When the DJIA drops, why do those people on the NYSE balcony still clap?
bobweaver
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Tue Jan-25-05 01:57 AM
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| When the DJIA drops, why do those people on the NYSE balcony still clap? |
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Every evening on the news they show what the Dow Jones and Nasdaq did that day, and even if they ended up lower at the end of the day than they started at, those people standing on the balcony at the NYSE are still applauding - but why? What are they applauding about if it dropped that day?
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| drdtroit
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Tue Jan-25-05 01:59 AM
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| 1. Because they make a ton of money either way? n/t |
| bvar22
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Tue Jan-25-05 02:00 AM
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| 2. Because those are the "privileged" insiders.... |
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...who make money no matter which way the market goes.
It's kinda like owning the Casino...They never lose!
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| norml
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Tue Jan-25-05 02:34 AM
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| 3. They are applauding themselves, not the Market. |
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Edited on Tue Jan-25-05 02:35 AM by norml
It's a special thing to be up there to ring the opening or closing bell. Whomever is up there ringing the bell is being honored, and they are celebrating something. It has nothing to do with how the Market is doing.
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