In Sep '08, when it became apparent that abummer was going to defeat Senator McCain, the market started to tumble and it kept going down into Apr '09. SPY went from $130.00 to $70.00.
The same crash begins to appear on the chart in Sep '12, but this time it is reversed by Romney's performance in the debates. Notice how coal stocks rose for a while, then sank after the election. The market was expecting a Romney win, but instead we got another 4 years of abummer. So the slide resumes and just how far down it goes again is anybody's guess.
Actually people are cashing out their profits so they pay less taxes this year instead of being taxed at a higher rate next year. Then they'll double dip and buy again at a lower rate.
From realnewspost: These same people will just buy the assets back later on so they only pay the higher rate on future gains. This notion that people are not going to want to work to get rich because they will have to pay more in taxes is complete nonsense.