WooHoo; recession over!!

[TeeRuh]

... [BRIEFING.COM] The market has found a new rally gear in the past half hour, greased by program trading activity that has carried the Dow more than 200 points higher in the last 30 minutes. The S&P and Nasdaq have followed suit,...

t.r.

 

[REWahoo]

I think someone spiked your koolaid...

 

[TeeRuh]

... johny walker!

 

[haha]

Very odd day. When I got up I was down about $15,000-now I'm up about that amount.

Prior to today my stocks were less volatile than the indices- today even very conservative O&G stocks got slammed early on, but have mostly recovered.

Meanwhile financials are on a tear. Wells Fargo up 10% today. If this keeps up WFC will be leaving my port tout de suite!

Ha

 

[lazygood4nothinbum]

i'm going by my previous uninformed assessment and ignoring all of this. now where did i put my tv listings. i got me some cartoons to watch. scooobieeeeee.

 

[poboy]

Happy days are here again,
The skies above are clear again,
So let's sing a song of cheer again,
Happy days are here again.

(I did not realize the last word of each line rhymed so well)

 

[HFWR]

I think someone spiked your koolaid...

You say that like it's a bad thing...

... johny walker!

"And his brothers, Black and Red..."

 

[retiringby50]

Very odd day. When I got up I was down about $15,000-now I'm up about that amount.

Prior to today my stocks were less volatile than the indices- today even very conservative O&G stocks got slammed early on, but have mostly recovered.

Meanwhile financials are on a tear. Wells Fargo up 10% today. If this keeps up this will be leaving my port tout de suite!

Ha

Yeah, I swear it's because I made major mutual fund trades. EVERYTIME I do something, the market goes the way I don't want it to go; today, I just wanted my buy price to be nice and low... and then it can bounce back anytime after today! I made my trade around 12:10 PST, and my friend calls me about 30 minutes later to declare that the market is up. It's just my luck.

 

[REWahoo]

I just wanted my buy price to be nice and low... and then it can bounce back anytime after today!

It would appear thousands of other traders and institutions were thinking exactly the same way. That should make you feel like a pro!

 

[W2R]

Yeah, I swear it's because I made major mutual fund trades. EVERYTIME I do something, the market goes the way I don't want it to go; today, I just wanted my buy price to be nice and low... and then it can bounce back anytime after today! I made my trade around 12:10 PST, and my friend calls me about 30 minutes later to declare that the market is up. It's just my luck.

Thank you for giving the world economy a break!! I know what you mean. My investments go that way sometimes, too.

I tried to buy today too, but was blocked from doing it because the money is being held up for ten days somewhere along the line. Maybe that is just as well.

 

[SecondCor521]

I knew it would close up either today or tomorrow because tomorrow is when my fund purchase is priced, even though I put in the order Monday night when the world was ending.

2Cor521

 

[clifp]

Damn I wasn't finished buying yet. I was waiting for my Pen Fed money to get here Friday. Despite the lovely +2.5% green screen, part of me hopes this was a dead cat rally and prices we'll continue down lower.

Oh well I don't think I am going to regret getting Berkshire B shares a $4327 (below 130K) or BofA @ $30 (assuming the Countrywide merge goes through) or Capital Source at $13 over the next 5 years.

 

[twaddle]

I have no idea where that rally came from, but it happened just as the equity put / call ratio hit the same high back in August. From there, we got about 2 months of gains.

It'd be nice to get a good solid relief rally. C'mon January Effect! Where've you been?

 

[Poundkey]

I'm starting to think my son is the crystal ball I should be watching. He seems to add to his funds at/for no particular time or reason, and almost without fail he gets at least a nice bounce the next day.

He added to total stock index and total international index yesterday. Normally it comes from his MM prime, but this time he transfered money (took profits?) from total bond index. I guess that's a good thing?

He knows very little about investing and doesn't follow the markets....so this (to me) is like a blind man being able to find a black cat in a dark room. Hmmm

 

[FIREd]

what happened y'all?

I leave the house at 1:45 pm with a down market, and I come back 2 hours later with a 300 pts rally for the DOW? What did I miss? China is forgiving our trade deficit or what? Man, I am never leaving the house again!

And check out, VG REIT index is up almost 9% today! OMG, the RE bust is over! We're saved, we're saved! Viva Ben!

Oh wait a minute. It's time to take my chill pill with a tall glass of water. Ah. Let's see now. Nop, fundamentally nothing's changed. Looks like a bear rally to me. They're gonna keep shaking that tree until all the money comes out. Better hold on!

 

[haha]

Looks like a bear rally to me. There's gonna keep shaking that tree until all the money comes out. Better hold on!

Agree, especially since the rally was strongest in heavily shorted sectors. But like the good little speculators that we are, we want to hang around to cash out just before the deluge, no? Let's not leave much coin for the bagholders.

Ha

 

[HFWR]

[-]Market-timed[/-] Reallocated this morning; looked like a fool...

Come afternoon, and vy-oh-luh!, genius...

Undoubtedly short-lived...

Pass the dramamine...........

 

[REWahoo]

Undoubtedly short-lived...

Pass the dramamine...........

Isn't it amazing how high a dead cat can bounce?

 

[HFWR]

Isn't it amazing how high a dead cat can bounce?

"We were up in heaven, but now we're in the mud.
We fell off the wagon, you should have heard the thud..."

LWIII

 

[retiringby50]

To those who responded, thanks for the laughs. Yeah, things will get better, I'm sure.

 

[clifp]

what happened y'all?


Oh wait a minute. It's time to take my chill pill with a tall glass of water. Ah. Let's see now. Nop, fundamentally nothing's changed. Looks like a bear rally to me. They're gonna keep shaking that tree until all the money comes out. Better hold on!

You certainly maybe right that is a bear rally. However, you are wrong about it not changing things fundamentally.

A .75 Basis point cut has dropped the cost of goods for every bank in America by 16% (4.25-3.5). Banks can either keep the difference and increase profit margin (net interest) or lower rates and encourage borrowing, either result as good as long as the avoid loaning lots of money to people with lousy credits at very low rates. Judging from some the post around here banks seem to be a lot more careful about lending.

It is equivalent of OPEC announcing that tomorrow the price of oil will drop from $90 to $75/barrel, and Airbus and Boeing both annoouncing a buy 5 jets get 1 free promotion. This may not change the fundamental structural problems of the airlines, but for the short and intermediate term it is really good for their profits.

 

[barbarus]

It is equivalent of OPEC announcing that tomorrow the price of oil will drop from $90 to $75/barrel, and Airbus and Boeing both annoouncing a buy 5 jets get 1 free promotion. This may not change the fundamental structural problems of the airlines, but for the short and intermediate term it is really good for their profits.

A drop in crude prices would be of great benefit to our economy. These Fed cuts are going to be disastrous for all but a few powerful institutions.

 

[clifp]

A drop in crude prices would be of great benefit to our economy. These Fed cuts are going to be disastrous for all but a few powerful institutions.

Why?

 

[FIREd]

You certainly maybe right that is a bear rally. However, you are wrong about it not changing things fundamentally.

I don't understand. Are you saying that today's rally has fundamentally changed anything? What did that rally change, please enlighten me.

You obviously know better than I do.

 

[clifp]

No the rally didn't change anything the rate cut did, I guess I wasn't clear. The rate cut has fundamentally increased the short and intermediate profitable of banks, who are the most trouble sectored of the economy. The rate cut caused the rally that is all I am saying, I think you were implying that the rally was irrational.