DOW has fallen almost 200 pts

[Heather MC]

If the Bailout Bill helped so dayum much why has the DOW fallen??
since they announced it passed?????

I am watching the Dems take a victory lap and MSNBC keeps showing the DOW dropping

I know this is just the first hour, but last week when the House failed to pass the bill the down fell 777 pts


edit:
Ok never mind it's moving back up, weird I guess

[thewiseguy]

1. It is going up again.

[sandnsea]

2. My screen has it up 115

:shrug:

[MadBadger]

4. I think it was up close to 300 right as the bill was passed, then went down to where it is now

[Barack_America]

11. It was up 300 based on optimism the bill would pass...

People were trying to buy low before the passing of the bill.

Now that the bill is done, the Dow is reacting to that miserable unemployment report. If not for the bill, the Dow would likely be WAY down now.

[sandnsea]

20. Ah, ok, maybe it's the jobs report

Worst in 5 years? What a nightmare, all the way around.

[flpoljunkie]

3. They want more! Profit taking, before it drop again on Monday, perhaps.

[Uzybone]

5. I expected it to fall

It went up before the vote (buying low) and down a little after the vote (selling high). This bailout is not the end of our economic crisis. Its just a step in the right direction.

[bunnies]

6. Maybe the bill isnt all about wall st after all.

:think:

[Heather MC]

8. things that make you go hmmmm......

[Barack_America]

7. I don't normally watch the Dow, but I have this week...

And every day it has fallen midday, usually earlier than this. Then it rallies towards the end.

In any case, my guess is the Dow is reacting to the unemployment report. We probably would have been WAY down, had it not been for the enthusiasm about the bailout passing. Now the Dow is returning to reacting about that unemployment report.

The fact that the Dow is even +100 on a day where we got that shocking report says a lot about how Wall Street feels about the bailout, IMO.

[Kolesar]

9. Oh well, whatever, nevermind ... eom

[TexasObserver]

10. It's because the credit crunch is OVER!! Over!!

I think it's hilarious that the DOW promptly tanks!

This bill is a boondoggle, and little more. They managed to spook or bribe enough people to pass it.

[Heather MC]

14. Yep and the fun part is the tax payers they claim to care about are the ones getting screwed

woo hoo!!

Obama says it can be re-evaluated down the road. I just hope we have the gas to make it "down the road"

Time will tell

[TexasObserver]

16. True. When the public sees NOTHING positive from this, they'll be pissed!!

[BeyondGeography]

12. If credit doesn't start flowing better, it's worth an OP; this isn't about the Dow

[gravity]

13. Wall Street is always one step ahead of the news

It was expected that the bill was going to pass, so traders bought early. Now that it did pass, they sold to take some profits and are predicting the next piece of news.

The only time news events affect the market is when it was a surprise, which isn't the case. If something is expected to happen, traders will anticipate it.

[Kurt_and_Hunter]

15. Yes, the trader saying is "Buy the rumour, sell the news"

[Brotherjohn]

18. Exactly, the money was to be made anticipating it, not after it passed.

Remember what happened last time when it didn't pass?

[ginnyinWI]

17. 2:03 pm Up 80. n/t

[TexasObserver]

19. it was UP 250 before the bill passed, though!!

[sandnsea]

21. What time did the jobs report come out?

And it's certainly better than a 1,000 pt drop, which is what would have happened.

[TexasObserver]

22. Jobs report came out much earlier. The DOW is reacting to the passage.

And they're reacting to the realization this bill isn't going to save the markets.

It's now DOWN 58 on the day, a drop of 300 points since the bill passed.

[Heather MC]

23. Well let me go count my stash I have in my mattress,

[sandnsea]

24. And once again, better than 1,000 or more n/t

[TexasObserver]

26. another one who believes everything she's told by the government

Your lack of expertise is noted.

[JuniperLea]

25. It's fluctuating... still on the down side as of 11:50am PT

We shall see. Hoping for the best, bracing for the worst!