Been since 2006 since we had a closure dude to living president's death. https://www.zerohedge.com/news/2018...ay-mourning-president-bush-stock-market-close
It is NOT manipulation. It is just something they do from time to time. Why are you panicking about this, as it is 2 trading days away? Oi! https://www.elitetrader.com/et/threads/dec-5-stock-market-closure.327529/#post-4768196
Ok it’s not manipulation. I just disagree with it. And I was a Bush supporter. Guess I’ll go hiking or something
It's got almost nothing to do with Bush per se, but with the fact that someone who held the title of "The Most Powerful Man On Earth" had passed. Markets hate uncertainty, right? "Everybody knows this." Well, markets also love the opposite of uncertainty: certainty. You can translate that as "tradition" -- like the a'capella singing of certain songs on the NYSE floor during a holiday, or the celebrations when a member retires -- all those old traditions described by Art Cashin on CNBC. Why? Because they mark time with stability -- stable markets are sure markets are *investable* markets are *lovely* markets. So, into that love of stability, fold the institutions that provide for the stable markets: government, leaders, the armed forces, etc. Raw, U.S.-oriented, unabashed, patriotism: the financial markets pay heed to and celebrate "the U.S." as the place that allows them to do business in the safest, most sound, law-abiding place and manner possible. So, if the markets support the U.S. government, and celebrate it when possible -- and uphold *traditions* in that manner -- then the passing of one of those Big Parts: a Chief Executive -- that's an automatic Big f'n Deal. It's a total *given*. (And the fact that it was GHWB -- a President who's legacy will *continue* to grow as the lens of History clears and focuses -- that makes it maybe just a bit *more* of a BfD. ) Love your idea of going hiking, BTW. I might end up doing leaves, but..... I'd sure rather be hoofing it somewhere....
When the market is not open, this is a good time to be tweaking, re-evaluating and mulling over your system's performance. What's this about hiking??? Do you think sunshine and exercise is healthy??? Get back indoors and close the blinds and curtains so you don't get distracted by other worldly trivia! LOL, just kidding ya.
These market closures to respect the funeral of a former politician are BS. I think the only time it happened here in the UK was when Winston Churchill was granted a state funeral, as normally reserved for the royal family, but I think most people would find it hard to argue that he was an exception. As for the others, we just don't hold ex-Prime Ministers in any high regard. For the rest, and I have nothing bad to say about Bush personally, they're just retired politicians. In general, I wouldn't trust a politician far enough to lend him my car keys to go get a newspaper and some milk at the corner shop. This closure BS just seems like the NYSE sucking up to Washington.
This is like 20% free Theta if you sold the weeklies right? Or am I missing something here? Hmmm.... How's Jimmy Carter doing?
Why would an irrelevant stock exchange suck up to Washington? The NYSE is nothing like it was 40 years ago, back before all the electronic crap of today, and before the conglomerates like ICE came around. It was one of the big three I used to gawk at in the New York Times Business section. What is it now? Buried in that shithole ICE who want to....Well, that is me ranting, nvm. But why all the disdain about a single day market closure that you are not used to? WHAT IS THE BIG DAMNED DEAL? Oi kevetch!
Why? Perhaps they're not happy with being seen as irrelevant, they want to be up there alongside the great offices of state (which, I agree, they are not). Maybe they see a way to influence lawmakers and powers that be. Either way, their decision might be called self-serving, sacrimonious, pompous virtue-signalling. I think their judgement is especially poor if they are busy thinking up ways to honour politicians of all people when they should be busy maintaining the services of one of the largest stock exchanges in the largest economy in the world. Shan't be losing any sleep over it (nor any money actually) but its always healthy to take pot-shots at self-important suits.