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Thread: Wow

  1. #1
    Site Founder And Administrator Steve Williams's Avatar
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    Wow

    Dow was up 490 points today, Nasdaq 105 and S&P 52

    Let's not get too excited as the profit takers will be in tomorrow probably to burp all of the gains made
    Steve Williams
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  2. #2
    Addicted to Best! cjfrbw's Avatar
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    That puts the S&P about where it was 11 or twelve years ago. Factoring in for inflation, it's not even catch up yet.

  3. #3
    11 or 12 years ago? The last blow-out party of the great American consumer economy. That ain't comin' back. You can't have a middle class that has stagnated or lost ground for a decade and still have that. Welcome to the new paradigm.

    Tim
    In high-end audio, you can't even fight an opinion with the facts.

  4. #4
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    I'm amazed the DOW is up at all. I don't believe it can sustain and is due for a big fall.

  5. #5
    Member Sponsor Addicted to Best! jazdoc's Avatar
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    You can drive yourself crazy following the day to day gyrations of the stock market. The father of value investing, Benjamin Graham once said that in the short-term the stock market is a voting machine, while in the long-term it is a weighing machine. "What this basically means is that in the short-term stocks will move irrationally based on news, spin, politics…, but in the long-term stocks will follow fundamentals and reward profits."

    Yesterday market rallied on the news that Western banks are coordinating efforts to print money to support the Euro; an act of 'irrational exuberance' if there ever was one. By any measure, Greece and Italy are insolvent. If they were houses in the Las Vegas suburbs, the owners would drop the keys off at the bank, drive away and start over somewhere else. Much harder to do for a sovereign state. Although based on proposed asset sales, Greece is essentially holding a garage sale of the country formerly known as Greece.

    We are witnessing the Euro's demise and yesterday's actions only postpone the inevitable. The concept was fatally flawed. I share more similarities with other families in my neighborhood than Greece and Germany and I'm not opening joint bank accounts with my neighbors. The idea that US government, the brokest entity in history, is printing money to support the unsustainable Euro and insolvent paper issued by European banks to support their unsustainable societal model seems the height of folly.

  6. #6
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    Yeah,
    I feel there are those trying to eek out a short position before the bad news again that sends the shares crashing once more.
    Still, I used this volatility to make quick cash, although it is so ridiculous which shares are going up in double digit % that a lot of what is happening is nonsensical, well if one did not consider high risk plays at moment.
    After losing several thousands in under one hour and then gaining that back and then some I have decided (well still may chicken out) to go very long on my shares now and not spend energy trying to 2nd guess.
    Smart money would be to sell at time of the euro crash, problem is having time and access to sell the shares and follow the news.

    Some of the smart business/political shows here in the UK cannot see the Euro surviving in its current form, I do not understand why the central banks did not pressure the political elite in europe to split the euro countries into those that are viable and those that are going to get shafted by their bond auction sales and increasing interest rates on short term debt.
    Germany-France must realise this inaction and blocking the ECB means the end of the Euro, and I must admit I find it annoying that outside assistance is now happening (such as use of the central banks) due to their inaction or inability to make the needed decision.

    Still mulling whether I should just sell-up shares nowand wait for the euro crash, wait until it is clearer when/if it happens, or just go long on some strong and also risky companies and ignore what is happening for 2 years (if lucky 18months on the riskier companies).
    Cheers
    Orb

  7. #7
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    So what are others thinking of doing with their shares?
    Cheers
    Orb

  8. #8
    [WBF Founding Member] Gregadd's Avatar
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    According to FOX News(I know) the result of propping up various currencies around the world.
    Be civil to all, sociable to many, familiar with few, friendly to one, and enemy to none.
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  9. #9
    VIP/Donor [WBF Founding Member] es347's Avatar
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    Yessiree that evil Fox News...

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