Dow just went under 11,000

It has dropped steadily and over 4% since Obama, last week, said he would not bend on the tax cuts for the top 2% who employ more than 25% of Americans. Guess he doesn't understand business and the working American people.

The Viking wrote: It has dropped steadily and over 4% since Obama, last week, said he would not bend on the tax cuts for the top 2% who employ more than 25% of Americans. Guess he doesn't understand business and the working American people.

Or...it dropped steadily since the investors discovered that the new congress is likely to hold up any measure that would improve the economy of this nation.

pick one

And it's up about 4,000 since Obama took office.

"The Dow Jones industrial average fell below 11,000 for the first time in nearly a month Tuesday as worries mounted about inflation in Asia and as European leaders met to discuss a bailout of Ireland."

http://finance.yahoo.com/news/Stocks-re ... et=&ccode=

archer wrote:

The Viking wrote: It has dropped steadily and over 4% since Obama, last week, said he would not bend on the tax cuts for the top 2% who employ more than 25% of Americans. Guess he doesn't understand business and the working American people.

Or...it dropped steadily since the investors discovered that the new congress is likely to hold up any measure that would improve the economy of this nation.

pick one

No it was rising steadily as they saw that it was more and more likely that the R's would take over the House. Then the White House said it will fight all the changes the R's want and that is best for this country and the market has since tanked over 400 points.

Scruffy wrote: And it's up about 4,000 since Obama took office.

Still down over 3000 points since the Dems took total control of Congress when it reached a high of over 14,500. And it has gone up over 1500 since it started to look like the R's would take over the House in the summer.

Without tax breaks, many investors will be taking their profits and pay 2010 capital gains tax rates instead of the higher 2011 rates. If you think cash is just sitting around doing nothing, wait until all of the profits are squeezed out the market.

My prediction: Market will drop 2000 - 3000 points by year end or Jan 2011.

residenttroll wrote: Without tax breaks, many investors will be taking their profits and pay 2010 capital gains tax rates instead of the higher 2011 rates. If you think cash is just sitting around doing nothing, wait until all of the profits are squeezed out the market.

My prediction: Market will drop 2000 - 3000 points by year end or Jan 2011.

I agree if Obama keeps fight to raise taxes on investors.

I know a very wealthy stock market investor. He's been selling his stocks for past 3 months at record highs and taking his cash and buying up foreclosures coupled with precious metals. Cites the 2011 tax rates for the change in investment strategy.

Of course you all realize that the stock market rises and falls on none of these factors....yeah, you knew that.....but it is fun to hypothesize.