a knife into our post 9/11 recovery until the election of 2002 and GW's tax cuts as you have noted on the chart.
"You're not soiling the party, either. Anyone who got screwed when the NASDAQ collapsed was clearly over-exposed to high-risk stocks that any investor with even a modicum of financial sense would have stayed away from."
I was on our church's finance committee during the Clintoonian years. I took a lot of abuse for refusing to put all of a retro fit fund, the church's savings and an endowment fund mainly into QQQ and then DIA, SPY and MDY at that time. The big pressure came at the first of 2000.
One of the pushers of this madness, lost over 50% on his Keough and IRA's. He wanted to retire in 2002. He is still working as an accountant and an CFO at hire. He thanks me every time we see each other for standing against his terrible advise and preventing the finance committee from buying into QQQQ. He blames the Arthur Andersen imaginary accounting for the bursts, and people like him who forgot the basics of business and invested in the dot.com insanity.
Regarding your chart...Look how someone was able to move the Dow on a downward trend between Jan 04 and the Nov 04 election, temporarily casting gloom upon what is otherwise a straight upward trend.
Uhh, maybe that's because those stocks were ridiculously overpriced back then, with PE ratios totally out of whack. Sanity finally prevailed.
My ex-inlaws went through retirement in the 90's and placed a lot of their money with a money manager that had them in the "Clinton" stock market. They lost over half of their cash, a couple hundred thou, when the Nasdaq...PROPPED UP TO MAKE CLINTON LOOK GOOD...went bust.
They still don't get it and vote Democrat.
The Pubbies get it, that's why they want private accounts in Social Security. How would Democrats in power and higher taxes help with those shortfalls?
Sorry to soil the party, but NASDAQ still has ways to go before it reaches its all time high of over 5000. It isn't even half-way there.
Uhh, maybe that's because those stocks were ridiculously overpriced back then, with PE ratios totally out of whack. Sanity finally prevailed.
The whole Clintoonian Stock bubble and in particuliar the QQQ was a trip into the fantasy world. Many who took the trip lost a lot of money. Amazing they blame us, GW and try to deride the real increases the market has had since 2002.
Thanks for your clear analysis of why those stocks collapsed.
"caveat emptor. Too many McAuliffe sharks trying to turn a $100,000 stock investment into $18,000,000 make NASDAQ a risky place for conservative savers. Las Vegas offers better odds to gamblers."
I can remember some liberals up to 2000 saying they had never lost in the market, and they got out of any stock or fund that didn't gain 30 to 40+% in a year.
Some haven't been seen since 2000, and they may be living under bridges with their hate GW signs.
"Regarding your chart...Look how someone was able to move the Dow on a downward trend between Jan 04 and the Nov 04 election, temporarily casting gloom upon what is otherwise a straight upward trend."
"Regarding your chart...Look how someone was able to move the Dow on a downward trend between Jan 04 and the Nov 04 election, temporarily casting gloom upon what is otherwise a straight upward trend."
Remember when the rat trial lawyers descended on Ohio in attempt to have a rerun of their attempted Goron Coup after the 2000 election?
That caused a decrease and hold in the market's increase.
When that standard rat election ploy lost, the market recovered. As the market recovered in 2005-06, the stocks prices of most of the MSM stocks stared a free fall.
I STRONGLY AGREE with Grampa Dave!!! (and thanks for the ping, Dave)
Now the Media are trying to drive the DOW down with the decline in the rate of growth in the GDP with blaring headlines about how supposedly "bad" this is! What a PANTLOAD!!!
I guess they think it's their "October Surprise," or something... Geeze!!!
they'd prolly just print more money...
wouldn't... unless they bail them out.
Liberals would tank this.
The Clintonian 36% Tax Bracket made people look at the lower Capital Gains Rates and shun anything rational that had a "Dividend" since it got taxed at the higher rate. Ditto for the Venture Capital World they also lost their marbles, by backing virtual-e-dog-foods.com up the ying-yang.
In 2001 when the Clinton downturn really hit, and fund managers started selling they drove short term and long term gains with in the fund.
At tax time not only were people reallying from the loss of their "High Beta" funds, but also they had to pay taxes on these loosing funds, it wasn't pretty.
Fast Forward a few years and GWB and company lower Dividend Rates to Equal Cap Gains Rates. In my opinion this is the most underrated and overlooked driver for this rational and continued expansion of the business cycle, it is absolutely Brilliant and no one sees it expect maybe me and Larry Kudlow, but I can't say I hear him screed about it I like do. Then again, I do not have his "gravitas" :-) .
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