The Height of Stupidity/Incompetence - DOW down 500 points

Luckyone · Jun 3, 2019

Condor060 said:
IF Obama had ANY historical highs it would make sense to show them, but he didn't. The chart isn't cherry picking as it starts the day Trump won the election. Obama's highest was around 19,000 and the charts starts with Obamas market at the time of 18,500 and how Trumps market hit 141 historical highs in just over a year in office which means there woulnd't be anything to compare it to or would even come close.

You are totally wrong.

When Obama took office the DOW had a previous all-time high of 14198 and that level was broken in March 2013. The DOW continued higher to 18351 for the next 3 years and made 14 new "monthly" highs during that period of time. It rallied about 30% above its previous high. It is interesting to note that there was not one single correction of note until May 2015 when the index corrected 16%. That was the only correction seen during the entire 8 years of Obama!

With Trump, there has been 16 new "monthly" highs and the market has rallied about 45% but there have already been 2 corrections of note and we are now in the third one. The first one was about 13%, the second one was about 19% and this one is already around 10% and he has only been in office 2 years and 4 months.

There were no tax cuts and there was plenty of new regulations during Obama, meaning the market rallied without any help from tax relief. Trump needed tax cuts and deregulation to rally the market.

You really need to get your facts straight before you open your mouth.

bullseyelqcs · Jun 3, 2019

Condor060 said:
IF Obama had ANY historical highs it would make sense to show them, but he didn't. The chart isn't cherry picking as it starts the day Trump won the election. Obama's highest was around 19,000 and the charts starts with Obamas market at the time of 18,500 and how Trumps market hit 141 historical highs in just over a year in office which means there woulnd't be anything to compare it to or would even come close.

Seriously?

The DOW was at 7550 when Obama took office. That was the result of crash of all crashes that Bush ushered in. So that means that it went up 11K points in 8 years, and that included having to the damage that he inhereted.

Don is halfway to that increase at about the halfway point of what could be a two term presidency. So statistically, hes not doing any better than Obama did, and he DIDNT have come in to an economy in shambles.

Consider and respond

Condor060 · Jun 4, 2019

Luckyone said:
First of all, let me state for you (because others already know this), that I am a stock analyst and have been trading stocks for 42 years. I worked as an analyst for Merrill Lynch and Pru-Bache when they were the #1 and #2 in the industry. As such, I know more about the market and what makes it tick in my pinkie finger than you and all the people in your neighborhood know.

I did not say that the market went up normally. I said it went up because of the tax cut and deregulation. The market always goes up when there is a tax cut. What I did say is that Trump has nothing to do with it other than getting elected. The tax cut and deregulation was something the Republican Congress wanted to do for years, before Trump was even in the picture. As such, he did not bring the rally other than because a Republican got elected President. Mickey Mouse would have brought about the same rally in the market if he was Republican and got elected.

As far as the charts are concerned, let me tell you that I am an ace chartist. I sell a charting service to my subscribers and have a 12 year public track record of success. 8 out of 10 times, the indexes will end up doing what I predict unless there is a fundamental change. Right now, 23,500 in the DOW is the "minimum" that is going to be seen as long the the trade war is not resolved. It is entirely possible that the DOW will make a new low below Decembers low at 21712 and if it does, the DOW in the Trump era will barely have made any strides.

So what do you think of today's rebounding. Not being snarky as I respect your area of expertise. Seems the Feds are backing up Trumps tariff plan. No?

Nasdaq, S&P Retake Key Support As Stock Market Stages Huge Rebound

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Luckyone · Jun 4, 2019

Condor060 said:
So what do you think of today's rebounding. Not being snarky as I respect your area of expertise. Seems the Feds are backing up Trumps tariff plan. No?

Nasdaq, S&P Retake Key Support As Stock Market Stages Huge Rebound

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This was the comment I gave my subscribers today regarding the action:

The indexes reacted in a fundamental way today after Fed Chief Powell signaled an openness to lower interest rates if necessary as well as Mexican officials saying they expected to avoid any Tariffs.

With that kind of information, the bulls were in control and the SPX not only closed above the 200-day MA but also closed the runaway gap. This does open the door for more even though the China situation remains a big negative. By the same token, none of this has actually been done (it is just anticipation) so it is difficult to give today's rally the credit it may have. I have no new comment today but tomorrow's action will be important as follow through on a daily closing basis will be pivotal.

Evidently, the NAZ remains the key index and it did close today at the 200-day MA and did close an uneventful gap so tomorrow's action with the runaway gap at 7603 will be watched closely.

Bullseye · Jun 4, 2019

bullseyelqcs said:
Seriously?

The DOW was at 7550 when Obama took office. That was the result of crash of all crashes that Bush ushered in. So that means that it went up 11K points in 8 years, and that included having to the damage that he inhereted.

How much did it go up from the day Trump was elected until the day he took office?

bullseyeelqcs said:
Don is halfway to that increase at about the halfway point of what could be a two term presidency. So statistically, hes not doing any better than Obama did, and he DIDNT have come in to an economy in shambles.

Consider and respond

Of that total market gain - how much occurred after the GOP took control of the House?

Condor060 · Jun 4, 2019

Luckyone said:
This was the comment I gave my subscribers today regarding the action:

The indexes reacted in a fundamental way today after Fed Chief Powell signaled an openness to lower interest rates if necessary as well as Mexican officials saying they expected to avoid any Tariffs.

With that kind of information, the bulls were in control and the SPX not only closed above the 200-day MA but also closed the runaway gap. This does open the door for more even though the China situation remains a big negative. By the same token, none of this has actually been done (it is just anticipation) so it is difficult to give today's rally the credit it may have. I have no new comment today but tomorrow's action will be important as follow through on a daily closing basis will be pivotal.

Evidently, the NAZ remains the key index and it did close today at the 200-day MA and did close an uneventful gap so tomorrow's action with the runaway gap at 7603 will be watched closely.

Keep us up to speed on this. Good to have someone on the boards who has expertise in this area.

veritas1 · Jun 4, 2019

Market up over 500 today. Thanks Trump!:lol:

jnug · Jun 4, 2019

veritas1 said:
Market up over 500 today. Thanks Trump!:lol:

Which means the market's day traders are back to believing Trump is bluffing.

veritas1 · Jun 4, 2019

jnug said:
Which means the market's day traders are back to believing Trump is bluffing.

500 is 500. If we're blaming Trump for it sinking, we can give him credit when it rises. Only seems fair and I know how the left is invested in fair.:lol:

jnug · Jun 4, 2019

veritas1 said:
500 is 500. If we're blaming Trump for it sinking, we can give him credit when it rises. Only seems fair and I know how the left is invested in fair.:lol:

Its the up and down that I am blaming him for...the zig and the zag, the lack of any definitive direction that business, corporate and industrial leaders can use for planning purposes. Trump is absurd.

The Height of Stupidity/Incompetence - DOW down 500 points

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The Height of Stupidity/Incompetence - DOW down 500 points

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