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What's to celebrate?

Discussion in 'Consumer Affairs' started by Katzpur, Aug 11, 2006.

  1. Katzpur

    Katzpur Not your average Mormon

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    I'm just wondering if someone can answer this question for me. I know it doesn't really matter, but it has been bugging me forever. Every night on the TV news, there is a stock market report. Lately, it sounds like this:

    "And the Dow is down. Nasdac also fell, as did the S&P."

    As this announcement is made, the camera focuses on a bunch of smartly dressed men and women standing together :clap . Why are they :clap if the stock market is down? They should be wringing their hands, shouldn't they? What's to :clap about?
     
  2. almifkhar

    almifkhar Active Member

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    just a quess, but perhaps it is a job well done for destroying our economy a little more?
     
  3. SoyLeche

    SoyLeche meh...

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    There are a couple of things: short sales, options, etc - if you know what you are doing you can make money on the stock market no matter which direction it goes.

    My gut feeling is that this isn't the answer though. A lot of things go on at Wall Street. For example, someone is always honored by given the opportunity to ring the opening or closing bell. When my company had it's IPO (initial public offering) our CEO got to do it. I would think that the camera caught these guys at one of those times. Now, why did the station chose to use that footage? Your guess is as good as mine.
     
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