40TH RECORD CLOSING SINCE OCTOBER 2006. KEEP BUYING.... Tomorrow the dow goes for record breaker 41..... dont sell, only buy.
In a seeming paradox, we have a rapidly accelerating market, and a rapidly decelerating economy. Hopes for a rate cut in the face of this asset inflation are pushed out further and further into the future. This is now a trading market, where momentum and trend dominate, increasingly detached from the decaying domestic fundamentals. Global growth remains strong, and despite that â or perhaps because of it â U.S. markets are lagging their overseas peers. How much further this market can rally is anyoneâs guess, but a âMelt-Upâ to Dow 14,000 would not surprise us. While overdue for a pullback, the markets have shown little interest in any such activity. Instead, traders seem to want to rally âem on any news, good or bad. A melt up would likely be accompanied by a rush back into equities by the one group notably absent from the current action: the public. As the trading volumes at the major online brokers have revealed, John Q. Public is nowhere to be found in the current market. We suspect that the aforementioned rush back in would be accompanied by a significant spike in Bullish sentiment. Until that excessive Bullish sentiment develops, it is not safe to trade on the short side of the market. Meanwhile, a âmelt upâ presents a high risk trading, not investing, opportunity. A melt up inflates the air pocket that has already developed underneath the present environment; only the most nimble traders are capable of avoiding the ensuing danger.
Posting as much "play-by-play" as you do on ET I have no idea if you actually trade, but you certainly are pretty good at "cut and pasting". Perhaps you should give journalistic credit to whoever you just plagerized. Or are you looking for ET to get sued for copyright infringement?
Poll: Dow not likely to go much higher this year The Business Journal of the Greater Triad Area - 9:50 AM EDT Wednesday, May 2, 2007 On May 1, the Dow Jones Industrial Average closed at a record 13136.14, marking the 22nd time in the past 25 trading sessions that it had gained ground. Despite the impressive run being put together by the DJIA, many of those responding to the Business Journal's most recent online poll don't expect the market to go much higher this year. A total of 48 percent of those who responded to the question, "Where do you think the Dow will finish this year?," chose the answer "around 13,000, where it is now." But, emboldened by the DJIA's current success, 33 percent of the respondents think it will top 14000 by the end of the year. Only 18 percent expect any significant correction; they predicted the DJIA will drop below 12000 by year's end. The poll, which ran from April 25-May 1, had 141 responses. A sampling of voter comments, which were made anonymously, are included below. "With all the bad news, Iraq, GM, auto manufacturers, etc., I am astonished that (the) market continues to rise. At some point it has got to come down. It is artificially high." "Unless the stock market becomes worthless, inflation will push the average up." "Inflation is rearing its ugly head. ... Look out." "Too many 'what ifs' out there to say up or down. Any of them could tilt the market in a big way."
It's good to know we can rely on markets that give us roughly 1-1.2% a week in profits when holding just index ETFs or futures overnight. And all that totally risk free! Why on earth put money into a CD and earn a bare 5% annually is beyond me