Will the DJIA hit 20K today?

Probably. I spoke with my stock broker a few days ago and he said the DJIA should continue it’s march to 30K. This is what happens when the King of socialist fiscal polices is seen packing his bags to soon exit out the backdoor of the White House.

Most likely, It has been running up for the last 5 weeks based on the strength of Goldman Sachs.increasing by almost 30% since the election.

The rest of the Dow has been modest in the last few months.

Remember, under Obama the Dow has been up 10,000 points!

it’s just a number. A symbolic number, but just a number.

@elbanditoroso My IRA loves the symbolism

@zenvelo That achievement is deceiving as the DJIA plunged from 14,000 to 7,000 when Obama took office. So if you look where the DJIA was just a year prior to Obama taking over to where the DJIA was before Nov 9 election Obama’s true effect on the stock market…from 14k to 18 k in over 8 years is nothing really to crow about. Trumps impact on the market has moved the needle 2K in just over 6 weeks….that’s impressive!

@Cruiser What are you smoking? Bush killed the market as he damn near oversaw a depression to rival 1929. I was on the trading floor in September 2008 when the Republican House failed to approve Bush’s bailout.

The Dow did not plunge from 14,000 to 7,000 when Obama took office; The Dow closed at 7,949 on Jan 20 ‘09. Obama gets full credit for 12,000 Dow points.

@zenvelo Before you start all your panicked hand waving it would greatly help if you read my entire answer. ” So if you look where the DJIA was just a year prior to Obama taking over”
Facts are a fickle thing when you look closer at the market in 2008, it fell another 2,400 points from the day Obama was elected to it’s crash low of 6,600 points in Feb 2009. That’s all on Obama who did little then and still to this day done to instill confidence in the financial markets.

”“The performance of the stock market between Election Day and Inauguration Day might be taken, in part, as a statement of investor confidence — or lack thereof — in the incoming administration,” they wrote. ”

Furthermore it took over 4 more years for the market to get to where it was before the crash (14,000) again thanks in no part to Obamas restrictive and constrictive tax and fiscal policies. Additionally analysts had this to say about our new President in early 2009

“A hemorrhaging stock market cannot be dismissed as a cyclical phenomenon. Today’s market conditions are a direct result of choices made by this administration.”

Now with the markets meteoric 2,000 point jump since Trumps election, it is worth repeating…

”“The performance of the stock market between Election Day and Inauguration Day might be taken, in part, as a statement of investor confidence — or lack thereof — in the incoming administration,” they wrote. ”

What, Robber Barons are excited that one of their own gets to sit on the throne? Shocking!

I’ll wager no, not with the assassination of that Russian ambassador to Turkey yesterday.

Yikes, I’m embarrassed, I thought we were congratulating a jelly for hitting 20k! I am going to hide in shame!

Extra lurve for that admission @Zephyra

Missed it by 25+ points. Maybe tomorrow, Santa rally to continue.

I’m finding it hard to imagine that this unfounded exuberance will continue as Trump’s instability plays havoc with the world. Or am I missing something?

@janbb If Trumps instability as you word it were a problem for the financial/investment community, there would not have been this run up in the markets. The exuberance is founded as there are so many specific reasons that a Trump administration is bringing to the table that my stock broker was able to predict 30K in the Dow. I wholeheartedly agree with him.

@Cruiser Yeah – the market’s never been wrong, right?

Actually @janbb The market is always right, it’s the Fed, botched earning reports and armchair investors late to the early show that blow up the market.

@Cruiser Just set the record straight, the Dow was falling like a stone while Bush was in office. It was plummeting 14,000 down to just above 7000 when he left and Obama took office. (7062 Feb 1, 2009, 10 days after Obama was sworn in. All the increases we have been seeing since that low point have been on Obama’s watch.
I’m not saying he did it I’m just pointing out the timing.

I have no doubt Trump will claim (falsely) all the increase was due to his market savvy. Just ask him. He’ll tell you. “Nobody knows the Bible, tax laws, the market better than me.”

I’d like to see the Dow hit 20,000 just so Obama can claim it happened on his watch.

@LuckyGuy Trump can take all the credit he wants…we and the market know better. Though I have to give credit where credit is due in that somebody on his team helped or did it for him to craft really strong campaign promises that was the shot in the arm and confidence the market needed to pull their monies out of treasuries and put it back into mutual funds and individual stocks. Just to further set the record straight, the 2008 crash was largely in part because of the sub prime loan markets blowing up and all the investors then pulled a YUGE chunk of money (Trillions) out of the market and put it into treasuries where it has pretty much sat until last month. Trump promising to cut taxes, reduce regulations is what jump started this rally and also giving confidence to foreign investors like Japanese business mogul Masayoshi Son to promise to invest billions in the US and help create a forecast of 50,000 new high paying tech jobs…not the part-time and public sector jobs Obama has faked out for the last 8 years. Trump has promised real meat and potato solutions I know will be great for me and my comany, I assume yours as well. The market is responding in a positive way as well.

Back to the crash, Bush started the bank bailouts in 2008, earmarked 700 millions for the bailout used 350 million during his watch and saved the other 350 million for the incoming new President. So the climb out of the 6,600 DOW cellar was already started well before Obama came into office. But nobody will EVER give Bush credit for the recovery in early 2009.

This little spike we are seeing in banking stocks is because of the election. Had Hillary won my strategy would have been different. 2008 was it’s own beast and was mostly caused by banking deregulation and policies that date back even to Clinton aimed at increasing home ownership among the lower income. It was a perfect storm of bad policy making on both the left and right.

One of the reasons it went up was because Trump plans to repeal Dodd-Frank. So Wall Street can go back to doing dirty business as usual and rake consumers over the coals. Plus he’s giving them huge tax breaks.
But also remember that stocks rise when the economy is seen to be doing well. Investors shy away when the economy is doing poor. Or if it looks like something may affect it. So it says as much about the current President as it does the incoming. If we were truly so horribly off, they wouldn’t invest right now. They would hold off to see if things improve.

But no. I’m not surprised. Wall Street knew what a Trump Presidency would mean for them.

No, it will happen on Thursday the 23rd.

No one but the rich benefit from a higher DJIA. Those who do not own stock, cannot afford stock because all of their available cash is going into buying food and paying ren do not get benefit from the imaginary numbers and dollars generated by this.

So.. owning stock makes someone rich? I owned stock when I was 16 and was working for minimum wage. I owned stock when I was unemployed and living in a shitty apartment as a 20 year old student. It affects everyone who has a loan, a bank account, a retirement account, pension… it affects quite a bit.

So the Dow never quite made 20K. It got within .37, but never hit the mark.

As one newsletter i get everyday said, “buy the election, sell the inauguration.” But the press conference yesterday did nothing to settle nerves, and anymore bashing by Trump will cause different sectors to fall. It would not take much to cause wholesale selling of overvalued positions.

There are now warnings of a Trump slump.

Just made it now! 20,000 Woo Hoo!