Friday, January 22, 2010

Cramer's "Brown bounce": day 3 (final results) [corrected]

Recall, I was willing to grant Jim Cramer's Mad Money prediction that a Brown win in the MA Senate race would spark a "gigantic rally" in the market if DJIA closed at or above 10,926 today - this being more than just "noise" relative to last Friday's close of 10,610.

Today's DJIA close? 10,172.98.
Last Friday's close: 10,609.65.
- Down 4.12%.
In fact, the Dow has declined every day since Brown's victory.

Other market indices?
Nasdaq: Last Friday - 2287.99. Today - 2205.29. Down 3.62%.
- again, Nasdaq has declined every day since Brown's victory.
S&P 500: Last Friday - 1136.03. Today - 1091.76. Down 3.90%.
- as with DJIA & Nasdaq, S&P 500 has declined every day since Brown's victory.

Cramer's studied 'intuition' regarding the market ain't too great!

[aside: Who knows - maybe 'the market' realizes just how disastrous Republicans are for the economy... a fact amply demonstrated by the preceding post.]

p.s. Thanks to commenter Steven Piasecki for pointing out my error in including $ signs with market indices.

5 comments:

  1. The market would have been down much more because of Obama's socialist policies. I figure Brown was worth a positive 10%.

    I wish Obama would stop dragging down the stock market.

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  2. "I wish Obama would stop dragging down the stock market."

    The market is up over 3000 points since Pres Obama took office. On the other hand after 8 years of Pres Bush he had a net gain of below zero, just like the jobs he created in the country.

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  3. Kevin obviously lives in Jim Cramer's basement. Just another meat-head who doesn't know anything about the stock market or socialism. American idiot.

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  4. Why are you posting the stock market numbers with dollar signs? The DJIA is not a dollar amount, but rather an idicator of whats going in the market. You take the prices of the 30 stocks that make up the DJIA and divid it by the Dow Divisor which is constantly modified.

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  5. Steven Piaecki: my mistake.
    Now that I've learned something, with any luck I won't do it again!

    ReplyDelete