Ok, WTF, why is the market down today!?

Yesterday it creeped up (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4931186&mesg_id=4931186 ), today it fell back down.

WTF is going on?

Companies don't have the best interest of their workers at heart, and the market reflects profit margins- not fairness. If the EFCA passes, you will see the market tank.

has some sort of real meaning, when, in fact, it has even less meaning than a good game of Monopoly.

For far too long, people have been believing in this Wizard of Oz. I keep waiting for the folks to catch on.

So far, they're all still doing the lemming thing, believing that the market is going to tell them something meaningful.

It's a joke, people. Snap out of it.

Today was a day off.

and down forever. Nobody can predict its movement.

This is going to be a long, deep, recession no matter what the politicians try to sell as a "solution".

and that number only reflects the top American 500 largest companies. I haven't found a resource that collects information from small and mid sized companies yet.

:(

http://www.forbes.com/2009/01/09/january-layoffs-fires-lead-cx_kk_0109january09layoffs.html

on home sales, durable goods orders, jobs data, etc.

Bulk cargo is starting to move a little though.

except on days where there are unambigous events that drive all markets, like the Lehman failure. Otherwise:

--The market always reacts against expectations. If a company improves earnings (and sometimes even if it beats published estimates) the stock can still fall if it falls short of the "whisper numbers" analysts are expecting. The same principle applies to the entire market.

--The market is driven by techincals as much as by fundamenals. A market that's seriously overbought may decline even on good news. A market that's hit a resistance level may retreat even on good news. Same with other technical patterns.

--Insider knowledge is so common that the market often reacts to economic news the day before it is announced.

in my crystal ball, the market will fall another 30% by the end of 2009, and probably wont rise much above that for 10 years, or maybe ever. Why? bc there's a lot of very bad assets out there. LOTS and lots, like 10's of trillions that still needs to be shaken out. there is not enough bailout money in 10 TARPS to cover the losses and the market knows it.

it just has to find the bottom and all of the bailout shenanigans only delay that day (and suck more money out of the suckers...US!)

the stimulus is also a turkey! sorry, but it is true. just a significant amt of new debt with zero focus on building a new economy that has a future, isnt based on the US consuming more crap.