Biotech Values

[poorgradstudent]

>If the press is giving credit for yesterdays 500 point gain because Obama named Geithner to the treas position are the also stating that Obama is responsible for the 2000 point net loss since election day?<

I think it is simply a relief rally because a certain level of uncertainty was removed. The assignment may be giving the market the impression that the upcoming administration intends to focus on the issue. Whether it is successful or not is obviously hard to predict. But the perceived erratic strategy of Paulson, combined with the President being basically a no-show* during the crisis, has not given the market confidence.

I would think it silly to judge any of these market moves as a result of Obama's initiatives to date, for the simple reason that they've not yet been well detailed.


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* It's not a question of whether Bush can intellectually contribute to the formulation of a solution for the economic condition. It is more his ability to give the citizens confidence that the problem is being worked on, with utmost priority, by capable people.