Dow closes at 9755, new low for 2004

[annerevere]

Dow was down today 111 points.

[Cocoa]

1. is 10,000 still a "psychological threshold?"

haven't heard a lot about that lately...

[swag]

9. The "psychological" thresholds are, in my view, a load of bullshit

as is the entire field of "technical analysis." I think Burton Malkiel has demonstrated this pretty thoroughly in many editions of his book "A Random Walk Down Wall Street," which I highly recommend.

[HFishbine]

2. Watch 9600

If it gets much below that it will keep on going waaay down. We may see a "major correction*" before the election.

* used to be called a crash

BTW, don't be surprised to hear that the market is going down on expectation of a Kerry win. That will be the bable.

[Silent3]

6. I'm no stock market expert...

...but I'd guess that this drop is the kind of thing that's going to get investors jittery and feed on itself for a bit, driving the market even lower until after the uncertainty of election day passes. (At least if we really know on Nov. 3 who the next President is going to be.)

The Bushies can try to pin this on worries about Kerry, but a bit drop in the market on balance is going to hurt Bush.

[HFishbine]

13. I'm no expert either

But there are methods for technically analyzing the direction of investor sentiment and it continues to point down, at least for a few more days.

[Silent3]

3. I'm happy to take a short-term hit...

...in my 401k if it helps get Kerry elected. :D

[high density]

4. Hmm, does this mean they're expecting Kerry to get elected now? (NM)

[swag]

5. Stock market "indicators" say Bush is finished

[radfringe]

7. gas up - ranges from $2.00 gal to 2.15/gal

just ordered heating oil --- talk about sticker shock $1.89
don't know how we are going to make it through the winter, meanwhile just ordered another 2 cords of wood

but with both working, we don't keep the woodburner going unattended during the day, and even if we fire it up when we get home, by the time that starts to heat the house we are in bed and asleep

we run it on weekends and days we are home..... we keep the thermostat down to 65deg, and just barely 60deg when we leave for work

woman at oil company said she will be happy when bush* is gone -- then maybe something will be done about the mess with the economy and wars. Both she and her husband work full-time plus each has part-time jobs that they work around taking care of the kids

[swag]

8. Let's repeat what we know

Many studies, including one by Jeremy J. Siegel of the Wharton School (a Bush booster) have indicated that the stock market does significantly better under Democratic administrations.

Other related studies have shown that since 1900, the stock market does significantly better in an election year if the incumbent party retains the presidency, in fact a lot of Wall Streeters take this stock market "indicator" quite seriously and have been claiming that the market is "predicting" a Bush loss on the basis of this year's market returns.

[cali]

10. We need the dow to fall

around 300 points and oil to hit sixty bucks next week (oil at over 55 today). That would crush bush, and it doesn't matter how hard they try and spin it re fear of Kerry.

[Roland99]

11. We don't *need* that. That is only hurting our economy.

I think we can beat Bush on our own and on the merits of Kerry. Don't misunderestimate Kerry.


However, should the DOW continue to fall and oil prices continue to rise, it will not look good for Bush.

[Czolgosz]

12. What was the (1) ppb for oil and (2) dow on the day * was appointed?