So DOW is down another ~280 pts down today. Boy those bail outs are doing wonders. Stimulus package is having an immediate and dramatic effect, I'd say.
Since the election just 5 mos ago, DOW is down over ~30%. Another way to look at it: Since the Dems took control of congress in January 2007, DOW is down 47%, S&P down 52%. It hit a peak just before January 2008, and is down 51.21 % since then, and the S&P is down 54.25% since that peak. So about a year after Congress changed hands, the tumble began. You can blame Bush if you want, but Presidents are not kings, and you can't ignore all-important the roll Congress plays in setting the agenda and controlling the purse strings either, and they came in with the express purpose to change economic policies and priorities. Boy, they did exactly that. Now with Obama, it's tantamount to a complete reversal. If you look at the time period 2001 to 2007, the market was up overall 15.82% (S&P +8.16%). Keep in mind after 9/11, the market dropped significantly due to recession and terrorist attacks. >From the low point in 2002 to the day the Congress switched to democrat control in 2007, the market was up 55.74% (S&P +67.68%). As of today we're about 8.5% lower than we were at the low point in 2002. Also, since Sept 18, when a curious series of computerized trades sucked $550 billion from US money markets in the span of an hour and a half before being halted, the DOW is down about 42%. - Bob _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
