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Wall Street close watch

  • #441
  • Apr 1, 2008 9:49am Apr 1, 2008 9:49am
Hm... So manufacturing is still contracting (although not as badly as we thought) and prices have skyrocketed. How exactly is this dollar AND equities positive?
  • #442
  • Apr 1, 2008 10:41am Apr 1, 2008 10:41am
Quoting fierceman
Hm... So manufacturing is still contracting (although not as badly as we thought) and prices have skyrocketed. How exactly is this dollar AND equities positive?


Ah, see, NOW we're getting the interesting questions
Trust price. Know yourself.
  • #443
  • Apr 1, 2008 10:49am Apr 1, 2008 10:49am
They are not positive. What is - is the market is going up. WhyTF does anyone care why. Markets going up, go long and vice versa.
  • #444
  • Apr 1, 2008 11:12am Apr 1, 2008 11:12am
The reason I care why is that irrational knee-jerk reactions tend to turn around very quickly, whereas logical market reactions are more likely to be sustained for a tradeable period of time (tradeable for me that is, since I rarely day trade).
  • #445
  • Apr 1, 2008 11:44am Apr 1, 2008 11:44am
Understand, but the markets can be irrational for long periods of time these days.
  • #446
  • Apr 1, 2008 12:38pm Apr 1, 2008 12:38pm
Quoting SunTrader
They are not positive. What is - is the market is going up. WhyTF does anyone care why. Markets going up, go long and vice versa.
You got it right as what makes sense does no longer. Welcome to the new market where many jump in and out several times a day. Up 300 today down 300 tomorrow. This has been going on for a good while and I think it will continue... Might be a lot of cash sitting on the sidelines thus jumping out in good news and jumping in on bad news... Crazy and what my beliefs about it does not change, so we just go with it and stay in for shorter time.
Check Mate GAME OVER
  • #447
  • Apr 1, 2008 3:21pm Apr 1, 2008 3:21pm
I still maintain my view that it's most people looking and saying "Well, it's not going to be as bad as the doom and gloomers say and we all know it's hurting for the time being, but we're going up out of this mess", so bad news gets shrugged off. As far as today's PMI being contracting (under 50), it was still less shrinkage than expected, proving the theory that things aren't going to be as painful as was gloomed to be to certain people. To some of us, it may be a case of looking at things and saying that yes, a 55 is a better grade than a 32, but it's still a failing grade none-the-less. Then, the reaction I think we're seeing here is, "hey, we were expecting a 32 but we aced that with a 55!". Still a failing grade, but nearly as bad.
Never underestimate the powers of the Force.
  • #448
  • Apr 1, 2008 7:47pm Apr 1, 2008 7:47pm
:surprised wow another crazy rally today...not enough for me to change my view that this thing is gunna tank, but certainly impressive. in an absolute sense todays news wasnt that good, which gives you an idea of just where the market sentiment is!
Relax and be happy.
  • #449
  • Edited 8:12pm Apr 1, 2008 7:55pm | Edited 8:12pm
Quoting merlin
:surprised ... an idea of just where the market sentiment is!
The US economy is doing great ... April Fools! Absolutely priceless.

P.S. Keep your April 1st goggles on tight... there's meta-fooling afoot
  • #450
  • Apr 2, 2008 9:26am Apr 2, 2008 9:26am
Hey look, Ben's trying for a late April's Fool:

Quote
2008.04.02 16:21:00 MARKET TALK: Bernanke: Fed Did Not Bail Out Bear Stearns

Trust price. Know yourself.
  • #451
  • Apr 2, 2008 10:31am Apr 2, 2008 10:31am
He bailed out JPM. They are the ones with the $29 billion guarantee. BSC is history.
  • #452
  • Apr 2, 2008 11:01am Apr 2, 2008 11:01am
Quoting SeekingLight
Hey look, Ben's trying for a late April's Fool:





Where are you getting your news feed?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #453
  • Apr 2, 2008 11:33am Apr 2, 2008 11:33am
Quoting Plutonite


Where are you getting your news feed?
It's just your average MT4 plugin newsfeed, obtainable from most random demo platforms.
Trust price. Know yourself.
  • #454
  • Apr 3, 2008 9:35am Apr 3, 2008 9:35am
Hey Merlin, I guess that's what you wanna read :

April 3 (Bloomberg) -- Billionaire George Soros called the current financial crisis the worst since the Great Depression and said markets will fall more this year after a brief rebound.

``We had a good bottom,'' Soros said yesterday in an interview in New York, referring to the rally in stocks and the dollar after JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. on March 17. ``This will probably not prove to be the final bottom,'' he said, adding the rebound may last six weeks to three months as the U.S. moves closer to a recession.
(...)

The euro has climbed 7.5 percent against the dollar this year and the Japanese yen has gained 9.1 percent. These and other currencies may continue to strengthen, he said.

``There is an increasing unwillingness to hold dollars, though there's a lack of suitable alternatives,'' he said. ``It's a period of heightened uncertainty.''
Federal Reserve officials dropped their benchmark interest rate 2 percentage points this year to 2.25 percent, and Soros doesn't see that they can lower the rate much further, given the weak dollar.

``We are close to the limit,'' he said.
  • #455
  • Apr 3, 2008 3:34pm Apr 3, 2008 3:34pm
it would be a lot better if it came from someone other than soros. i used to respect his opinion, until he got wrapped up in politics
Relax and be happy.
  • #456
  • Apr 3, 2008 5:28pm Apr 3, 2008 5:28pm
Yeah, me too why didn't he keep his focus with the markets and leave the politicing to the folks in DC. He is out pushing a new book. A billionaire hawking. No shame. I know its not for the money. But still.
  • #457
  • Apr 3, 2008 5:50pm Apr 3, 2008 5:50pm
Quoting SunTrader
Yeah, me too why didn't he keep his focus with the markets and leave the politicing to the folks in DC. He is out pushing a new book. A billionaire hawking. No shame. I know its not for the money. But still.
Cramer is also calling for a selloff, which then put us in "officially clueless" mode.


Take profits while you can , Cramer told viewers during Wednesday’s Stop Trading!, because this market might be ready to snap back from yesterday’s rally.


“I really think we’re in an incredibly overbought moment here where I am concerned,” Cramer said. “The last time we were this overbought we caught a 1,500-point decline in the Dow. That’s worrisome to me. I want people...to ring the register on the hot stocks.”
  • #458
  • Apr 3, 2008 5:53pm Apr 3, 2008 5:53pm
Quoting cesarnc
Cramer is also calling for a selloff, which then put us in "officially clueless" mode.


Take profits while you can , Cramer told viewers during Wednesday’s Stop Trading!, because this market might be ready to snap back from yesterday’s rally.


“I really think we’re in an incredibly overbought moment here where I am concerned,” Cramer said. “The last time we were this overbought we caught a 1,500-point decline in the Dow. That’s worrisome to me. I want people...to ring the register on the hot stocks.”
Even a blind squirrel finds a nut sometimes
Patience + Humility + Study = Success
  • #459
  • Apr 3, 2008 6:25pm Apr 3, 2008 6:25pm
Quoting DutchTrader
Even a blind squirrel finds a nut sometimes
I think the blind squirrel found that nut (Cramer) long time ago.
  • #460
  • Apr 3, 2008 6:56pm Apr 3, 2008 6:56pm
Quoting DutchTrader
Even a blind squirrel finds a nut sometimes


Quoting SunTrader
I think the blind squirrel found that nut (Cramer) long time ago.
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