Market hit new high!

[jazz4cash]

Too late!

Remember when the Dow bottomed out at (IIRC?) 6547 on 3/9/2009? Not that long ago, right? And now it's over 5 times that much.

That clip is very very strange. I’ve seen it before and never noticed the singing is AWFUL. Sounds like Alvin and the Chipmunks. What language is that at 1:39 when the lead singer peers directly into camera lens?

 

[Major Tom]

What language is that at 1:39 when the lead singer peers directly into camera lens?

I believe that's Pig Latin. Growing up in England, our family called it back slang, which I only just discovered was incorrect. Back slang is a different form of coded language, in which the words are pronounced phonemically backwards. Apparently, it was used in Victorian England, when sellers used it to converse behind their customer's backs.

 

[Dtail]

I believe that's Pig Latin. Growing up in England, we had a different name for it, which eludes me now.

Pig Latin - another forgotten "language".

 

[Koolau]

Pig Latin - another forgotten "language".

Ah, yes. Igpa Atinla. Big sis and I got pretty good at it back in the day.

Another "kids'" language ("Gibberish") is demonstrated in the movie "Slums of Beverly Hills" with Natasha Lyonne and Marisa Tomei. Kinda cool exchanges between the two - but YMMV.

 

[CardsFan]

Why is it that this tangent brought to mind this:

 

[Koolau]

Why is it that this tangent brought to mind this:

Gotta be my favorite Three Stooges "episode." Saw it at about age 12 or 13. Had to run home from middle school (used to be called Jr. High) to see the show which always featured several Stooges shorts.

 

[CardsFan]

Gotta be my favorite Three Stooges "episode." Saw it at about age 12 or 13. Had to run home from middle school (used to be called Jr. High) to see the show which always featured several Stooges shorts.

Well here is another one, on topic (with the tangent):

 

[audreyh1]

That clip is very very strange. I’ve seen it before and never noticed the singing is AWFUL. Sounds like Alvin and the Chipmunks. What language is that at 1:39 when the lead singer peers directly into camera lens?

Ginger Rogers singing in Pig Latin.

You have to realize that audio recordings were absolutely horrible at the time.

 

[Koolau]

Since we're WAY off topic here, how about the name game by Shirley Ellis.

https://www.lyrics.com/lyric/33986619/The+Name+Game

IIRC within a few weeks of this song coming out, several boys were walking down the halls of the high school singing "Chuck, Chuck, bo buck - followed by wails of laughter. Maybe you had to be there so YMMV.

Now returning you.........

 

[finnski1]

Market may keep making new highs and I know we shouldn't market time but....
Does any body else find this chart a little ominous.
This is the S&P since 1978 or so. Makes the dot com run up look mild.

 

[SecondCor521]

Market may keep making new highs and I know we shouldn't market time but....
Does any body else find this chart a little ominous.
This is the S&P since 1978 or so. Makes the dot com run up look mild.

Not at all.

This is a visual effect related to the fact that the growth in the market is exponential. It makes the right side look steeper and more volatile.

Pick any other random long period (1960 to 1990 for example) and you'll see exactly the same thing.

Or change the Y axis to log. The result should be a (roughly) straight line.

 

[audreyh1]

Market may keep making new highs and I know we shouldn't market time but....
Does any body else find this chart a little ominous.
This is the S&P since 1978 or so. Makes the dot com run up look mild.

Use a log scale instead.

 

[O2Bfree]

Here's the Dow Jones on a log scale, a fairly even climb:

 

[NW-Bound]

Here's the Dow Jones on a log scale, a fairly even climb:

Yes, over 100 years. People do not live that long, particularly retirees.

There were rough patches lasting 20 years or more. That could hurt people no longer in the accumulation phase.

PS. By the way, this chart shows no effect of dividend, nor that of inflation.

 

[finnski1]

Use a log scale instead.

Of course. Brain fart!

