If you were cheering the capture of Saddam Hussein on Sunday but were left scratching your head when the market didn't go through the roof on Monday, you weren't alone. A few investors have written in or posted on our lively discussion boards to share similar sentiments.
While the market opened strong on Monday morning, it dipped into the red by day's end. Fine. Get over it! Political events can shape the direction of equity markets, but they do so over the course of months -- if not years. You can't rest it all on one day, especially when all of the major market indices are sporting healthy double-digit percentage gains this year.
The situation in Iraq is serious. There's no point in arguing otherwise or stirring the pot in getting partisan about the ramifications. But if we're allowed a brief respite to find some levity in the worries that the market didn't shoot up a kazillion points on Saddam's arrest over the weekend, here are the top five reasons why finding Saddam didn't save Wall Street earlier this week.
1. Repeated viewings of the footage of Saddam opening his mouth for inspection lulled the country into slumber. Folks didn't wake up eager to buy until just after Monday's closing bell.
2. Sure, the New York Stock Exchange sputtered, but you should have seen the three stocks that trade on the Tikrit Trading Post.
3. Down day on Wall Street? Bah! I don't know about you, but I made a mint shorting the bejeezus out of Spider Hole Security Solutions PLC.
4. Investors were saving up for the eventual eBay
5. The market had risen "Saddam" much over the past year, it was due for a breather.
Then again, maybe it was the country lamenting Geraldo Rivera's bad timing or the possibility that the capture would inspire illusionist David Blaine's next contortionist endurance stunt. Or could it be that income investors were left wondering if tightwad Microsoft
No. It was none of the above. Well, except maybe for the fifth. The markets have been resilient since bottoming out last year. Pauses are to be expected along the way. Let's measure the market's success in yardsticks -- not teaspoons.What did you think about this weekend's capture of Saddam Hussein? Has it altered the world picture or is the turmoil still bubbling over? All this and more -- in the Current Events discussion board. Only on Fool.com.
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