The Dow sunk to its lowest point since 1997 yesterday, but President Obama says that’s a good thing if you’ve got some money to play around with on the stock market.

While answering questions from reporters today during a photo opportunity with British Prime Minister Gordon Brown, Obama took the opportunity to hand out some investment tips based on the old ‘buy low, sell high’ maxim: “What you’re now seeing is… profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it.”

There you have, it sound financial advice from a man who managed to double the nation’s debt in less than 6 weeks he has been in office.

The President conceded that he doesn’t get too upset over the “day-to-day gyrations of the stock market,” because he’s focused on “the long-term ability for the United States and the entire world economy to regain its footing.”

Comparing the market to political tracking polls, Obama told reporters, “You know, it bobs up and down day to day.”

Bobs up and down, he is kidding, right?

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Technorati Tags: bailout, Dow Jones, Government, Obama, sheeple, stock market, stock market loss, Unemployment

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New Stock Market Terms

New York Stock Exchange, New York City.

Has anyone besides me noticed that the stock market doesn’t like Obama or his Administration?? The market is down 25% since he won the election and every time he opens his mouth it seems to sink to a new low.

As someone who used to be an active daytrader (currently I am not trading as just about the only way to make money in this market is to bet that stock is going lower, shorting). In any event for those of you that follow the market I would like to take a moment to share with you some new stock market terms, lingo if you will.

CEO – Chief Embezzlement Officer.

CFO – Corporate Fraud Officer.

BULL MARKET – A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET – A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

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Technorati Tags: Business, Investing, Market trends, Stock, stock market, terms

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