Dow up 400+ Talk about crazy days.

[GregLee]

It's crazy - - unemployment is out of sight, people are rioting all over the world, national debts are spiraling upwards, economies are said to be teetering on the brink of collapse, and yet the S&P 500 Extends Best Month Since ’74, Euro Rises

Perhaps it's easier to understand if you consider that there is money around looking for a home. It has to light somewhere. What matters is not how much unemployment there is, but where there is the least unemployment. Where are there the fewest riots? Where are national debts least out of control? Which economies are least likely to collapse?

 

[Eder]

It was already down over 60 points to 340 before the market closed...

That was me....sorry about that

 

[FUEGO]

Man, I wish we could see 2008/2009 bear markets again. What a buying opportunity! Even a May 2010 flash crash would be awesome. This going up 400 points in a day isn't helping my dollar cost averaging and attempt to buy low. I mean, making half a year's salary in a day is cool and all, but I like buying stuff on the cheap.

 

[Coolius]

My portfolio hardly moved today. My preferred shares and REITs got a little boost, but mostly by less than 1%.

On the other hand, if ( when ) the correction occurs, my portfolio will not decline as quickly.

Suits me fine, as at my age I'm more concerned with capital preservation, so as long as I have my dividend and bond income, I am OK.

Doing OK with some naked puts, however. May buy to close and take profit next week if this market rise continues tomorrow.

 

[JOHNNIE36]

It's crazy - - unemployment is out of sight, people are rioting all over the world, national debts are spiraling upwards, economies are said to be teetering on the brink of collapse, and yet the S&P 500 Extends Best Month Since ’74, Euro Rises

W2R, nobody ever said the market was based on logic. If it was, we'd all be flying high. As you said it's crazy. That's why I'm not in it anymore. I sleep so good at night.

 

[Hamlet]

I am going to make a wild prediction--

DOW 20000 by the end of 2015.

Housing will turn around by then and we will see the economy running on all cylinders.

Still plenty of room to run. Patience, grasshopper.

 

[haha]

I am going to make a wild prediction--

DOW 20000 by the end of 2015.

Housing will turn around by then and we will see the economy running on all cylinders.

Is this a whee?

 

[W2R]

I am going to make a wild prediction--

DOW 20000 by the end of 2015.

Housing will turn around by then and we will see the economy running on all cylinders.

You do realize that in 2015, we will all remind you of this prediction?

 

[justplainbll]

See? I just *knew* it would go down.

The DAX and FTSE are maginally lower today at mid day.

 

[W2R]

The DAX and FTSE are maginally lower today at mid day.

Well, we shall see. I can hardly wait until the US markets open. Even though I'm pretty much a buy-hold-rebalance type, I still think it's exciting to watch and try to guess what will happen next.

 

[teejayevans]

For entertainment purposes I listen to various money mgrs on the radio, two weeks ago all 3 said their market indicators are showing the market will be dropping and they all recommend getting out and buying on the dips. Apparently there were hammer bottoms and this is the start of an ABC or Elliot wave which is causing 200 day moving averages converging on the Fourier transform derivative.
So lets see if I got this right: If I was a client I would have just missed out on a 20% upswing PLUS you are charging 1.5%/year??
TJ

 

[Hamlet]

Yup. The internet is forever.

You do realize that in 2015, we will all remind you of this prediction?

 

[brewer12345]

I am going to make a wild prediction--

DOW 20000 by the end of 2015.

Housing will turn around by then and we will see the economy running on all cylinders.

Dunno about the Dow prediction, but I have thought for some time that it would take until 2013 to 2015 for housing to work through its mess and the economy to regain full footing.

 

[Lsbcal]

As of yesterday the SP500 is up 10.7% for the last 1 year period. About in line with historical annual returns of 10.2% going back to 1950.

We have problems all over, but humans haven't changed that much in the last decade.

I vote for a much higher SP500 in the next 12 months -- well at least 10.2% higher.

 

[haha]

For entertainment purposes I listen to various money mgrs on the radio, two weeks ago all 3 said their market indicators are showing the market will be dropping and they all recommend getting out and buying on the dips.
TJ

Yesterday I was siting ouside on the west side of an espresso shop enjoying the sun. There was a homeless guy sitting at a table next to me with an old fashioned boom box.

He was listening to some market/finance guru.

Ha

 

[brewer12345]

Yesterday I was siting ouside on the west side of an espresso shop enjoying the sun. There was a homeless guy sitting at a table next to me with an old fashioned boom box.

He was listening to some market/finance guru.

Ha

Let us know when he starts offering you stock tips so we can sell/short.

 

[Bestwifeever]

Maybe he's a financial advisor?

 

[Lsbcal]

Yesterday I was siting ouside on the west side of an espresso shop enjoying the sun. There was a homeless guy sitting at a table next to me with an old fashioned boom box.

He was listening to some market/finance guru.

Ha

Could be a rich hoarder -- one of those 1% guys, you never really know.

 

[haha]

Could be a rich hoarder -- one of those 1% guys, you never really know.

You are right, I remember reading about some old guy about 20 years ago who was working in a dry cleaning shop and living in a room more of less under the GW bridge aproach, on the NY side. When he died he was worth $5 million.

I should not judge a book by its cover, or the depth of a well by the length of the handle on its pump.

Ha

 

[GregLee]

The rally in stocks is due to the failure of bonds to be a better investment, or at least that is my best attempt to translate from marketspeak a conclusion of Michael Gayed's article The "Fall Melt-Up" Rally is On, where he brags about predicting the rally back on Oct. 3.

 

[Hamlet]

Yeah, I don't really know about the Dow prediction either

I do think that we will eventually have to start building houses again, and that will be a very good thing for a lot of people.

Dunno about the Dow prediction, but I have thought for some time that it would take until 2013 to 2015 for housing to work through its mess and the economy to regain full footing.

 

[clifp]

Dunno about the Dow prediction, but I have thought for some time that it would take until 2013 to 2015 for housing to work through its mess and the economy to regain full footing.

2013, if politicians stop helping the housing market. 2015, if they continue making dumb proposals.

 

[arebelspy]

2013, if politicians stop helping the housing market. 2015, if they continue making dumb proposals.

There's too much shadow inventory, not to mention baby boomers retiring and selling to downsize. I'd push the former back by at least a year, and the latter by two. But your point is well taken, the interventions to improve the housing market will only kick the can down the road and prolong the recovery.

 

[NYEXPAT]

You do realize that in 2015, we will all remind you of this prediction?

In that case, put me down for S&P 500 below 600 by May 15, 2012!

 

[ripper1]

Well, we shall see. I can hardly wait until the US markets open. Even though I'm pretty much a buy-hold-rebalance type, I still think it's exciting to watch and try to guess what will happen next.

Ah, yes, buy-hold-rebalance and don't forget to enjoy those dividends.