Monday, October 6, 2008

Stocks Plummet On News of Obama Lead in Polls

Stocks today dropped below the 10,000 point for the first time since 2004 as recent polls show Barrak Obama leading in several battle ground states. Now, I don't know if that is true or not, but why not. Every day I have to hear newsies speculate as to why stocks rise and fall. Here are a few of the reasons:

Rose and fell because Oil inventories dropped

Rose and fell because of the falling value of the dollar

Rose and fell because of an unexpected increase in jobless claims

Rose and fell because of an unexpected decrease in jobless claims


The list goes on and on. Stocks fell because the bailout plan didn't pass, but they then rebounded the next day for the same reason. I might make this a recurring theme on my blog, why stocks do what they do because of some headline. If stocks close out higher today, I think I will say it is due to the OJ Simpson verdict.
Since posting this, apparently I am more right than wrong on this one. Listening to Sean Hannity, his opening monologue consists of speculatin that Wall Street is dipping because they are thinking that Obama will win the Presidency and they are starting to get worried.


Kansas Bob said...

I think it dropped because the Lord is coming soon :)

I think that the overseas financial crises probably have more to do with the drop than any political news.

Kansas Bob said...

And I loved your post photo.. know where I can find that guy? I got a few questions for him.. trade him a burger for a few blog questions - LOL

jrchaard said...

I agree. I think it was funny that my attempt at humor had some validation.