New closing records?

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Blue Collar Guy

Thinks s/he gets paid by the post
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I dont want my post to be the kiss of death to this late day rally. But Ill take a chance. If in the next 25 minutes the rally collapses Ill take the blame. If on the other hand if it continues to end at a record, I would like some of the credit. I was cheering aloud when i was flipping the channels and saw the green arrows.
 
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Blue Collar Guy said:
I dont want my post to be the kiss of death to this late day rally. But Ill take a chance. If in the next 25 minutes the rally collapses Ill take the blame.
Click to expand...

Well, the Dow is only up 105 points. Guess I won't start looking at high end status symbols to waste my money on, quite yet... :D


Edited to add: OK, 121 points by now. Hmmm!!! :dance:
 
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So, does this mean it's time to go crazy and BUY BUY BUY?

Because if it's going up now it's likely to keep going up, right?


Right?
 
Damn it BCG! Back to the salt mines... :D
 

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The real estate markets also seem to be on fire everywhere I look. With all the irrational exuberance and people awash in paper market profits, it must be time to sell some real estate to the newly flush, with cash falling out of their pockets. Then I can stuff all that worthless cash under the mattress for the next market collapse.
 
Sept is always the month to watch out for, then Oct, but in general Dec is always a very good month.
 
Reminds me that wrapped around every silver lining is a dark cloud. :D
 
I don't get this obsession with new highs. Just about everyone who invests in equities expects prices to be higher in the future, and the greater the time horizon, the higher the price. That means continuous new highs. Seems to me that the lack of new highs is more notable and newsworthy.
 
MichaelB said:
I don't get this obsession with new highs. Just about everyone who invests in equities expects prices to be higher in the future, and the greater the time horizon, the higher the price. That means continuous new highs. Seems to me that the lack of new highs is more notable and newsworthy.
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I like positive financial news, takes me away for a moment from some of the negative in my life. I wanted to spread a little cheer. Seems on another thread today, someone became a millionaire and to that joy Im going to long distance toast to his accomplishment. On days that the market tanks and someone is on the roof getting ready to jump, I wont be toasting to that, Ill try to talk them down.
 
I noticed Fuego mentioned he may take a year or two living expenses out of equities and into bonds. SOunds like a safe play right about now. YMMV
 
Another Reader said:
The real estate markets also seem to be on fire everywhere I look. With all the irrational exuberance and people awash in paper market profits, it must be time to sell some real estate to the newly flush, with cash falling out of their pockets. Then I can stuff all that worthless cash under the mattress for the next market collapse.
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But there are still places where real estate is cheap Detroit, Flint, Eureka,NV and Austin NV (places that still have some population) let alone in ghost towns.
 
In spite of the new record close, investor sentiment is fairly weak. That suggests things are still OK. Daddy needs a new pair of shoes!
 
MichaelB said:
I don't get this obsession with new highs. Just about everyone who invests in equities expects prices to be higher in the future, and the greater the time horizon, the higher the price. That means continuous new highs. Seems to me that the lack of new highs is more notable and newsworthy.
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+1

I recall, years ago, my co-workers were going on and on about a streak of new market highs. I was ho-hum, we expect the market to go up on average, if it were not for volatility, we would have a new high every single day.

I got a reply that reminded me of the scene from "This is Spinal Tap"... "but, these go to eleven!".

"But, the market hit a new high!" :nonono:

-ERD50
 
MichaelB said:
I don't get this obsession with new highs. Just about everyone who invests in equities expects prices to be higher in the future, and the greater the time horizon, the higher the price. That means continuous new highs. Seems to me that the lack of new highs is more notable and newsworthy.
Click to expand...

But they are such fun! :D
 
I understand the excitement for new highs, I don't want complacency. I just read from WSJ that if you invest in VWO, emerging markets for $1000 in 2007, you basically just got your $1000 back, that's assume you re-invest your dividends.
Yes, that's 10 year in dead space. I'm sure you can find similar perio for US stocks.
 
Per Dan Wiener, the S&P 500 has hit over 50 all-time highs in the past two years, and including dividends over 208 record highs since the '09 market bottom. Generally, the market is up 2/3 of the time, so there are always new highs.

Seems to be a non-event to me.

That doesn't mean I don't think stock and bond valuations are high (I do), it is just that the financial press's fixation on new highs is just noise.
 
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