Aghh **** it I bungled this prediction. I'm gonna be getting lunch soon anyway. Anyway, the dow is still 80 points off the lows and we have about 2.5 hours of trading left. The buyers could easily jam this market up 200 points in the last hours of trading. It happns quite often. i'm not scared whatsoever. I feel pretty good right now. You cant tell me something is wrong with the economy when it isn;t. You cant tell me there are problems when there arent any.
Please, by all means, argue your case for the economy being strong. I am curious to know what you see as opposed to what I and many others here see.
Last week I went to a deli and it was packed with people buying $7 sandwiches. The burger king is packed. The colleges are packed with students-each of them with credit cards and those students are maxin; them out. We have a huge bush tax rebate coming. There is huge globalist spending. exports are up. the dow has added about 50 points in the past 15 minutes. There is HUGE support in the 11900-12000 range. Whaaa? where are the problems? Pleeeaasse help me find them.
Yup. Agreed. It's a known fact that college students with maxed-out $500 credit cards and deli sandwich sales are leading indicators. The fed should really touch on these statistics in their minutes. I can see it now: Banks write off another $30 billion in losses. Market being pulled up by strong deli-sandwich sales, which shot up 30%. Dow at 15K.
The dow should be off 500+ on this kind of BSC news.... Without the fed stepping in everytime the market dropped 300 points the DOW would be sitting nicely under 11k.
Fed has lost any credibility and so has Bush. Whatever they had left. Paulson spoke yesterday, Bush and Bernanke spoke today. Blah, blah blah. It's going to be absolutely ugly and the trains are about to collide. As Krugman pointed out so brilliantly today, the fed doesn't even have enough $$$ to keep propping up weak players. The blew a 200bn load yesterday, have about 400bn left, before they are insolvent. Good luck bulls.
Did you honestly lead out with deli sandwiches and college kids CC as your first arguement towards a bullish economy? and did you also list a minor mkt fluctuation like 50 dow pts, as another reason? Thank you for your honesty and let me just tell you in the nicest way possible: you need to better educate yourself as to what is currently unfolding in the US, its seriously troublesome.
Agree, they ran in too QUICK, which many will disagree with me, as jim rogers said, it is costing more money to keep the US out of Recession, which is totally true, they have thrown EVERYTHING at this market, they have lost soo much credibility its not even funny.
a 75 or even God forbid 100bp cut on tuesday will put the dagger through the heart of this market. as for my earlier post, I am going to refrain from answering any posts with the words "werd" "deli sales" (a $7.00 lunch is expensive?) "web 2.0" "smarties" or "facebook is the new world order". Also anything day7793 or his new handle posts!