Boy if we tack on another 100 points we could really scare some people today. Only 1:45now, oil closed down gold as well... Where do we stand now? I'm only beginning to process this whole affair, best as I can tell we have bought some serious time. Also I view this as a one time adjustment and no further rate lowering. ~ stoney
I remember the markets being this high before and everyone jumping in as if it was going straight to 15k, we all know what happened next. The dow may get to 15k this year and maybe 17k next year, but when the bear returns to wallstreet and all those good times buying the dip become worthless you will see a 25-40% drop in equities. Its not a question of IF, but when.................
Please stop quoting stock_turder. Those of us who have him on ignore find this a much better place when we don't have to be subjected to his stupidity. Thank you.
Maybe that's because we're only in the 3rd or 4th inning of that mess. Wait until we see more areas in the US start to see home values decline. That's when you'll start seeing people walk away from their houses due to the mortgage being higher than the value of the house/condo. This is far from over. Once again you show you have no understanding of the housing/mortgage sector. Lowering by 50 bp was a very clear signal that the Fed knows things are worse than most people (like you) comprehend.
We'll see what happens. I see smooth sailing for many many decades. THE MARKET IGNORES HOUSING! IT HAS BEEN IGNORING IT FOR 2 YEARS! The era of purpetual upside is here. Also, in august I was perhaps the only one on this forum that said the subprime/liquidty/mortgage isssue was no big deal and it was time 2 buy the dip. Looks like I was right...again.
Today might be the day. We need better breadth though. When I began suggesting this bull phase from the bottom, I predicted a narrow advance and now that it is happening I'm looking for ways to justify it. Broader participation is essential. If the rally doesn't broaden out, if all the strength remains concentrated in the large cap stocks, then odds of the bears regaining control increase dramatically. The August lows are softly calling will the market listen? We have 3 weeks here to figure this out. ~ stoney
3 weeks??? time doesnt matter, a bear market doesnt need 3 weeks to be justified. The bear market awaits, there is no such thing as a bull market that lasts forever.
3 weeks for the rally extension signal! And for the dollar situation to reveal itself. I believe clandestine forces are at work by Paulson and he will attempt his first foray into Rubin land and buy $'s in front of the next economic report they have advance feeling will be strong. The first step in stabilizing the dollar is washing out the speculators then we can try to effect gold down. Psychologically we cannot be two to one in favor of the Euro $1.40 is more like it. If none of this happens in 3 weeks, and the dollar breaks this critical support, I fear. i fear. I fear.