And So It Begins...
As many have foretold firearm gun sales started to climb in October prior to the election.
October sees 10.6% increase in firearms sales checks over same month last year; 17th straight month over month increase
Yesterday the stock price of gun makers Sturm Ruger and Smith and Wesson popped despite hefty falloffs in the major indices. RGR +5.91% on 251% higher volume and SWHC 9.62% on 236% higher volume. Please note that the market is in a correction and the safest place to be is cash
It will be interesting to see how sales will climb. I mean "I do think at some point you've" purchased enough firearms.
It's a plot I tell you.
The economy stinks. People don't have jobs or money so gun and ammo prices go up. That's how they will regulate guns - no one will be able to afford them.
Only somewhat tongue-in-cheek.
300 point drop the day after the election. If that's "Moving forward" I want to go back.
The DOW was down due to more bad news from Europe. It had little to due with the election. Futures were flat until about 2 hours before the bell when the European Central Bank announced that the euro zone crisis that has plagued the southern economies of Greece, Spain, Italy and Portugal is now hurting Germany as well.
Originally Posted by OldVet
Let's keep the facts straight.
Europe is certainly part of Wall Street's concerns... but I also read that it's the looming 'debt cliff' at the end of the year.
It means a big jump in taxes and a lot of layoffs in the arms industry.
The market moves and there is no shortage of people offering plausible explanations. Very often the reason is not known for months later. To me the important thing is not why but it moved but where the line of least resistance lies.
I want cheap ammo, I'm sick of paying $15 a box for cheap .38spl. That's why I won't buy a .40 S&W, .357 or .44. Ammo is just too goddamn expensive and I want to shoot a lot.
No reference to politics, or if Obama is good or bad, but here is an interesing perspective I heard from a friend.
Some people are speculating that Obama will be better for the major stock indicies than Romney would have been. The theory is that with Bernanke buying Billions in bonds every month with no end in sight, and Obama loving spending money, the value of the dollar will go down. If the value of the companies stay the same, they will be worth more dollars and the stock prices will rise to compensate for the weak dollar. Not sure how true or accurate it is, but that was one speculation.
As to the initial plunge after the election, who knows what caused that. All anyone can do is speculate. Anyone that tells you they know exactly why anyting happens in the market is either delusional or lying. It's all a guessing game.