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Old 01-07-2009, 12:13 PM
 
Location: Los Angeles Area
3,306 posts, read 3,557,965 times
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How long do you think the current sucker's rally will last? Or of course do you think the current rally is here to stay.

Its down today, so this could be the end of it. But it could turn around pretty easily. I would be surprised if the S & P went much past 1000.
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Old 01-07-2009, 06:12 PM
 
978 posts, read 985,515 times
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It looks like crap to me; I think investors are smarter than this. Apparently, many are buying based on the belief that huge government spending will bring the country out of recession. Well, spending is paid for with taxes and high taxes don't bring countries out of recession, they make them worse and they take a lot of the steam out of recoveries.

Others believe, it is all about "perception." So, if we can just make people believe the economy will recover, then it will. This of course, is nonsense
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Old 01-07-2009, 06:47 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 12,548,931 times
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It'll probably go up around Inauguration Day and maybe for a little while after that, until investors finally start noticing a few weeks from now that some of the corporation they're in have filed for bankruptcy, and U6 unemployment is creeping toward 30%.
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Old 01-07-2009, 07:32 PM
 
Location: Great State of Texas
86,068 posts, read 74,774,258 times
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Didn't you know ? Obama promises to save the economy. The world will be bright and wonderful and "fixed" on 1/21/2009.
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Old 01-07-2009, 07:41 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,751,710 times
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I am enjoying this market. A traders paradise. This month should be a good chance to make money.
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Old 01-07-2009, 08:27 PM
 
Location: Keller, TX
5,670 posts, read 5,374,081 times
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Quote:
Originally Posted by thebigr View Post
I am enjoying this market. A traders paradise. This month should be a good chance to make money.
Agreed, I like the way many days the market seems to generally pick a direction and go with it. Made a modest $153 today after commissions on a $3000 trade in DUG. Look what happened to crude after the supply report.

Sucker's rally? That nomenclature doesn't mean much to me, but I remain a trader, not an investor, in the equities market. I wouldn't go long OR short anything past the bell right now.
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Old 01-07-2009, 08:49 PM
 
Location: Los Angeles, Ca
2,884 posts, read 5,292,847 times
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Technically, it doesn't look good.

The Dow needs to break it's november high. And the S&P has a long ways to go, another 100 points to break 1,000.

Maybe it meanders around until inauguration. Then people realize the stimulus is faultering, and weak. And unemployment keeps creeping up. Then a retest of the november bottom.

But this "rally" looks like a pittance on a long term chart.
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Old 01-07-2009, 08:51 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,751,710 times
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Quote:
Originally Posted by Nepenthe View Post
Agreed, I like the way many days the market seems to generally pick a direction and go with it. Made a modest $153 today after commissions on a $3000 trade in DUG. Look what happened to crude after the supply report.

Sucker's rally? That nomenclature doesn't mean much to me, but I remain a trader, not an investor, in the equities market. I wouldn't go long OR short anything past the bell right now.

When I started in the market over twenty years I was an investor. Being a hyperactive person putting my money in a position and holding it just was not working for me. My mother, knowing me well and with alot of experiance in the market suggested I try being a trader. Best advice I ever took, like the stress and doing pretty well. And I must say, the last 3 or 4 months have been very good. Would not bother me a bit if we had another year of this market.
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Old 01-07-2009, 09:53 PM
 
Location: Great State of Texas
86,068 posts, read 74,774,258 times
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I'm an investor and this is just not my market !
I did buy Walmart months ago and that seems to be holding up pretty good.
I'm doing research though on the companies to pick out some strong ones that might thrive in a recession and have solid balance sheets and have a nice watch list to look at everyday.

I think there's alot of hope riding on Obama and the markets will ride this for a few months..through the spring at least, maybe into the summer.

The Dow today didn't fall much considering ADP announced that almost 700K jobs were lost in December. That's a pretty big number to just shrug off but the Obama rescue is playing hard.
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Old 01-07-2009, 10:06 PM
 
19,105 posts, read 20,674,442 times
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Really, you think it will rally in the spring time? I do know that traditionally there is a honeymoon period with stocks after a new president takes over but to be honest... the Obama plans seem to make the situation worse than help, I am predicting losses and that the honeymoon period is cushioning it but as I said, I see the Obama plans almost tearing up the stock market... I expect heavy losses perhaps as low as 5000-6000 in DOW sometime this year... I guess we will wait and see...
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