Yes. And when everyone gets back in, it'll still be the crazies running the market-- for the short term, anyway.Is it just the crazies running the market now that everybody else has pulled out?
The media is confusion correlation and causation. Personally I think the fact that I did some yardwork today is what really caused the spike.Why would the rumor of an appointment of a Treasury secretary make the market spike 7%?
No worries-- I'm sure that in the next couple of weeks it'll all bleed out again like a leaky innertube.How thin was the trading?
Is it just the crazies running the market now that everybody else has pulled out? Why would the rumor of an appointment of a Treasury secretary make the market spike 7%? It's nonsensical. How thin was the trading?
Not thin at all. And IMO, Timothy Geithner is a very reassuring appointment at Treasury, plenty enough to spark this rally in a market that more than anything by this time keeps going down because it appears that we have a runaway train.
Keep in mind that for all the buyers, there were sellers. Now, were those sellers "capitulated" sellers who didn't sell at the bottom and now as the market was going up, decided to sell, or were they "savy" sellers who saw the market going up and decided to sell into strength? I'm guessing the latter.
How thin was the trading?
Not thin at all. And IMO, Timothy Geithner is a very reassuring appointment at Treasury, plenty enough to spark this rally in a market that more than anything by this time keeps going down because it appears that we have a runaway train.
I wouldn't be surprised if this makes a market that goes up more easily than down, at least for a while.
Ha
Not thin at all. And IMO, Timothy Geithner is a very reassuring appointment at Treasury, plenty enough to spark this rally in a market that more than anything by this time keeps going down because it appears that we have a runaway train.
I wouldn't be surprised if this makes a market that goes up more easily than down, at least for a while.
Ha
From what I've read, the market have have interpreted his appointment as some evidence that Obama will be less protectionist than previously anticipated. Some have speculated that some of the recent weakness in the markets is the lack of clarity about how Obama will govern.
Ha, can you tell us some about him?
Personally I think the fact that I did some yardwork today is what really caused the spike.
Lastly, Geithner's appointment makes it impossible to appoint Larry Summers. He is fine; but at times may be a bit of a loose cannon, which we definitely do not need now. Summers is going to be safely tucked away in the White House, in some sort of "advisory" role.
Ha