Futures likes Pitt leaving!

Pack your bags fat-ass! You're the reason we got this low!

 

ES at a critical level here 925 -- Resistance from the previous high a few days ago. In fact -- it appears to be the high for quite a while.

 

Pitt is the reason the bubble burst?

Brilliant commentary.....is that what they are teaching in Econ 101 these days?

 

I'm a little confused. What was the vote they had last week between Webster and Biggs? Is Pitt's resignation just a formality, why did they have an election a week ago?

 

Hmm...interesting..I guess Pitt was watching over the hole fiasco when it first began back in the mid 90s with Enron, WCOM etc.

But how come he only started in 2001.

Yup, PITT is why the market bit the dust. :eek:

 

Thank you. And I wouldn't know, it has been years since I've taken Econ 101. (Econ 111, actually)

 

I agree that it's a bit stupid to blame one person, whether Pitt or Greenspan for the stock market bubble. The inflated stock market of the 1990's was created by all of us, everyone playing the market.

Blaming one person for it is like pigging out on candy and cake at a party, and then when you get sick from eating too much candy blaming the parent who hosted the party for having allowed you to eat the candy. Even in spite of the fact that the parent you are blaming now had tried to warn you all you would get sick if you didn't stop, but you didn't want to stop, and now have the nerve to fault him for not warning you strongly enough.
We're all grownups here, we should start acting like it and take responsibility for our own actions.

What I am willing to blame Pitt for, at least partly, is the dumb daytrading rules which are in my opinion dumb and unfair and non-helpful, as well as dumb. Also they are dumb.

 

alphie,
get a clue. pitt resigned before the move. wasn't there some elections in your part of the world last night?

 

Pitt resigned before the move? So wouldn't that possibly make Pitt a good reason why futures are up (besides elections)?

I can't get a clue because they are too expensive -- I'm too busy helping to pay your salary.

 

No. There was plenty of time (couple of hours) for the futures to react after Pitt's announcement. The futures rallied as the senate races were being decided.