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Because nearly all economic signs indicate that we are in a recovery, and there is nothing on the horizon to indicate otherwise.
Yeah, well there where a lot of people who thought they didn't sell at the bottom in 2001 either, 7 years later they were proven wrong. You would be smart to keep an open mind. Not saying were headed back because I'm not smart enough to know. But I am smart enough to know anything can happen.
Perhaps your wording should have been, "at least it appears for now I didn't sell at the bottom"
I'm not beating you up. Just pointing out that absolute statements regarding the market have a way of coming back to bite you.
Because nearly all economic signs indicate that we are in a recovery, and there is nothing on the horizon to indicate otherwise.
The employment numbers are awful and likely to remain so for another year. Yes, I realize it is a lagging undicator, but consumer spending will not pick up until employment does. Any recovery without the consumer will be very anemic. The run up in stock prices don't seem to be rational.
The employment numbers are awful and likely to remain so for another year. Yes, I realize it is a lagging undicator, but consumer spending will not pick up until employment does. Any recovery without the consumer will be very anemic. The run up in stock prices don't seem to be rational.
You have to remember where we came from.
We were at 14,000 in Oct 2007.
And we dropped all the way to 6,500 in March 2009.
What was rational about that huge drop? Other than it being a panic?
We have entered a much calmer period for the market.
People are once again buying based on company performance, and they are no longer selling as if the world is coming to an end.
Obama made that assumption based on the economic data he had at that time.
I think that was around Dec 2008 or early Jan 2009.
There is no way Obama can know how many private companies thoughout the entire U.S. will layoff employees.
Nobody can predict that number.
Yes and they made the mistake of doing just that..predicting.
Turned out very bad for them but I think they learned their lesson.
Not a mention since about the unemployment numbers.
So we should trust the people who said unemployment wont go past ~8%???
*sigh*
First of all: Again with THAT old prediction that was made early this year with data from the end of LAST year - long before it was apparent just how hard jobs would be hit. A prediction is only as good as the data that is used to make it - and the fact is, the data at the end of last year was just not very good.
Secondly: It's not just the ADMINISTRATION that's saying things are improving (in fact, the Administration has been very cautious in it's outlook) - trying listening to the CEO of Cisco Systems, to the hiring survey results of companies like Intuit and Careerbuilder.com, take a look at the actions of Warren Buffett - who has bought up Burlington Northern in expectation of an increase in commercial shipping.
And we dropped all the way to 6,500 in March 2009.
What was rational about that huge drop? Other than it being a panic?
We have entered a much calmer period for the market.
People are once again buying based on company performance, and they are no longer selling as if the world is coming to an end.
I think we may see Dow 12,000 by next March.
There were very rational reasons for the big drop, the market was over bought to start with, then the housing market crashed followed by the banks then the auto companies. Things are "less bad" now but that does not justify the run up we have seen.
I'm a conservative, but you really need to reach back several years and remember 9/11.
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A prediction is only as good as the data that is used to make it - and the fact is, the data at the end of last year was just not very good. 
