Market drops when 0bama opens his mouth

yahoo ^

[MrFred]

Market Update

3:05 pm : President-elect Obama has started a news conference after meeting with his economic team. He said America needs a rescue plan for the middle class, including a fiscal stimulus plan. He will also review the current administration's financial plan.

The stock market gives up half of its gains as Obama makes his statements.

[steveyp]

YOU ARE KIDDING RIGHT?

HE DID NOT SAY THAT!

What a f*cking putz the guy is if he said that...

[cousair]

Excellent!! The country will wake up one day and realize you can’t go back. BO knows this and it is part of the plan. I knew that rag SHE had on reminded me of something...and you just put a face on it!!

[montag813]

I was trading Dow futures. When Obama appeared they were at 8913, when he finished they were at 8721. After he left, they rallied back up to where they had been, and then up to the 9000 level I had predicted this morning, which corresponds to the 38.2% fibonacci retracement of the recent top and recent lows. The market was in the process of breaking to the upside when Obama appeared, and it looked like a profit warning or something, it was so dramatic. I was long for my 9000 target and had to scramble out when it tanked.

[Pearls Before Swine]

Yea, well what was the jab at Nancy Reagan about? The market reacted because he could not answer the question about raising taxes. He is a louse and can not speak off teleprompter....

I suppose it would have been better if he had commented on Hillary channeling Elanor Roosevelt. He is a louse, and he did dance around the tax issue, but it could have been worse. But, until I see what he proposes, I'm going to hope he'll put his grander plans on hold and listen to his advisers until the economy recovers. I thought he looked more gray and drawn than at any time before the election. Its a killer job, and maybe he'll realize its not the lark he thought it would be.

As for the market, I thought it was hoping for more, and showed mild disappointment. It is a bear market, after all, until proven otherwise. We've had morning and afternoon selloffs for various reasons, and for no reason.

[Pearls Before Swine]

He said he would review the admins current policies. That was read as "well, I might bail out of the bailout, depending. You can't count on anything, you see".

At least he admitted we have only one president at a time. It could have been a much worse ego-centric display than it was. I know, its early.

[Born In America]

He is in way over his head. He knows it, the MSM knows it and the novelty of his campaign is over. It is time to get to work and he is not up for the challenge. Look for his campaign to continue during his term as he will try to bamboozle the people as he did during the campaign.

My expectations are low but, my concern is the direction to the left he and his cohorts want to take this country. I for one want to keep all of my constitutional rights and remove as much government from our lives as possible. If this POS is the least bit successful in creating a socialist utopia, it will take a generation to fix the harm done to this country.

His ascendancy to the presidency make look good from perspective of equality in mass but, it is a terrible sign for the future of the country and the founding fathers sought and planned when they crafted the my brilliant document in the history of man, The US Constitution....