Your Questions About What Is Driving The Stock Market Today

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Steven asks…

If there was a “How’s My Driving” bumper sticker on the back of Obama’s Cadillac Tank, What would you phone in?

Just about every Cabinet Post Needed a “Do Over” Every time he makes an announcement about the economy the stock market Plummets (Like it did today) Two weeks into office his own assessment of one of his decisions was “I Screwed Up!” So how’s his leadership doing?

Justin answers:

Report Obama as drunk driving, reckless and endangering lives.

Pull him over and stop him before he does any damage.

The analogy would be accurate, reckless spending, endangering the welfare of our economy, and drunk with power

Ken asks…

Do you see what the market speculators have done today?

Once again, the world speculators have driven the market down. You will now see it start to rise rapidly to just a little over what it stared out at today. Tomorrow, you will see it tank again…and go up again. They sell their stuff early in the day and after the entire market tanks, they use their profits from their sale to buy other more valuable stocks that are way down. They will keep doing the same thing over and over and over…and you and I blame our bad economy on Bush or Obama. Not so. The whole stock purchase thing needs to be revamped. All of wall street is just being a pawn to the conglomerate weatlh of the world..and we are buying into it and blaming everyone else.

Justin answers:

The Dow is up 2% so what are u talking about?

Joseph asks…

Does Biden ever read the newspaper. He says we are heading in the right direction. Headlines don’t agree?

Home sales in the United States were down in July. This in spite of dirt-cheap mortgages and greatly reduced prices. The figures are the worse we’ve seen in this country in over a decade. The experts are telling us that we’re in for another drop in home values. Welcome to Recovery Summer!

The Financial Times says that disappointing US economic figures are driving a surge in demand for low-yielding assets. I’m not sure what that means, but it doesn’t sound good. Here’s a quote: “Things appear to have come to a head…with markets braced at the edge of a precipice ahead of key US economic data likely to further unnerve investors already concerned by the extent of impending slowdown.” Welcome to Recovery Summer!

This from The Wall Street Journal: Day after day, investors have been hit with more evidence that the economy is stalling. The Dow is down over 4% this month, after an ebullient July that was fueled by impressive earnings results from U.S. companies. The Dow posted another triple-digit loss today and at one point fell below the 10,000 level. Michael Casey has details about the factors driving today‘s market action. But earnings season is now over and investors are far more focused on potential troubles ahead. What‘s that Biden said? Oh yeah … Welcome to Recovery Summer.

Economist David Rosenberg, apparently someone who has earned a certain degree of respect in economic circles, writes a daily brief for investors. Yesterday he said that the U.S. economy is heading into a 1930s-style depression. He reminded his clients that the Great Depression also had some high points such as positive stock market gains .. but then, as now, those signs of recovery were unsustainable and only provided a false sense of stability.

Charles Nenner, founder and president of Charles Nenner research says that the Dow is on its way down to 5000 in the next 30 months. He’s saying that things “really look bad for the next 10 years.”

While millions of Americans are looking for jobs so that they can start taking care of their families again, Our Hero is looking for over 5% in new income tax that our own government says will affect 50% of the small business income that we need to put to work to grow new jobs. Smart, isn’t it?

You saw the jobless claims that came out last week. Try 500,000 new jobless claims. Welcome to Recovery Summer.

The number of subscribers to cable and satellite television fell for the first time in history during the second quarter of this year. People just aren’t going to pay the price any more .. not in this economy they’re not.

The Obama Administration is no longer using the “jobs created or saved” nonsense to tout the effectiveness of the stimulus plan. There’s a new phrase now …. “lives touched.”

The Obama Administration has now as much as admitted that ObamaCare will increase the cost of medical care in this country and, at the same time, add to our deficit. Exactly the opposite of what was promised when they were trying to get the bill passed earlier this year.

Justin answers:

Biden is merely riding the wave of cognitive, rational disconnect that swept 0webaama into office. “Just believe what we say and ignore obvious reality.”

Charles asks…

Why drives the DOW and the drastic day to day changes?

