I dont know, but thats what they always say every time the market bounces... and then it manages to resume its downtrend.
Yes, Dow to 50,000 because the Fed has now removed all risk of holding common stock from the market Seriously, I think there will be a little rally to 12,800 or 12,900. Maybe even to 13,000 to touch the 200-day average.
I would have to agree, I started to slowly add some proshare inverse funds...will be adding DXD hopefully above 12,500, looking for an early rally then some selling tomorrow.
this 420 points was in prep. for quadruple bitching on Thursday everybody is headed for Holiday tomorrow citi-tank is next and sure, funds will try to gun this junk prior to the end of the quarter remember the last 400 point rally? didn't last
Perma bears defiantly cling to the same tree..nothing changes till they are completely defeated and run over with.. and that will happen..they are out of ammo here.
No. Think about this - Goldman was up $25 today, as it reported profits that shrank 53% from a year ago quarter. Their business will continue to shrink, now that investment banking, consulting, selling CDOs and underwriting IPOs are all dwindling aspects of their revenue flow. What will take up the slack? The U.S. economy is on the edge of recession, if not there yet, and the consumer is slowing as evidenced by rising credit delinquencies. Manufacturing is slowing dramatically, and inflation is sizzling. Housing is still in free fall in many parts of the country. The U.S. dollar doesn't buy nearly what it used to, either. Job growth is also anemic, when there's any job growth at all. Government deficit spending is way beyond out of control. And our trade imbalance is laughable and unsustainable. None of the above is fiction. It's reality. Are there positives? Sure. Some. U.S. exports have gotten cheaper. The changes underlying the economy today are real, are mostly adverse, and the rally today was more a gasp of hope and optimism and denial than anything else. It was also a lot of short covering. Cheers.