Stock market down 150 points. 12:41 Pacific Time n/t

[msmcghee]

[StClone]

1. Bush Enabling Policies have been finally recognized

As not good...Greenspan renews artificially low interest rates, record debt, dollar bouncing along like whale dung against other currencies and investors pulling out of America have come home to roost.

[judge_smales]

2. Hold on. The sky is not falling.

Probably has more to do w/ Greenspan backtracking on his comments about keeping rates low "for a considerable period of time" than anything else.

[Hawkeye-X]

3. No. It's caused by Kerry's win in NH

Markets knows sound economics when they see one. Kerry's plan ain't it. Check out the markets after Kerry's win in Iowa. Compare it. Love it. It speaks the sad truth.

Hawkeye-X

[Gulf Coast J]

9. I hope you are joking

Kerry was supposed to win in NH, so even if most people trading thought that Kerry's economic plans were unsound (I doubt most people think that), the victory wouldn't have made any difference in the markets. Markets only respond to unexpected events.

[annxburns]

4. It's not just Greenspan ...

.... durable good orders dropped and economists were expecting a gain. Economy is still struggling no matter what * says.

[papau]

5. Fed word change signals end of low rates forever period.

It had to happen.

no rate changes today - just a reminder about reality.

[beyurslf]

6. That is about what? a 1% change?

I don't think the sky is falling just yet.

[Jackpine Radical]

7. I used to try to find logic in the moves of the market.

Then I discovered the Jackpine Principle, which asserts that the only people left in the market in the Bush years are crazy. You'd have to be, in order to keep putting your money at risk under the current conditions. So, if only crazy people are left in the market, then the behavior of the market will be as wacko as the people playing it.

Some days it goes up for no good reason. Some days it goes down for no particular cause. Some days it goes up a lot. Some days it goes down a lot.

That is all you know; that is all you can know.

[sendero]

10. LOL....

... I think that about says it all.

I cannot see why anyone would put money in this market, except those thinking that the late 90's will be back.

They won't. They cannot. The hangover isn't even over yet - market P/Es are still crap in any historical context. The economy sucks and it will continue to suck as long as idiots think tax breaks for the wealthy will stimulate it. Like we have a supply side problem rather than a demand side one.

I'm in cash and silver and I'm staying there, probably for a long time. And yes I'll miss this little runup, but I'll also miss the inevitable bottom drop-out.

[Jackpine Radical]

8. This thread officially killed

compliments of Jackpine Radical