I’ve recently become more interested in watching the stock market as I’m sure many people have lately. It is starting to drive me crazy though. Yesterday stocks were down because of “bank woes/worries”. Today they are up because of “bank optimism”. What is causing drastic changes from day to day. Are there just different reports that are released everyday that change the outlook for the market? I have a basic understanding of the DOW and how it is calulated so I’m looking for an easy to understand answer.

Justin answers:

“Fundamentally”, simply, what drives the value of the DOW, or the market as a whole, is the ability of companies to make profits.

With the price of stocks and the earnings down the upside potential for both to go up is big. With this recession being one of the worse in our history the downside risk to earnings and stock prices is also big.

The market tries to predict the earnings 6 to 12 months from now and tries to price based on that. Right now with so much in doubt any news changes the perceptions, the estimates, of where we will be in that time in the future.

Therefore the DOW is moving in a big way in either direction on any news that indicates a change in the potential for future earnings.

John asks…

What is so bad about riding the bus anyway?

Today, I have directed the Federal Reserve to print $500M in monopoly US money – which the FED will use to buy T Bills and run up the stock market

We call it “Quantitative Easing” to fool the unwashed

This will lead to instant jolt of inflation, and gas should rise about a $1.00 per gallon in the next month or so (which we will blame on Republicans)

So what‘s so bad about taking the bus anyway?

James Cameron says we have to learn to live with less !

At least I’m driving the stock market up higher, for my pals at Goldman Sachs

Justin answers:

On that note…soon the US dollar will be similar in value to 1987 Topps baseball cards…

David asks…

Do I owe people an explanation about my material possessions?

I am a business owner, just 33 years old and I enjoy certain luxuries in life that being an entrepreneur has allowed me to have. However, the one thing that I can do without is the repetative questions I get from people when I am out and about. People will ask me what I do for a living and I will tell them, stock market related. Instead of just moving on to a new topic, they dwell on money and every question is pertaining to money. I realize that driving luxury automobiles probably inspires people to want to question me. I could drive a Prius and they would stop bothering me, but I don’t want to do that. I am very quiet and I definitely don’t go around bragging to anyone about anything. I just work hard and I enjoy the fruits of my labor, nothing more. Even, when I politely say, I rather not talk about work, they give me attitude. It is like, that is the only topic they want to discuss. I am mad about this right now because I was in Saks Fifth Avenue today and this guy kept asking me a bunch of questions and ask me what stocks to buy and I told him I was just out shopping and I just wanted to relax. He gets all mad and says I don’t other people to be rich, which is totally absurd and crazy. I just don’t want to be bothered. I would like some ideas on what verbage to use to try and indirectly tells these people to leave me alone. Saying none of your business does not work and just makes enemies. What are some clever ways to divert a conversation away from money and onto something that is not money related.

I am a guy by the way. I also want to add that this is not women asking me this stuff and the ones that are, they are not gold diggers. They just are obsessed with money and how i got it and I just can’t take it anymore. I have got to the point where I just pay someone to go shopping and go to the grocery store, etc.. just because I don’t want to be in public and that is no way to live.

Justin answers:

.Reply “Luck’s a fortune and if I don’t come up with the goods next week. Then the car gets repossessed”

Robert asks…

Advice on dealing with nosey people who are always asking me about money?

I am a business owner, just 33 years old and I enjoy certain luxuries in life that being an entrepreneur has allowed me to have. However, the one thing that I can do without is the repetative questions I get from people when I am out and about. People will ask me what I do for a living and I will tell them, stock market related. Instead of just moving on to a new topic, they dwell on money and every question is pertaining to money. I realize that driving luxury automobiles probably inspires people to want to question me. I could drive a Prius and they would stop bothering me, but I don’t want to do that. I am very quiet and I definitely don’t go around bragging to anyone about anything. I just work hard and I enjoy the fruits of my labor, nothing more. Even, when I politely say, I rather not talk about work, they give me attitude. It is like, that is the only topic they want to discuss. I am mad about this right now because I was in Saks Fifth Avenue today and this guy kept asking me a bunch of questions and ask me what stocks to buy and I told him I was just out shopping and I just wanted to relax. He gets all mad and says I don’t other people to be rich, which is totally absurd and crazy. I just don’t want to be bothered. I would like some ideas on what verbage to use to try and indirectly tells these people to leave me alone. Saying none of your business does not work and just makes enemies. What are some clever ways to divert a conversation away from money and onto something that is not money related.

