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Dow almost 17000! Wow, even my wildest expectations did not imagine this and it seems to be poised to go even higher, sentiment seems to be robust and traders seem to be simply shrugging any negative data. We are a full 16% above pre-recession highs which is simply flabbergasting with further upward momentum At this rate we will reach Dow 20,000 by year end easy.
In addition even the Real estate market in some places like California are almost back to the highs reached during the bubble and continue to escalate. I would not be surprised if real estate prices even exceed their bubble peaks.
MASSIVE bubble that is going to have an astronomical collapse soon or are the good times back for good?
In addition even the Real estate market in some places like California are almost back to the highs reached during the bubble and continue to escalate. I would not be surprised if real estate prices even exceed their bubble peaks.
I see the opposite. It obvious the stock/real estate market is out of control. Since the punchbowl drunken fools are incapable of cooperating with the FED/USGovt, a planned deflation is the only way to get the real estate-employment synergy ignited again.
Just as important, the FED has been looking naively foolish for some time now. IMHO, Ms. Yellen has decided to shred the wealth-effect blueprint & head back to the drawing board. She will continue to warn/lecture about the real estate-employment connection for a little while longer. Then, she will end this circus once & for all via real estate deflation.
Note: Homeowners have had ample time to lower their housing costs via low mortgage rates. Also, the ubiquitous baked-in-the-cake citizen subsidies will help deal with this monumental, necessary 'correction'.
Corp earnings are rocking, so the DJ does not surprise me at all.
With 446 out of 500 of the S&P 500s earnings reports already in, they're expected to be up less than 4% from the same period a year ago. I hardly consider that "rocking".
Five weeks into 2014 Q2, total earnings for the quarter are currently expected to be up +3.7% from the same period last year
The S&P is a good broad market indicator. Still growth stocks, small caps, Nasdaq and others are seeing a rotation/correction. This is a good thing after the out performance of the last few years in certain sectors. While the S&P is up 2.61 YTD 05/12/14, the DJIA is only up .72 YTD , the Nasdaq is -.78 and the RUT is -2.58. So quite a mixed bag. If the S&P is annualized it would only equate to around 6%.
I will be happy with a 6 - 8 % S&P gain by years end. This may finally be the year that value outpaces growth, so personal results may be dependent on allocations.
Agreed and neither does anyone who actually looks at the numbers.
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At this rate we will reach Dow 20,000 by year end easy.
The FED has been embarrassed long enough!
