and as i check futures up another 3 pts after hours.... the story of this mkt in a nutshell... qcom misses on top and bottom line and guides lower... stock up 9% after hours
There's still too much "cheap" money/credit floating around if interest rate doesn't rise. Let see a) bank rates - 0-1.0<% b) 10 year treasury - 1.36% c) dividend paying stocks est - 3% (JPM) d) commodities - (silver, gold etc) down/stagnant e) cash - 0% real inflation est 4-5%. Mr. Market, your choice please.
i dunno in the past 6 months have things been getting better? bad employment reports, lowered earnings estimates, lowered growth forecast, europe burning, china getting smashed shanghai at 3 yr lows, copper, steel, aluminum, oil, financials all deteriorating... but were at the top of the range looking ready to smash through all time highs... ho hum no big deal we're going up cuz where else are you gonna put ur money! WE GOT YA LOL!!!! Bernanke is laughing somewhere
Hey, man, that's why the saying goes "Bull markets end on good news and bear markets end on bad news" and not the opposite. To take your China example, a few months ago, they were being touted as having managed the financial crisis almost flawlessly and now they are down in the dumps. Clearly their bull market ended on good news and when the news gets bad enough during their bear market, it'll turn back up. You seem to have registered here a while ago, so you've been around the block. You should know this stuff.
+1 Markets move... what is amazing is peoples emotional reaction to these market movements. As traders we desire volatility, market spikes and it's "deer in the headlights".
We are still in a bull market from the last couple of years... and this market keeps going up on bad news so will just be waiting for the good news to end it lol... I know what you're saying but this move up is different than others because bad economic data is good for the market because it puts QE3 back on the table.