I am a guy by the way. I also want to add that this is not women asking me this stuff and the ones that are, they are not gold diggers. They just are obsessed with money and how i got it and I just can’t take it anymore. I have got to the point where I just pay someone to go shopping and go to the grocery store, etc.. just because I don’t want to be in public and that is no way to live.

Justin answers:

Hi well I’m a Nurse who also does a lot of share trading and have made & (Lost) heaps from stocks I find it enjoyable especially when market is tops n turvy like before and at moment but still way,way ahead….
My fellow workers plague me all the time for tips BUT as u would know there are not such things as certainties,my way of handling is by saying would u lay all ur savings on the line knowing u could lose it all or most of it hmm?
No such thing as easy money and I have to ask how would these ppl know if u didn’t tell them ??
So all u have to say is having a bad run don’t follow my tips I lease car LOL ?

Thomas asks…

I need some advice on salary negotiations?

Ok, I am 31 and have over 7 years of sales and management experience. I was laid off back in July and am currently negotiating salary for a job with Sysco Foodservice. I hate negotiating salary, and need some advice. I’m unemployed, married and have 2 kids at home so obviously this is a big deal with the job market today. In my last job, I made $50,000 with a $400 car allowance, company gas, and $50 allowance on cell phone. Sysco has offered a $45,000 salary with 401K (match to 6%), pension plan, stock options, etc. The only drawback is that I will be required to drive my own car, supply my own gas and cell phone. My estimates are that I will be driving around 2000 – 3000 miles per month. They have offered $200 in “expenses” per month that go towards anything that I need them to. Obviously, this will go towards gas and car maintenance, etc. In addition to the salary, I was offered bonus and commissions that should add an additional $500 per month. My question is this……what should I counter-offer with to get the most that I can get without pricing myself out of the job? I’m thinking somewhere between 52 and 55. I would love to hear from someone who hires people in this range. They have not officially offered me the job yet, so I’m hesitant to ask for that much for fear that they will not make a formal offer. At the same time, I don’t want to sell myself short. Thank you for any help.

Justin answers:

Ask for 55K and cross your fingers for 52K. Remember that countering is acceptable, but haggling is not. Also, take whatever they give you right now, if it is not a dream job you can always keep looking. But right now something is better than nothing. If you are married, and have 2 kids AND your own car………even if you will not make the 50K mark….suck it up…….you are still living comfortably. There are many Americans who cannot even afford groceries right now.

Best of luck to you. But don’t forget how to stop and be thankful for what you DO have.

Donald asks…

914 Porsche weekend driver… realistic?

I’m curious what the more knowledgeable Porsche guys here think of 914’s on the market today?
What is the aftermarket part situation like? I’m thinking to buy a clean used stock car with a budget under 10K. Not looking for a project want something I can reliably drive on the weekends and have some nostalgic fun.
The price of mid 60’s Karmann Ghia’s has become stupid here on the west coast I had some good times in a 914 back in the day.

Justin answers:

Very easy car to maintain.
The engine is very common, used in VW van from 1972 – 1983. Also common for dune buggies.
You can get a total rebuilt one for less then $2000.
Very rugged engine.
After 1977 then switched to hydraulic lifters, so no need for valve adjustments anymore.
Can be retrofitted.
Easy to put in larger bore pistons and cylinders.
Not really that weak because it is so light, and you don’t have to slow down on corners because it handles so well.

Only real expense is if transaxle has problems.
They are much less common than the engine, and cost something like $2500 to rebuild because not many know how. Shift linkage can be somewhat problematic, but not that expensive to fix right. Rust is not that much of a problem because most surfaces are flat. What you can’t braze, you can patch with fiberglass from the inside.

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