TwixVoy
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Thu Feb-04-10 04:02 PM
Original message |
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FYI the DOW has just fallen below 10,000.
We need JOBS.
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TomClash
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Thu Feb-04-10 04:03 PM
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1. That's what the market is saying |
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Demand sucks because incomes suck.
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OneTenthofOnePercent
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Thu Feb-04-10 04:10 PM
Response to Reply #1 |
7. At some point the American public must realize the consequences of significant recession. |
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People's lifestyle may have to take a hit. That's just how recession works. Demand sucks because people are unwilling to recognize that in a recission incomes are affected as well.
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TomClash
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Thu Feb-04-10 04:15 PM
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9. Actually I think people recognize that quite well |
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Incomes suck so no one spends because they are afraid of layoffs and a further reduction in income. It is a vicious cycle. Meanwhile the uber-rich are buying everything on the cheap.
Plus, incomes have "underperformed" for decades.
SoCalDem wrote a great post yesterday on how much incomes suck.
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Blackhatjack
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Thu Feb-04-10 04:04 PM
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2. So what is happening with the Hedge Funds? Are they holding 'fire sales?' |
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This could be a bunch of 'dead canaries' with the real drop soon to follow.
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FarCenter
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Thu Feb-04-10 05:23 PM
Response to Reply #2 |
28. If hedge funds were shorting the market today, they made money |
gateley
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Thu Feb-04-10 04:05 PM
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3. Not that i really understand it, but what are they attributing this to? For example |
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when something occurs in government that benefits the corporations, the stocks soar. So, should we look at this as a good sign? Did the government/administration do something that favored the people instead of the corporations??
Thanks.
And hell yes, we need JOBS. I need a job!
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TwixVoy
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Thu Feb-04-10 04:09 PM
Response to Reply #3 |
6. Today it is being attributed to |
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the fact we lost another 450,000+ jobs last month (more than expected) and sovereign debt concerns.
Both very real and serious issues.
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Beavker
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Thu Feb-04-10 04:39 PM
Response to Reply #6 |
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By whom? So if they would have just 'guessed' that MORE than 450k jobs would have been lost, only losing that amount would have made the market go up? And it's the ONLY indicator of the worth of a business? Every publicly traded company is worse off today than they were yesterday?
People: We base our economy on what people guess, and what rich people or firms that invest for rich people think. These Wall Street whores will make your 401k go down because a Democratic President is on TV. Literally for that reason the market will go down.
It's not real most of the time. I hate that someones business could tank and fail even if they are selling and making money. Because some suit 'thinks' that down the road they won't, their business tank...now.
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WCGreen
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Thu Feb-04-10 05:35 PM
Response to Reply #18 |
32. The so called experts are starting to be held accountable... |
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But I would still like CNBC and the other business channels show how many times these "experts" hit their predictions and how many times they are just blowing smoke...
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gateley
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Thu Feb-04-10 05:25 PM
Response to Reply #6 |
30. Thank you -- I get it now. Although they sure didn't worry about all the |
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jobs "lost" by sending them overseas or granting more H-1B visas :eyes:. :hi:
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gratuitous
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Thu Feb-04-10 04:17 PM
Response to Reply #3 |
10. I think it's all due to Scott Brown's election in Massachusetts |
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At least, that was the reason the sun came up in the east this morning according to the prevailing wisdom flowing out of my teevee.
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karynnj
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Thu Feb-04-10 05:24 PM
Response to Reply #10 |
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It makes as much sense as some of the reasons given on CNBC
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gulliver
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Thu Feb-04-10 05:45 PM
Response to Reply #10 |
37. Yup. Depressed people to think we might be... |
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...dumb enough to give the country back to the Republicans.
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Ruby the Liberal
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Thu Feb-04-10 05:50 PM
Response to Reply #3 |
38. Much of it is EU concerns |
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The Greek issue (they're broke) and HIGH unemployment elsewhere (Spain is over 20%).
Tomorrow, the unemployment numbers for the US will be released. Could be a wild ride.
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JuniperLea
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Thu Feb-04-10 04:05 PM
Response to Original message |
4. It hasn't hit its support level yet... |
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That's what the volitility is all about... a lot of day-trading... a lot of profit taking right away.
Too much is being read into this ONE indicator. And too many idiot talking heads on the TV are giving idiotic reasons for the daily ups and downs. Do not believe them.
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Ruby the Liberal
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Thu Feb-04-10 05:51 PM
Response to Reply #4 |
40. Bingo. The DOW is indicative of nothing. |
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The S&P 500 is the leading indicator on the economy and where people *should* put their focus if they were inclined to follow an index.
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bluestateguy
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Thu Feb-04-10 04:08 PM
Response to Original message |
5. Fianl close: 10,002.18 |
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Jobs data tomorrow could mean a big jump or a big fall.
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jannyk
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Thu Feb-04-10 04:10 PM
Response to Original message |
8. Actually 10,002.18 after settlement. Expected Jobs Report, Eurozone... |
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worries - especially Portugal, Greece. Spain. Plus the escalation in US/China rhetoric - all bad news.
Strange thing is Gold (-$47.20) and Oil (-$3.96) also dropped like rocks too.
Yet the Bonuses keep getting bigger!!!!
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cbdo2007
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Thu Feb-04-10 04:20 PM
Response to Original message |
Statistical
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Thu Feb-04-10 04:24 PM
Response to Reply #11 |
12. I wish you had the money to place that bet. I'll be your counter party. |
cbdo2007
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Thu Feb-04-10 04:28 PM
Response to Reply #12 |
16. I'm just trying to be one of those DUers who assumes the worst :) |
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I always get yelled at when I mention how useless a drop like this is and that it doesn't really mean anything.
