Even Cramer can't stop this rally. If Cramer, stock_trad3r, marketsurfer and shortie all said it was going up until the end of days, they might just be right with Banana Ben on their side.
Fed is worried about the stock market bubble in the making, no doubt about that. For now they are trying to talk the market down (and it is not working). Soon they gonna slam the breaks. Fed's Lacker Says Moderate US Economic Growth Likely in 2010 BusinessWeek - Scott Lanman, Joshua Zumbrun - ‎11 hours ago‎ Bernanke Sees 'Moderate' Growth Amid 'Restraints' BusinessWeek - Craig Torres - ‎1 hour ago‎
Neither of those comments suggest the Fed is concerned about any stock market bubble. I read Lacker's comments, and am watching Banana Ben. I suppose you can read into whatever you want, but at the end of the day, the market still goes up. Sorry.
Not even close to worrying about any type of bubble, if they were they would have raised rates months ago, the bubble fears will come well after the fact it has popped.
This is a good run we're having in the market, but it is built on bailout/government money. That's what keeps me cautious. Saw this from Gluskin Sheff this a.m. -- "Weâve said it once and weâll say it again that the last time the major market averages were surging to the levels we are at today, corporate earnings in the hands of the investor â not some bullish consensus estimate for the coming year â were about 20% higher than is the case today. Momentum may carry the market onward and upward but it makes no sense to us to play a game where there is so much fluff underneath the surface â that the VIX managed to test the 15.32x level yesterday shows that the market has somehow gone back to same level of complacency prevailing in July 2007." Champ
*OIL 86.04 1.99 +2.37% Oil breaking out again, if it wasn't for the 5 days of downside oil would be well above $90 a barrel now, I'm already paying $3.00+ at the pump and loving every minute of it, thanks bubble ben.
What would a day be like without 3 worthless companies all trading higher Symbol Last Trade Change Volume Related Info Intraday FRE 1:17pm ET 1.60 Up 0.13 Up 9.25% 20,321,893 Chart, Messages, Key Stats, more... FNM 1:17pm ET 1.31 Up 0.13 Up 11.02% 50,057,003 Chart, Messages, Key Stats, more... C 1:17pm ET 4.87 Up 0.25 Up 5.47% 619,675,081 Chart, Messages, Key Stats, more... Damn this game gets better and better by the damn second.
Fed's Beige Book: Economy Improving in Nearly Every US Region This should lead to more upside into the close.
*Started selling my inverse ETFS, no worth fighting anymore, dow 11k is here and im sure within the next few weeks it will be nearing 12k, after seeing the continuous run higher and reading into INTC, CSX earnings and noticing the feds beige book a few moments ago its not worth it any more, earnings are going to continue to come in very strong with 75-80% of companies beating and probably guiding higher, at this rate the markets could easily put in another 10% gain by June. It was a long road but I'm out for now, no use fighting the manipulation anymore, it has become a game at this point that isnt worth playing anymore.
Wow, what a day! It's a good thing I deleted Rowschan's (the latest incarnation of) latest wrong thread about how we'd see a pullback!