Let me clarify a few things for you guys...

Discussion in 'Wall St. News' started by SouthAmerica, Sep 25, 2008.

  1. .
    September 25, 2008

    SouthAmerica: The Dow Jones is up over 200 points I guess the fools on Wall Street are commemorating all the good news.

    By the way, on the old days this type of information was supposed to be bad news for the economy and for company earnings.

    Let me help you guys: The worlds such as plunge, tumbled means that went down

    The other article said: “unemployment benefits jumped last week to their highest level in seven years”

    I know you guys think that everything that goes up or jumped is good – but unemployment jumping to their highest level in this case up and jump does not mean something good.

    On the third article when they said: dropped by a sharper-than-expected – and plummeted...

    These are not words that are supposed to make you bullish on the market.

    I know you guys in Wall Street are a very confused bunch, but trust me these news items are not reason for you guys to become bullish on the stock market.


    New home sales plummet in August, prices tumble
    Associated Press - Thursday September 25, 10:21 am ET
    By Martin Crutsinger, AP Economics Writer

    New home sales plunge in August to slowest pace in 17 years as prices fall by record amount.

    WASHINGTON (AP) -- New home sales tumbled in August to the slowest pace in 17 years, while the average sales price fell by the largest amount on record, demonstrating the depth of the problem that Washington is trying to solve.

    Source: http://biz.yahoo.com/ap/080925/economy.html


    Jobless claims pushed to 7-year high
    Thursday September 25, 10:23 am ET
    By Christopher S. Rugaber, AP Business Writer

    Hurricanes Ike and Gustav and weak economy push jobless claims to 7-year high

    WASHINGTON (AP) -- New claims for unemployment benefits jumped last week to their highest level in seven years due to the impact of a slowing economy and Hurricanes Ike and Gustav, the Labor Department reported Thursday.

    Source: http://biz.yahoo.com/ap/080925/jobless_claims.html


    August durable goods orders down sharply
    Reuters - Thursday September 25, 8:33 am ET

    WASHINGTON (Reuters) - New orders for long-lasting manufactured goods dropped by a sharper-than-expected 4.5 percent in August as demand for transportation equipment and many other costly items plummeted, the Commerce Department said on Thursday.

    Source: http://biz.yahoo.com/rb/080925/business_us_usa_economy_durablesbiz.html

  2. Thanks, I for one was very confused! =)
  3. S2007S


    Markets up on anticipation of the $700B being passed as early as today, I dont think they are going to wait until the weekend, I think its either today or tomorrow. There is just too much bad news to ignore, I would not be surprised to see this rally fade as 4pm nears and talk of the bailout continues.
  4. The market is up because the bulls are experimenting with how to SUSTAIN a rally where they do not get much help from shortcovering.

    Rick Santelli gave an indication what is going on.

    The S&P futures for December are being bought big time.

    I remember back I believe it was 1998 , I think July, when the market went down 500 intraday and all kinds of collars and stuff was going to in effect. They started buying the futures big time and that was given credit for bringing the market back.