Big Up Day So Far

[TromboneAl]

 

[ziggy29]

Good day for equities. Terrible day for inflation plays. I think the market is grossly underestimating the inflationary potential of the massively increased debt and money supply that will result from central banks cranking up the printing presses.

I'm actually increasing my allocation to gold miners and TIPS today, carved out of my overweight Treasury and cash positions. They are getting brutalized. If you don't drink the deflation Kool-Aid, TIPS are a screaming buy here.

Unfortunately, I planned to rebalance my stock allocation, too -- hate to do that today, but if this is the start of a serious oversold rally, maybe I should rebalance halfway.

 

[Dawg52]

My 5 day rebound plan is unfolding.

 

[LOL!]

Methinks someone is trying to jinx things.

 

[socca]

The latest value of the DOW is just brain gunk that distracts Americans from other more fundamental measures of economic and societal health that are much more important in the long run.

Massive borrowing can certainly create the illusion of prosperity. If we can collectively maintain the illusion until the day I die, should I really give a damn whether future generations will have to deal with ugly reality? It depends, I suppose, upon whether I can stand to look myself in the mirror in the morning.

 

[kat]

I am thinking about selling an equivalent to the modest $10,000 I put into the market at good buys last week, calculating my modest profit and doing something joyful with it.

I don't usually think this way. I was fully invested and put that $10,000 in as my last bit to put in.

There's just something about these times that makes me sometimes want a good, solid experience to come from my virtual money. Depending on the amount, it could fund sharing a rum cake from the best bakery with good friends, or heading down to NYC to see some things.

Kate

 

[Notmuchlonger]

Going to be a huge sell off at the end of the day.

 

[ziggy29]

Going to be a huge sell off at the end of the day.

Well, as someone who still needs to finish rebalancing after all the recent carnage, I can see that as a glass-half-full event.

 

[kat]

I am thinking about selling an equivalent to the modest $10,000 I put into the market at good buys last week, calculating my modest profit and doing something joyful with it.

I don't usually think this way. I was fully invested and put that $10,000 in as my last bit to put in.

There's just something about these times that makes me sometimes want a good, solid experience to come from my virtual money. Depending on the amount, it could fund sharing a rum cake from the best bakery with good friends, or heading down to NYC to see some things.

Kate

Well, I did it. I sold a small number of shares of what I purchased last week. Never did it like this before, though I've heard stories of people who do. I suspect it will fund a nice cake from the bakery, but if it's enough I'll take a trip to NYC to spend time with a blind friend who always knows what to see.

Kate

 

[ziggy29]

Going to be a huge sell off at the end of the day.

Dow +760 with 15 minutes to go.

 

[W2R]

Up 826 points and less than 7 minutes to go!!!

 

[Notmuchlonger]

You can all thank me for this rally.

 

[REWahoo]

Going to be a huge sell off at the end of the day.

Don't give up your day job...

 

[CompoundInterestFan]

The latest value of the DOW is just brain gunk that distracts Americans from other more fundamental measures of economic and societal health that are much more important in the long run.

I agree. Sometimes it seems that people treat the DOW as if its a representation of the entirety of the US economy. Yay, the DOW's up for the day, all our problems are solved!

 

[Notmuchlonger]

Don't give up your day job...

What job?

Oh and tomorrow we will have another big rally.

 

[Dawg52]

Going to be a huge sell off at the end of the day.

I hope you didn't short the market this afternoon. My 5 day plan is looking good.

 

[W2R]

Looks like almost 1000 points at closing!!! We need an emoticon of throwing confetti.

 

[ziggy29]

I agree. Sometimes it seems that people treat the DOW as if its a representation of the entirety of the US economy. Yay, the DOW's up for the day, all our problems are solved!

Obviously that's not the case -- but let's face it, mentality and sentiment play a role in just how far back consumers and investors pull back. And the more they retrench, the worse it could get.

So while one nearly 950ish-point gain on the Dow and 105 point run on the S&P hardly mean we're saved, I think every bit of positive sentiment the markets and the economy can salvage is a little bit less the coming economic weakness will bite into us. Sentiment goes a long way into influencing consumer and investor behavior.

 

[Notmuchlonger]

I hope you didn't short the market this afternoon. My 5 day plan is looking good.

No I buy and hold. Pretty boring stuff.

 

[REWahoo]

Looks like almost 1000 points at closing!!! We need an emoticon of throwing confetti.

 

[FinanceDude]

Wonder how all the folks who sold last week are feeling........

 

[ziggy29]

The markets are looking, shall we say, a bit less undervalued today.

 

[REWahoo]

Wonder how all the folks who sold last week are feeling........

I'd guess the folks who sold last Monday are feeling a bit better than those who sold on Friday...

 

[ziggy29]

I'd guess the folks who sold last Monday are feeling a bit better than those who sold on Friday...

But not as good as the people who sold last Monday and bought on Friday.

 

[Dawg52]

Hey, beer works well when celebrating too.