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No more news for 2008?
Old 12-19-2008, 03:35 PM   #1
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No more news for 2008?

I've been a bad boy practically day-trading VTI in the last two weeks with 4 very profitable round-trips.

With the Fed interest rate cut this week and the Detroit bailout revealed, is there anything that can appear the next 10 days that will give any kind of positive boost to the stock market?

I'm thinking no, there is nothing more for 2008. This means that the markets will meander lower at least until 2009 rolls around, but who knows what will happen next.

What do you think? Are you expecting any news to make the market pop?
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Old 12-19-2008, 03:42 PM   #2
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Santa Claus's sleigh gets forced down by NORAD. He gets shipped off to Gitmo by Homeland Security and Christmas gets canceled. Kids around the world riot.
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Old 12-19-2008, 03:45 PM   #3
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Has that Somali pirates take over cruise liner story broken yet?
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Old 12-19-2008, 04:13 PM   #4
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Folks, those are cute news stories, but I don't see them as making the market pop.
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Old 12-19-2008, 04:23 PM   #5
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What usually makes the market pop is something completely unexpected.
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Old 12-19-2008, 04:31 PM   #6
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All of the Wall Street CEO's donate their bonus to the Madoff rip-off charity being started by Millken.
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Old 12-19-2008, 04:37 PM   #7
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Quote:
Originally Posted by crazy connie View Post
All of the Wall Street CEO's donate their bonus to the Madoff rip-off charity being started by Millken.
That really would be crazy, connie...
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Old 12-19-2008, 04:44 PM   #8
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Originally Posted by REWahoo View Post
What usually makes the market pop is something completely unexpected.
While that may be true, if you look back at the expected Fed moves for all of this year, they were telegraphed extremely well and in each and every case, the market popped. So this week's Fed move was just another case of making a risk-free 3-5% in one day.

The auto bailout was also expected news this week, but was less of a pop -- the market was up 2% today after that news broke. Since it appeared that no one really like the auto bailout proposal, the pop didn't last long, but there was also plenty of time to sell earlier in the day.

Anyways, I don't see any bailout or lowering of interest rates happening again for awhile. I don't see any earnings announcement that will be unexpectedly positive. I think I am going to go crawl into a hole with my winnings and come back out around Groundhog Day.
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Old 12-19-2008, 05:22 PM   #9
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On the substance of your question. I have no idea, but I think that it is very unlikely we will here any good news between now and the end of the year. The possible exception is Retailer XYZ reports that Xmas sales were flat,which would help the market.

I am more than a bit nervous that an unexpected ponzi scheme, rogue trader, margin call... will cause another failure of major institution. On the other hand I also think the market is pricing in a meteor hitting NYC.
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Old 12-20-2008, 10:47 AM   #10
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I think I am going to go crawl into a hole with my winnings and come back out around Groundhog Day.
.. may be a couple of days before that day (whenever it may be ..)
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Old 12-20-2008, 06:53 PM   #11
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Imho ...

... California will declare bankruptcy in mid-spring, 2009.

That will pop some markets.
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Old 12-20-2008, 06:57 PM   #12
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An article on Reuters a day or two ago predicted a "Santa Claus" rally, mostly, I think, on the (dubious) logic that it's often a good time of year for the market, prices are relatively low, and some people are now bargain hunting.
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