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Comment on: Political Bankruptcy

DOW didn't like the election results - Updated

2 Comments
Thursday, November, 06, 2008 2:29 PM wes writes:

Yeah it's the Election results....

I suppose the Dow dropped from 14000 since last december because "it" was the only thing that knew Obama was going to win?
If the dow knows so much why didn't it get short S&Ps when they were on their highs?
Please. If you're going to attribute human qualities to groups of stock at least do it intelligently. The DOW is NOT down because of the election.


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Thursday, November, 06, 2008 2:53 PM indyblogger writes:

Absolutely a reaction to the election

Of course the DOW reacts to the expectations of the future. I agree, it doesn't explain all the drop from 14,000. I didn't use that number, you did. But this is the largest post-election drop in the DOW after an election ever. That said, I did make money shorting the DOW and so did other people. The market doesn't get it wrong for long, it might over react in the short term, but in the long run, it gets it right.
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