The Eclectic One

…Because labels are a poor substitute for thinking

Is Wall Street weighing in on the election?

Posted by Bill Nance on September 8, 2008

I’m no financial wizard, but I think this chart of the Dow Jones Industrial averages shows an interesting trend.

Note the dates of the Democratic National Convention: August 25-28.

Day one of the convention, when many Hillary supporters were (according to the MSM) ready to defect en masse to McCain: Dow goes down.

Day two, same coverage, things are looking a little bleak for the Dems: Dow goes down more.

Day three, after Hillary’s speech seems to dramatically change the tone and woo voters back to Obama: Dow goes up.

Day four: After Biden’s speech, Dow spikes

Day five: Day after Obama’s speech, Dow still up, small down-cycle, but not significant.

Now compare the above to the RNC:

Down, down, down, and down some MORE.

Who do you trust to manage the economy again? It seems to me as though the markets are speaking louder than anyone else on this issue.

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