1,000 POINT LOSSES MAKE NYSE CLOSINGS LOOK RIDICULOUS

By Howie Katz

I’m sure you have seen the closings of the New York Stock Exchange when the bell rings and guests on the balcony grin and applaud.

That’s fine when the market shows a gain.

But if the market shows a loss, the guests are right up on that balcony, grinning and applauding away.

And they’re still grinning and applauding when the market drops 1,00 points.

Now that’s the hight of ridiculousness. If the NYSE guests are on that balcony at all, they should be bawling, not applauding.

NOTE: It has been brought to my attention that the NYSE selects a different member company for each trading day to ring the closing bell for the exchange. The people on the balcony are members of the companies that have been so chosen and are not applauding the market results, but are applauding because their company was honored to close the exchange that day.

It still looks ridiculous when the market is down 1,000 points.