glorious day.

[RIJIMMY]

not everyone is sharing the optomism...

The dawn of the Obama presidency could not shake Wall Street from its dejection over the banking industry's growing problems. After hearing the new president's inaugural address Tuesday, investors went back to unloading stocks, sending the major indexes down more than 3 percent and the Dow Jones industrials down more than 300 points. Traders on the floor of the New York Stock Exchange paused at times to watch the inauguration ceremony and Obama's remarks, but the transition of power didn't erase investors' intensifying concerns about the struggling economy.

[PaulS]

Originally Posted by RIJIMMY

not everyone is sharing the optomism...

The dawn of the Obama presidency could not shake Wall Street from its dejection over the banking industry's growing problems. After hearing the new president's inaugural address Tuesday, investors went back to unloading stocks, sending the major indexes down more than 3 percent and the Dow Jones industrials down more than 300 points. Traders on the floor of the New York Stock Exchange paused at times to watch the inauguration ceremony and Obama's remarks, but the transition of power didn't erase investors' intensifying concerns about the struggling economy.

Statements like yours just give you less credibility.

Stocks were down based on concern about banks/earnings. In fact, the last part of the sentence seemed to indicate that investors were in fact optomistic but were concerned about the struggling economy Obama is stuck with.

[RIJIMMY]

Originally Posted by PaulS

Statements like yours just give you less credibility.

Stocks were down based on concern about banks/earnings. In fact, the last part of the sentence seemed to indicate that investors were in fact optomistic but were concerned about the struggling economy Obama is stuck with.

uhhhh, ok Paul, does this help my credibility,,,,,I clearly said some were less optomistic, is that not a fact?

It was the Dow's worst Inauguration Day performance in its 113-year history. Stocks fell to their lowest level in two months as fears about the banking system overpowered President Barack Obama's speech about hope

[nightfighter]

Jimmy, I don't know you from Adam, except what I read here. And while I try to respect another's opinions, I have to wonder if you just shoot from the hip on all things in your life...

Yesterday's performance in the Dow Jones Industrials Average was not a gauge of what the incoming administration means. It was a direct result of a major Boston bank, State Street, revealing that they had not marked to market many of their portfolios, and would be reducing net assets by billions.... (criminal in my eyes, but who cares what I think) This revelation by what was previously seen as a safe bank, sent new shock waves through the bailout ridden banking industry. State Street got cut in half. Other banks were sold off. That was the simple big story of the investment day. The markets don't care where they end up in the history of inauguration days, nor do they take time off for the pomp and celebration. To say that yesterday's market performance had anything to do with the change in Washington, or the message Obama is sending, is truly an uneducated, ill-informed statement.