Extracting blood from a turnip

Posted: Aug 10, 2011

I do watch stocks and the market and I would say I am getting a bit of experience. As Boehner and the House led the country to the verge of economic collapse last week, I was listening very carefully. After the debt ceiling bill had been passed and everyone was breathing a sigh of relief, I noted that the CNBC pundits were talking about the corporate insiders selling activity (Corporate CEOs and other high ranking corporate types must report when they exercise their personal stock options). An indicator to sell off a particular stock is high when you see alot of insider selling. Then, when the market should have been settling down after the debt ceiling deadline, there was a 413 point drop in the DOW between Wednesday, August 3, and Thursday, August 4. The part that is curious, is the S&P downgrade was not released until after the market closed on Friday, August 5. Anyone else see any funny business here? Monday's sell-off was entirely predictable in light of the S&P downgrade. The fluctuations that occurring now are probably based on a fear-driven round of profit taking opportunities (stealing?). I sure hope the SEC takes a look at the big fund/big banks that were selling. There are days when I cannot believe what they did to Martha Stewart for taking a friend's advice when this huge rampant stealing goes on all the time. Anyway, I then saw the below video of Dylan Ratigan expressing his views. I am starting to think perhaps Obama's Super-Congress is a brilliant move, if they can get some moderate Republicans serving as well. Maybe change is possible. ;