Wednesday, November 7, 2012

How now down dow

Forward.  That is the new motto of the Obama administration.  Of course, forward slogans were the key rallying cry for Mao and other communist leaders, so the progressives in America appear more than happy to borrow it for their vision of the country.

However, it appears forward is not the rallying cry of the stock markets post-Obama re-election, as the Dow, S&P, and AAPL cry out in terror after breaking key levels.


DOW


S&P 500


2 Month Apple Chart

It seems like only last night everyone was celebrating more hope, if not much change. Now comes the hangover. The Dow Jones intraday drop is now 2.23% (and rising), greater than the biggest drop so far in 2012 record on June 1. The last time the market plunged as much: literally one year ago, or November 9, 2011. Sadly, it appears that one can't have their Dow Jones Industrial Average and redistribute it too. - Zerohedge

Forward!  To infinity and Beyond! That appears to be the no-win mantra of Fed Charman Bernanke and the hope and change of those who still own paper in the Wall Street casino.

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