Ringing the Market Bell on a Bad Day

Soon, nonprofit groups and celebrities were trooping in to the clang the bell. The New York Yankees rang it after winning the World Series, Adamonis said. Heads of state have been given the honor, along with Olympians, supermodels and children from the Make-a-Wish Foundation.

Companies have since used the bell as a chance to promote new products, or movie houses to get publicity for their new films. Spider-Man once swung through the exchange for the ceremony.

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As the ringing of the bell became an event in the mid-90s, the New York Stock Exchange went so far as to copyright the names The Opening Bell and The Closing Bell.

Spots to ring the bell are booked months in advance, Adamonis said. The NYSE has already booked all slots through mid-January with some companies reserving dates nearly a year out.

Basically, you have no way of knowing if it's going to be an up day or a down day for the markets.

"You can't choose," Adamonis said. "It's the market and I've never run across anybody from the press or the trading community indicate that it's a stigma that anybody do it."

Some companies mollify their clapping a bit when there is a bad day. Other groups who are not as familiar with the market don't always.

Some of the nonprofits, Adamonis said, tend to be generally enthusiastic.

"We don't coach them. Perhaps it's their natural instinct," he said.

Roberts, who actually rang the bell Thursday, said it was "a lovely experience" and was happy with the cheerfulness of her group.

"The YW has, in its 150 years, been through all sorts of ups and downs, in the same way the stock market has. We look at the opportunities going forward and try always to be positive and moving ahead," she said.

One of the YW's board members arranged for the ringing of the bell. For that brief minute, countless pairs of eyes around the world were looking at Roberts and her organization.

"It was very exciting for us. It was a shame it wasn't a better day. We were hoping that we might be able to bring the market up in the end, but our powers didn't go that far," said Roberts.