If I really thought it was going to 4,000 though I'd be shorting like crazy tomorrow!!
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Statistical
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Thu Feb-04-10 04:37 PM
Response to Reply #16 |
17. Sorry. My sarcasm detector must be broken today. :) n/t |
Blackhatjack
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Thu Feb-04-10 04:24 PM
Response to Original message |
13. CNBC Talking Head says driven by possible Bailouts needed for Spain/Portugal etc. |
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... that they will be holding out tin cups needed to bailed out, and that reaction is likely connected to how 'exposed' lenders are in their portfolios to sovereign wealth funds in those countries.
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Beavker
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Thu Feb-04-10 04:42 PM
Response to Reply #13 |
21. But it hasn't happened yet and may not. |
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Edited on Thu Feb-04-10 04:42 PM by Beavker
And if it did, may not even adversely effect anyone. Yet TODAY they are now worth less than yesterday. I love Speculation.
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Blackhatjack
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Thu Feb-04-10 04:44 PM
Response to Reply #13 |
24. Well that was a short trip to CNBC... Host and guest engaged in revisionist history re: Bush |
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Just blatantly mistate the facts and roll on.... without me.
Will say the British guest tried to focus their attention that this is much bigger than just the size of the deficit in the US, it is a worldwide problem.
CNBC talking heads cannot see beyond their blame Obama for everything meme.
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Individualist
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Thu Feb-04-10 04:25 PM
Response to Original message |
14. Government needs to realize that the people are the engine that drives the economy |
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and start helping the people more than corporations.
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Statistical
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Thu Feb-04-10 04:26 PM
Response to Original message |
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Edited on Thu Feb-04-10 04:46 PM by Statistical
It busted right through both 120 day and 200 day moving averages on January 19th. It hasn't been able to get higher since then even on good news. I wouldn't go long until it can sucessfully close above its 200 day and that looks to be a while.
On edit: I was mistaken. I was looking at 40 day instead of 40 week MVA like I thought I was.
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slipslidingaway
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Thu Feb-04-10 04:41 PM
Response to Reply #15 |
19. Better check the chart ... |
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"It busted right through both 120 day and 200 day moving averages on January 19th. It hasn't been able to get higher since then even on good news. I wouldn't go long until it can sucessfully close above its 200 day and that looks to be a while."
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Statistical
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Thu Feb-04-10 04:43 PM
Response to Reply #19 |
23. oops. thanks. switched from daily to weekly without noticing. |
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Edited on Thu Feb-04-10 04:45 PM by Statistical
Still it closed today under 120 day. If it can't moved back above it by end of close tomorrow I am bearish short term.
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slipslidingaway
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Thu Feb-04-10 04:49 PM
Response to Reply #23 |
26. It never even made it to the 200 week on this last rally??? n/t |
AlinPA
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Thu Feb-04-10 04:42 PM
Response to Original message |
20. About a month ago, a JPMorgan analyst said the market would vary in 2010 between 9500-11500 and |
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would end up a small amount positive. Sorry, no link, this is just from my watching CNBC.
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Phoonzang
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Thu Feb-04-10 04:43 PM
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22. Note that the Dow started its current plunge after Obama said he was going after the banks. nt |
TheKentuckian
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Thu Feb-04-10 04:49 PM
Response to Original message |
25. Jimmy crack corn, I sez |
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The Dow could be at 50k and we'd all still be struggling.
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bobburgster
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Thu Feb-04-10 04:56 PM
Response to Original message |
27. Plus the escalation in US/China rhetoric.... |
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Mentioned above, I believe this to be ominous. Last thing we need is to get into a problem with the country that has a hold of our ahemmmmm, privates.
Also the economy, specifically U.S. production needs to be a focus to help get some companies hiring again. Without a job/money you can't buy!
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FarCenter
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Thu Feb-04-10 05:32 PM
Response to Original message |
31. S&P peaked at 1150; It should get down below 1000 for the expected correction |
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But how low it goes? Hard to tell. Below 900, it is time to get nervous.
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Ruby the Liberal
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Thu Feb-04-10 05:53 PM
Response to Reply #31 |
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But then again, I am short in most positions.
PE are just too high, IMO. We need another 10% or so off the index.
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taught_me_patience
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Thu Feb-04-10 05:39 PM
Response to Original message |
33. Bankers got their bonuses |
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now they can let the market fall.
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ddeclue
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Thu Feb-04-10 05:42 PM
Response to Original message |
34. It's all bogus.. I wouldn't invest a dime until there are prosecutions, investigations, and |
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re-regulation. You're better off going to Vegas with your money and playing the slots.. At least you know what the rules are and everybody plays by the same ones.
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Jennicut
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Thu Feb-04-10 05:51 PM
Response to Reply #34 |
39. Totally correct. It is fake and bogus. The stock market is meaningless. |
Statistical
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Thu Feb-04-10 06:20 PM
Response to Reply #39 |
43. Are dividends bogus? The ones paid to me seem to be real money. |
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If dividends are real then wouldn't the yield on dividends (dividend payments / stock purchase price) be real?
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Make7
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Thu Feb-04-10 05:44 PM
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35. Dow up 20% since Obama took office. ( n/t ) |
RagAss
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Thu Feb-04-10 05:44 PM
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ddeclue
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Thu Feb-04-10 05:55 PM
Response to Reply #36 |
On the Road
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Thu Feb-04-10 06:39 PM
Response to Original message |
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it went too far, too fast and needs a correction.
A rally was probably in order 10 months ago as it became clear that the worst-case economic scenarios were not playing out. But the length and size of the rally was unrelated to any economic news. Even though the market looks six months ahead, a Dow of 10k is way too high considering the current anemic situation.
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