Looks like the stock market is repeating what it said in October.

[MeekandMild]

Remember the stock market crash starting  this time last year and continuing through the fall? Well one thing the news media seems to have neglected to mention was that the stock market tanking and the rising poll numbers for the Democratic presidential candidate appear to have been linked. Some mention was made, but always with the spin that somehow the Republicans were to blame.

Well today (1/20/09) it looks like the trend continues and the stock market is voting 'no confidence' in America's new leadership team. In a big way. At least I can raise a garden though unfortunately I don't know too many Democrats who possess that capability.

http://www.bloomberg.com/apps/news?pid=20601084&sid=aOYw.awwsNSg&refer=stocks

[RevDisk]

One day does not a trend make. 

I recommend waiting a week or two before one can call it one way or the other.

[wquay]

Yep, this is Obama's fault. Just like Bush caused the crash in the NASDAQ in 2000  :rolleyes:

[Headless Thompson Gunner]

There are other factors at play, certainly, but you can't ignore the affects Obama is going to have on the economy.  The market certainly isn't going to ignore those affects.

[PTK]

Funny, almost all the Denver local news is reporting that there was a huge recovery in the stock market and economy in general since Tuesday AM..... strange how that doesn't match up with reality.

[AZRedhawk44]

Wow, my Goldman-Sachs stocks dropped about $22 a share since last I looked.

I bought at like $72, they've fluctuated from mid sixties to mid eighties, and I looked last week and they were at $81 I think.  Maybe it was 2 weeks ago.  Today, $59.

[txgho1911]

AZ Look again. Major bounce today. Spent one day "in" after the fumble tumble yesterday.
Tuesday this ended red.
http://finance.yahoo.com/q/cq?d=v1&s=jpm%20wfc%20BAC%20usb%20C%20bk%20GS%20TRV%20v%20stt%20axp%20afl%20cb%20pnc%20ms%20met%20schw%20uyg

[longeyes]

Look today.

There is no way that an administration that favors the wrong side of the bell curve is going to produce a bull market.

[K Frame]

Folks, this isn't a stock market that can be driven by one man, or one administration.

We are in a classic recession-style market.

Huge run ups one day on whatever optimisim might be out there followed just as quickly by huge drops as more bad economic news surfaces.

It's going to be some months before we see an end to this extreme volatility.

[MeekandMild]

Mike, that's all true, things are going to go up and down. But my initial comment was in regards to the huge downward plunge which occurred immediately after BHO inauguration ceremony and its speechifying. The freefall I saw Tuesday afternoon looked like it was driven by sentiment more than news. Concerning the correlation between the market meltdown and the rise of Democratic poll numbers in 08 that is history and it can't be changed.

One other observation. Gold will go up and down depending on the fundamentals of its price and the sentiment. You have seen it running up for several years based on fundamentals but now it appears to be kept up by sentiment. Investors don't buy gold if times are good and they have hope for the future but they're buying it now.

[K Frame]

"But my initial comment was in regards to the huge downward plunge which occurred immediately after BHO inauguration ceremony and its speechifying."

Tuesday was one bad news for the economy event after another. I sincerely doubt that anyone was actually listening to Obama's speech on the trading floor.

And, there actually wasn't a "huge downward plunge" immediately after Obama started his speech. The entire day was a downward curve.

From 12:10 to 12:30 the Dow lost roughly 70 points.

Over the next half hour it recovered about 50 points.

For about the next 45 minutes it bounced around in a roughly 50 point range.

Only then did it start tailing off through the rest of the trading day.

From about noon to the end of the trading day the Dow lost about 193 points. A significant loss, but not nearly the kind of losses that we have seen in days that didn't have a political event going on.

The past week's worth of trading has seen roughly a similar pattern of volatility.