Word: nasdaq
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...these are the professionals. As you've probably heard by now, the stock market, like some dim-witted clerk, applies a generous markdown to what it can't figure out. Thus the NASDAQ index fell 12% during election week and plunged again last Monday, crashing below 3000. It bounced back on Tuesday but was dishearteningly choppy the rest of the week. The Dow has been on its own treacherous sawtooth course, breaking the will of many who had expected a year-end rally to take shape...
...NASDAQ is down 40% from its all-time high and down 26% for the year. The Dow and broader market gauges are down for the year too. With so much damage on the books, it would require superhuman restraint by investors not to greet future rallies with some selling in a bid to get even and get out, or just take some risk off the table...
...wasn't doing a very good job of containing his anger. He accused the Bush people of trying to "presumptively crown themselves the victors, to try to put in place a transition," thereby running "the risk of dividing the American people." With that, the markets began to wobble, the NASDAQ bungee-jumping 87 points before springing back...
...markets are handling the ongoing non-election pretty well. Since taking a deep dip Monday that had Bush surrogate-in-chief James Baker invoking "instability" as a reason to stop the re-recounting in Florida, both the Dow and NASDAQ have been going about their bargain-hunting unperturbed by the legal and political quagmires in the Sunshine State. Both indexes posted steep three-digit gains Tuesday. On Wednesday the buyback continued - apparently some investors see an end to the Florida mess by next week...
...markets are handling the ongoing non-election pretty well. Since taking a deep dip Monday that had Bush surrogate-in-chief James Baker invoking "instability" as a reason to stop the re-recounting in Florida, both the Dow and NASDAQ have been going about their bargain-hunting unperturbed by the legal and political quagmires in the Sunshine State. Both indexes posted steep three-digit gains Tuesday. On Wednesday the buyback continued - apparently some investors see an end to the Florida mess by next week...