Here is a log scale version I found and a non log scale version from the same source. The original graph was from a different source. Definitely looks "better" and less ominous

 

[Koolau]

No expert here, but IIRC the dot.com bubble threw any hint of fundamentals out the window. Most of the high fliers had no earnings so the P/E ratios were meaningless. At least now - though PE ratios seem high, historically - The fundamentals are at least "addressable" (Like: Hey, anyone else think PE ratios are a bit high!?) So, no, Does't bother me too much.

By the way, thanks for getting us back on track with the thread.

 

[O2Bfree]

Highest closing ever!

Dow closes above 35,000 for the first time

https://www.cnn.com/2021/07/23/investing/dow-sp500-stock-market-today/index.html

It's been a turbulent week on Wall Street, starting with a massive selloff over worries about the Delta variant. But by Friday, stocks were back up and each index closed at at record highs.

The Dow closed 0.7%, or 238 points, higher, finishing above 35,000 for the first time ever. The S&P and the Nasdaq both climbed 1%.

I won't say it this time.

 

[W2R]

Dow closes above 35,000 for the first time

https://www.cnn.com/2021/07/23/investing/dow-sp500-stock-market-today/index.html



I won't say it this time.

See? See? Check your balances - - the sum of my investment portfolio and my bank accounts, is the highest EVER and I'll bet the same is true for all of us!!!

I never in a million years would have thought I'd live to see the Dow above 35,000. Totally mind blowing!

 

[Dtail]

See? See? Check your balances - - the sum of my investment portfolio and my bank accounts, is the highest EVER and I'll bet the same is true for all of us!!!

Oh boy, another manic Monday coming.

I told Frank to remove the "W" from your laptop.

 

[JDARNELL]

See? See? Check your balances - - the sum of my investment portfolio and my bank accounts, is the highest EVER and I'll bet the same is true for all of us!!!

Didn’t you do this last Friday and then Monday it went sideways? Lol. Actually I bought on Monday.

 

[Chuckanut]

Time to take more profits, plan another trip and then Blow a More Dough.

 

[CaptTom]

OK, since the market has now been officially "Jinxed," I'll be pulling everything and stuffing it all in my mattress.

Seriously, good points about the logarithmic nature of the market. That actually scares me more than any short-term dips and spikes. It scares me because I suspect you'd see the same thing if you plotted inflation, or more to the point, the cost of living.

The reality, for any of us trying to make our money last as long as we do, is that these things need to be in balance. If they skew in opposite directions, even a little, the cumulative effect could be bad. I'd much prefer to live in a linear world than a logarithmic one. But I've long been a skeptic of the "growth is always good" theory.

 

[audreyh1]

You know, those weekly flashes up and down - I don’t even bother to look anymore!

 

[NW-Bound]

... But I've long been a skeptic of the "growth is always good" theory.

Excessive growth in economy could be harmful, let alone growth in prices of stocks and other assets without growth in fundamentals.

Due mainly to stimulus measures, the U.S. deficit is expected to hit $3 trillion this year; meanwhile, total assets held by the Federal Reserve are on their way to $9 trillion...

According to Morningstar, mutual funds and ETFs saw net inflows of $722 billion in the first six months of the year, the largest semiannual amount going back to 1993. As of the end of 2020, a record $5.4 trillion sat in funds that passively track the S&P 500, Axios reports...

Stocks as a percent of households’ financial assets are above 40% for the first time ever. What’s more, Americans are trading on margin like never before. At the end of June, margin accounts totaled an unheard-of $882 billion, up 50% from just a year earlier...

Thanks in large part to $1,200 stimmy checks, there’s been an explosion in the number of retail investors. Ahead of its initial public offering (IPO), Robinhood reports that it now has as many as 18 million users, up almost double from 2019...

"Buy, buy, buy... On margin if you must. It doesn't matter how you buy, as long as you buy."

It's like the late 90s all over again.

I really need to cut back my stock AA from the current 79%. I am really going to do it this time, I swear.

 

[Chuckanut]

Market highs are often a good place to skim part of next year's withdrawal off the new cream that's risen the top.