.........Noticed a nice move by AXP yesterday reversed by todays market. Both CNN and AP blame today's down Dow on Asian jitters and Lewinsky's immunity deal !! AP says the market has fears over the "threat of instability in Washington" What instability are they talking about ?? I would guess that half those AP stringers were in diapers the last time the I-word [impeach] was thrown around with Nixon.....and he had the stones to really make a Constitutional crisis. Clinton's a marshmallow compared to him. Does Asia + Lewinsky = the beginning of the long expected DJIA correction...and buying opportunities for WEB. Comments??
Nixon was a petty thief compared to a high traitor. Nixon, so far as I knew, did not offer government jobs to those who slept with him, have people killed, or take bribes from our country's worst enemies in order to make disasterous US policy. He didn't lie daily to the US people, he didn't keep secret FBI records in his personal quarters, he didn't sabotage the Secret Service's job of keeping the White House secure from criminals. His brother wasn't a petty drug criminal. Nixon's wife didn't commit securities fraud in order to take home bribes while he was in a lower office such as governor. Nixon didn't exploit the federal government's obscene banking subsidies to fraudulently sell and buy the same riverfront property.
P.S. Clinton is the first president who would not have been eligible for a US security clearence, except for the fact that he was the president.
.....for refreshing my memory of Clinton's long history of dishonesty. I think that you and I could sit down over dinner and talk long into the night over which president did the most damage. Here's what I don't understand about today's AP and CNN report.........Why does the Dow react today to Clinton's Lewinsky scandal? The Dow had no trouble with the selling of the Lincoln bedroom or the selling of rocket technology to the Chinese. The Dow didn't mind Vince Foster or Paula Jones; totally shrugged off the various Cabinet officer's indictments: could care less about Webster Hubble and the Rose Law Firm. But now, all of a sudden today, the market reacts to the upcoming testimony of a 23 year old woman ! The only conclusion that I can draw is that the Market feels that the Monica thing has the most potential for harm to the economy. Ironic......isn't it?
Since 6/30/98 brokerage statements I'm ($100,000) on my "A" share were I to sell at yesterdays close.
At $84,000/A I put a stop limit loss on at 66,000 or worse.
regardless of peoples "JERRY SPRINGER" approach to investing i.e commentsof vaseline and IV( no I know not medical) can someone provide rational dialogue for both volume and price actions?
Who is selling? Instittutuionals $, Sequoia, Oakmark, ....surely not widows and orphans?
If stock overvalued at 80+ then GRN for stock was a discount to future value, but @ 66-69,000 why shouldn't one think it's fairly priced?
Yes pass through co.'s have been hit, but what about impct of whollyoned operating units so proudly lauded in the "OwnersManual"
Please....some quantifiable information and not the fact that " a young woman with an overbite and her mother" get immunity.
Gawd forbid if that's behind BRKA/B then WB should sell Catastrophe insurance to all political parties. Sen. Orin Hatch and Janet Reno are exempt as having "pre-existing conditions" caused by their chronic attack on MSFT