Monday Dow down 780 and the world is on the brink of implosion. All the news shows, all the front pages of the biggest papers, they all painted an end of day scenario. Today, Dow is up 485, recovering a huge piece of the 780, and the story is a footnote on the nightly news. Does the average guy or girl ever stop to think about the level of manipulation being thrown at them? It is very similar to the film ‘V for Vendetta’. That is the messaging, the propaganda, and the fear are quite an impressive achievement for politicians and the media. It might be a sick and perverse achievment, but it is impressive.
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October 1st, 2008 at 10:23 am
The level of manipulation is off the charts. The people who only get their news from one media outlet or politcal party are not getting the whole story. The days of getting the facts reported with a neutral bias and letting you decide what to make of it are gone. There are very few journalists or politicians or Corporate CEO’s that I have any respect for.
October 1st, 2008 at 12:25 pm
It’s the tail wagging the dog…
October 1st, 2008 at 2:59 pm
Surely this is enough to dispel any notion of ‘efficient markets’. How can the DOW drop a mssive 780 and then rebound 485 without any ‘real’ news apart from media speculation. Reason for the rebound? “markets are confident the bail-out will happen”!!!
October 1st, 2008 at 9:25 pm
Why didn’t we do all this for the nasdaq when the Dot-Com bubble burst? Oh wait we did…thats what caused this. Keep up the good work fellas. Check back in a few years for the next “once every hundred year” disaster. Markets move, get over it.
October 1st, 2008 at 10:01 pm
Well we never have the “whole story”, that’s why its best to ignore it all when making trading decisions.
October 5th, 2008 at 1:41 pm
What about all the other 300+/- closing days, or the mult-hundred point intraday swings? These are not outcomes that can be successfully modeled. System traders who are likey being affected by the emotions of the past several weeks/months need to get back to basics. Speaking for myself, and perhaps others, we would be better off sticking with end-of-day data rather than responding with either fear or greed to the manipulations of newsmedia, the administration and idiotic congresspeople.