Tell that to average Joe who has no job and does not know what exactly stock market is although might have heard about it somewhere. Obama could not do much to bring unemployment rates down, so that does not impress. Obama is also Black, so he can turn mountains and rivers but will still be a one term president. That's much more easy to figure out ;-)
Okay, but stocks were susceptible to going down on bad news because there was no explicit QE3 hinted at today.
Well obviously there would be some, but I wouldnt expect the deadcat bounce on absolutely no news and small volume to be more than the drop on bad news out of China, Europe, and US unemployment report on very heavy volume. 270 pt down day vs a 290 pt up day. I was surprised by how easily it was able to go back up on nothing.
How did you prove that it was able to go backup on nothing (the word that needs prove is the word nothing)?
The average Joe needs to stop listening to reality and start watching CNBC to see how great our economy is doing! The stock market cant stop going up things must be great!
If I can ask this question, do you think the market should be trading below Monday's low? If yes why, and if no why?
Speaking of real cash. How about that $100 journal of yours? http://www.elitetrader.com/vb/showthread.php?s=&threadid=221311&perpage=30