Stock Market Financial Cable Media Pornography - the conflating of
the nominal with the relative in the stock market averages
A 400 point 'nominal) move down on a Dow Jones of 25,000 is a 1.6%
(relative) move. Yet to listen to CNN or CNBC (neither friendly to the Trump
administration) 400 points is Armageddon
Now at 40 point (nominal) move down on a Dow Jones 1000 is 4%
(relative & move) for example I don't recall getting the out sized over
reaction i.e. an Erin Burnett 'boo-hoo leading' cadence of doom (on steroids
with the excuse 'if it bleeds it leads' or 'we didn't have cable then.'
Yet a 400 point move up on a Dow Jones 25,000, if to be
consistent, should have the same out sized reaction and cadence - but is then
just a rebound- bounce back - correction of an over correction - dead cat
bounce" etc given less time and frantic response. (A study of body
language I believe would bear me out).
And yes by the same token - though with less frenzy - fox business
on the upside elevates the positive and downplays the downside but
certainly with less vigor though with some cheer leading
Confusing (deliberately and purposefully) the nominal with
relative is if anything 'soft' stock market pornography reporting with a
political agenda
