The Saddam rally.....Dow falls 20 points

[jenk]

reality sets in I guess, despite all the cheerleading

anybody who thinks DOW 10,000 is solid as a rock is crazy, I guarantee we'll be under 9,000 by october 04.

I also love how Drudge had "Dow Jump" on his page, then forgot to update it for a while as it showed the dow trickling into the red, then he quickly pulled it. so much for the cheerleading matt!

[BlueEyedSon]

1. NASDAQ got really crushed (-1.6%)

[HFishbine]

2. Faux News Talking Heads

I feel sorry (not really) from the folks who think they get any kind of unbiased financial information from Faux News. Neal Cavuto and the Faux Friends where having a little circle jerk this morning about how well the market was going to do today. They'll be back tomorrow spouting some more crap and, as always, will never have to account for the previous day's innacuracies.

[Tempest]

10. Faux News bimbo said Dow would climb 1,000 points today

After Saddam was captured she made this statement.

[samsingh]

3. interesting that the money isn't buying

the propoganda.

[displacedtexan]

4. what's really sad...

is that the dow's jump to 10K seems to be the result of wealthy tax break types' end-of-the-year dividends and their ability to take advantage of foreclosure deals, etc.
add that to the military investments, and you've got the kind of temporay improvement we had during vietnam. that recovery sure didn't last, did it? and interest rates rose to 16% before it was over.

[HereSince1628]

5. Thanks jenk

And yet more evidence that the idiots that write the stock market news have not one F---ing idea what the real correlations are between DJI behavior and news events.

Can I tell you about where you should invest---SNAKE OIL it has worked miracles for thousands. Ask Mr. Strong. Who cares if Wisconsin's EdVest is fucked because SNAKE OIL lubricates the investment arena?

Let's face it, anything that will serve to transfer wealth from the stupid to the rich is only an act of nature. The survival of the fittest.

[Maeve]

12. there is another explanation

Feel free to get yer :tinfoilhat: on, but....

The folks who know were talking it up...so they could sell. Only the lemmings bought.

[joefree1]

6. Yeah, kinda weird

The polls aren't getting any better for Bush and the stock ain't any better either. Holiday shopping better be hot or Bush's ham will get cooked a little early for this Holiday season.


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[West Coast Democrat]

15. I think it was Cokie Roberts on NPR News things morning

who was talking some hogwash about holiday sales going through the roof on the "Saddam Capture" news. Is she on crack?

[Cocoa]

7. set Saddam free!

his captivity is bad for the economy!

[CMT]

8. I think the downward retail revisions from Walmart

probably had more effect on the market than Saddam.

[maggrwaggr]

9. on MSNBC screen right now, same time: MARKET RALLY, Nasdaq down

Idiot whore news media.

This at 1:25 PM Pacific time

[meti57b]

11. Saddam's capture reminded people of what Iraq has cost us.

[JNelson6563]

13. Like Maeve said

it was wolves manipulating the lemmings. Nothing has changed. A few fools bought early on and were sorry later. Also, money left Treasuries and Gold was up.

Julie

[Old and In the Way]

14. Consumer Confidence

Seems to be the best barometer for a consummer oriented economy.

I see nothing that make's me feel bullish on consumer confidence.

[tritsofme]

16. Everyone was expecting a big jump,

so the big guys on the street sold out on the rally. The Dow gained over a 100 points in the first few minutes of trading.

If youre going to do some profit taking, a good time to do it would be when all the small time investors are expecting a big rally.

Dow 9,000 by next year is incredibly ridiculous barring some major disaster. I think it will be somewhere around 11,000.

[PurityOfEssence]

17. But...the L.A. Times said the capture was a gut punch to the insurgency

and...and...they said it on page one, with supreme confidence...

I...I...just don't know where to turn...

[kodi]

18. there is nothing quite like voting with your dollars

.

[bmbmd]

19. "Reality sets in"

is an accurate assessment of the situation. Really, absolutely nothing has changed in the past forty-eight hours. There is an old, sick, dirty, dissheveled Saddam who has traded his spider hole for a slightly more elegant hole. Iraq is still occupied. Halliburton is still gouging the public. The bloom is off the rose, and smart investors realize that.