Down goes the Dow

Grunt,

Dishonest like Nixon and small. I should compare my hands with Trump. Or perhaps I could try to stand tall next to that loser John Hussman.

Igy

Big Dog Investments wrote:

Happy Birthday, bull market. You did good.

For clarification, I posted this on the anniversary of the day the bull market was "born" - March 9, 2009. The associated bear "died" on March 6, 2009 when the S&P hit 666.

I, too, quite vividly remember the 666. And I clearly recall it as being on Friday (March 6) because there was a great deal of opinion and even angst over the weekend about what would happen when the markets reopened on Monday, March 9. Fortunately that Monday marked the beginning of an impressive bull.

Big,

OK, I'll check my Thompson One this morning, if I find anything different I will post. The intersting point of my post was the 666 "mark of the beast."

Igy

Ghost of Igloi wrote:

Muy loca and Big,

Kind of funny that I made a comment about 3/9/2009, 666 low, and the mark of the beast.

I am pretty sure the charts have some data error. I personally recall that day very clearly. I admit I am 65 and the memory fades, but I have quoted that day for years as if it was the financial equivalent of 9/11.

Nevertheless, a day difference is somewhat meaningless. If someone wants to hang me on this petty point, even when I have posted data to the contrary so be it. It is in my view a petty point.

Igy

You still don't get it. Yes it is a petty point; you were wrong by one trading day. But that's not the issue. The problem is with your character. You have been proven wrong, yet you refuse to admit it. Saying "I'm right" over and over does not make it true. You are acting like a petulant child. Grow up.

U.S. stock futures on Thursday turned solidly higher after the European Central Bank delivered fresh stimulus measures to boost the eurozone's flagging economy.

The ECB cut the bank's key lending rate to zero from 0.05% and pushed the rate on its deposit facility to minus 0.4% from minus 0.3%. It also announced it would expand the size of its monthly bond purchases to EUR80 billion ($86.86 billion) from its current level of EUR60 billion beginning in April and expand the scope of those purchases to include investment-grade, euro-denominated, nonbank corporate bonds.

European stocks surged higher on the news and U.S. futures followed suit, rallying after already showing early gains ahead of the announcement.

More evidence that Igy misrepresents the facts. No one should be surprised.

Almost got in a physical fight today defending a woman. felt good.

"quarterly services summary: y/y +3.7% so that sounds good.

jobless claims continue their strength -4 wk average lowest since oct

consumer confidence pretty much unch

I really can't wait to see who was right -- bears who think the market will fall with earnings and bulls who think the 3Q and 4Q rebound in earnings justify current market strength.

I'm not sure why the market will fall now....we all know that earnings have been falling for a long time. Why would the market choose NOW to fall despite knowing the facts for a long time?

And of course, the fall in earnings is because of energy - without a crash in energy prices, there is no fall in earnings.

I am glad to be in the company of other losers, dishonest people that misrepresent facts like David Stockman, Tyler Durden and John Hussman.

I will pass on the opportunity to insult.

Igy

MarketWatch wrote:

U.S. stock futures on Thursday turned solidly higher after the European Central Bank delivered fresh stimulus measures to boost the eurozone's flagging economy.

The ECB cut the bank's key lending rate to zero from 0.05% and pushed the rate on its deposit facility to minus 0.4% from minus 0.3%. It also announced it would expand the size of its monthly bond purchases to EUR80 billion ($86.86 billion) from its current level of EUR60 billion beginning in April and expand the scope of those purchases to include investment-grade, euro-denominated, nonbank corporate bonds.

European stocks surged higher on the news and U.S. futures followed suit, rallying after already showing early gains ahead of the announcement.

Europe is justifying their negative interest rates with low inflation rates (or even deflation). But the truth is that in Europe, gas is included in the inflation rates and groceries got quite a bit cheaper, too, because of the low transportation cost.

But housing and services got considerably more expensive at the same time. Once oil and gas goes up (and therefore food), there will be a significant inflation.

European states have accumulated significant debt and the ECB can simply not afford to raise interest rates to something like 3-5% mid term. That would probably lead to the default of multiple Euro countries...

the europeans and americans need more inflation - that should keep interest rates fairly low for a good amount of time.

if there is deflation, the debt held by developed nations becomes that much larger. Whereas if there is inflation, the reverse is true - the debt would become easier to pay down.

so yeah - I wouldn't expect higher interst rates unless inflation gets quite high. Which is unlikely given the worldwide surplus production capability.

Ghost of Igloi wrote:

I am glad to be in the company of other losers, dishonest people that misrepresent facts like David Stockman, Tyler Durden and John Hussman.

Igy

This a good first step...recognizing that you have a problem.

Jerry,

Oh thank you for your help. I will be forever indebted to your guidance and wisdom.

Igy

Don't mention it. That's what friends are for.

Now don't forget to take the next step.

Jerry,

Perhaps someday we can have a beer, chips, and mango salsa together. That would be a good second step. Sounds like fun huh?

Igy

You've got a way to go before that happens.

Jerry,

Too bad I thought we could be bros.

Igy

Are you saying you don't intend to change your behavior? I thought you had started to turn the corner.

Jerry,

Ah, no.

Igy

Bullish view was erased rather quickly....