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April 13 (Bloomberg) -- The Standard & Poor’s 500 Index may rise 17 percent to 1,000 in the next three months as government spending boosts bank profits, investor Marc Faber said.
U.S. stocks probably reached their bear market low when the S&P 500 fell to 666.79 during trading on March 6, Faber, who publishes the Gloom, Boom and Doom report, told Bloomberg Radio in an interview from Thailand.
In his most recent posting on Yahoo! Finance, Jeremy Siegel reiterates his belief that Standard & Poor’s flawed earnings calculations for the S&P 500 are making the corporate earnings picture look much worse than it really is — and he says he thinks the market did indeed bottom on March 9.
The accounting board has recently loosened the "mark to market" provisions which will make the losses look less extreme. There is also a lot of cash waiting to pour in. No one really knows what the market will do but let us hope it moves upwards.....
Lol, I just made some nice money on two bank stocks this morning in premarket and intend to jump in and out of banks the whole first part of this week at least.
But I agree, too soon/scary to go long anything yet.
Lol, I just made some nice money on two bank stocks this morning in premarket and intend to jump in and out of banks the whole first part of this week at least.
But I agree, too soon/scary to go long anything yet.
I intend to jump in on black at the roulette table next time I visit Vegas. I figure the stochastic nature of the "investment" is on par with buying bank stocks, plus it's more fun!
Lol, I just made some nice money on two bank stocks this morning in premarket and intend to jump in and out of banks the whole first part of this week at least.
But I agree, too soon/scary to go long anything yet.
50% on a few pennies is still....a few pennies!
I hope we've seen bottom, but i'm not that optimistic yet.
WSJ online had an article this morning about future bank earnings. While we may see a bump short-run this week, some analysts are predicting a "rolling" crisis by asset class for banks - problems in commercial real estate & consumer cerdit card debt are yet to hit.
WSJ online had an article this morning about future bank earnings. While we may see a bump short-run this week, some analysts are predicting a "rolling" crisis by asset class for banks - problems in commercial real estate & consumer cerdit card debt are yet to hit.
Agree - that's why it's better to daytrade for now and not commit to anything. I just now sold another bank and Im done for the day, maybe. But I agree, it looks like this jump up in the financials is/was based on hoping earnings wont be as bad as they could be this week.
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