Monday, January 26, 2009

Market Moves Down with Obama Speech January 26, 2009

By Mike Hunt

Does anyone else notice the “coincidental” downward trend of the world market(s) during most of the highly public showings/ speeches by President Obama?

For example, we see that during an upward move of most major indices on January 26, a speech was given by President Obama that concerned his emphasis upon the reduction of foreign oil reliance, legislation encouraging alternative energy investment, and of course the usual “change/ new deal” twaddle. Note that during and immediately following his speech, a market dip was noted just before its crash effectively ending any hope of that day’s rally. Most investors including myself knew to sell off everything after the peak once again due to that very speech.

Perhaps it all began with Obama’s inauguration day in which the market dropped like lead to an unprecedented 332.16 points (DJIA). I say unprecedented because never before in our history has a relative market drop occurred during any previous inaugurations. This is not a good sign in terms of confidence and “trust” amongst world investors who are already paranoid following a dismal and tumultuous 2008 circling of the financial western drain.

Also note that each and every time President Obama addresses the economy, especially then does the market respond less than favorably.

A coincidence?

Could there be a direct relationship between the price of oil and recent world market fluctuations?

I would say that either Obama picked once again a most inopportune time to destroy confidence in oil investment or that we are, as the general brain-dead populace sees their man walking on water, only seeing coincidence.

Perhaps we might now appreciate some Ted Turner rose colored lenses or maybe Prozac?

Hell no.

I am sticking with reality and one should know that as truth is so often disturbing so then is falsehood reassuring.

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