I’ve started to notice that when White House Press Secretary Robert Gibbs holds his daily press briefings the Dow drops while he’s talking.
Now it’s turned into an amusing little mid-afternoon game I play while working at my desk. I call it “How much will the Dow drop while Robert Gibbs is talking.” As soon as he begins his monotonous recitation of President Obama’s talking points I write down the DJIA at the moment. Today the Dow was at $7917 when Gibbs started talking. About 45 minutes later when he finished taking questions the Dow was down to $7877, or close to a loss of about a point a minute.
At least his press briefing ended in time for the Dow to gain a little ground, closing the day at $7936. Perhaps Mr. Gibbs can schedule future press briefings after the bell.
