The Economy Makes Drudgereport

Discussion in 'Economics' started by Trader5287, Dec 1, 2003.

  1. 12/01/03:

    "Stocks Jump; S&P 500 Hits 18-Month High

    Factories Hum, Construction Booms

    Manufacturers hit 20-year record pace"

    What the heck is going on with all these record numbers? I don't remember waves of good news like this in past moves out of recessions or presidential election races.

    There's 20,300 Elitetrader Members. Can any of you explain this or at least give me some anecdotal evidence to back up these government news blasts.

    I don't see limos out in the street in front of my place yet. Do you?

  2. Typo there. Surely you meant to address the 2,300 actual ET members.
  3. Uhmm..

    Perhaps they forgot to add something else: the US dollar crashed and burned.

  4. And USA has found another Vietnam.
  5. vak


    courtesy of the current low rates and low dollar environement , as long as this paradisiac environement is there
    there's no problem beating records,
  6. Paradisiac environement? Maybe, but how long will the rest of the world continue to buy US bonds?
  7. vak


    barush you just put your finger on the problem ;-)
  8. cable


    There are rumors that the government is behind the stock market boom of late -- they have been buying massive amounts of shares in the NYSE and Nasdaq in order to prop up the market and 'prime the pump' and get others buying. Mind you, that's just a rumor (from an insider friend of mine, but still a rumor).

    But that's what I'd do, even though I'd have to 'cook the books' to keep it off the record by borrowing funds from social security or the CIA's drug money or whatever. There *IS* an election coming up, and the economy has to be booming if Bush wants to get re-elected.

    I don't see a lot of legitimate improvements in the economy around here, either. Certainly not "record" levels of growth.... but if you question the official government-approved numbers you'll probably be hanged as a terrorist, so just go with the flow and make some money off it. The trend is your friend. Just don't get caught napping, or they'll hang your ass in the breeze.
  9. Agreed.

    Dow "needs" to close above 10k for at least one day, preferably Friday, so it can be celebrated across most if not all the news services. Public needs to get going what ever has left into this, including end of year bonuses 401k contributions if any. End of year window dressing is a must for fundies. Statements coming out early 2004 "must" provide a good feeling about things going well.

    After that? Who knows... The wild card is presidential election year. How much "effort" will be put into keeping mkts high only time will tell. However; there is always a limit on how far a system can be pushed before the feedback loop forces a counter reaction.

  10. adonos


    If they did want to intervene and move the markets higher, wouldnt it make more sense to do this by buying S&P futures?

    I am still a new trader, and am trying my best to understand the complicated market dynamic, but I have always thought that if you to intervene one way or the other, you did it in the futures pits.
    #10     Dec 4, 2003