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February 11, 2009

Comments

Junior

I was just thinking this EXACT thing the other day... after every announcement, MarketWatch alerts pop into my inbox saying "stocks rally after blah blah blah" or "dow slumps in response to...."

There is something to be said for the reaction of the markets to the news of the day. But there is also something to be said for the things going on behind the scenes and the collective consequences of actions from months back just now having an adverse or positive effect on the markets. And then you have the market just being the market and doing its thing.

This is natural. Face it, things are a little nuts out there. So it makes sense that people are looking for a little order.

The financial crisis has also created a new breed of economic savant - completely unqualified individuals who believe that every move the government makes reflects in the market's behavior two hours after the announcement is made. Sadly, these people are employed by the major financial news outlets and having a field day.

You're 1000000% correct.

And you know how much I love to blame things on Obama and Geithner. But *that* perspective is entirely unrelated to the market. Leave the market out of this..........

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