Down goes the Dow

Sorry, I forgot this point.....

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha (laughing continues)

Better performance than Bigfoot or agip's (my apologies, for illustration purposes only) clients:

Bullshit. You've been wrong from your first post. No way those guys are doing worse than you, troll.

Historian,

I got ta tell ya, I'm still laughing....

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha (now continuous chuckle)

Igy

Add you to the list, Hussman not me.....

Ha ha ha ha ha ha ha ha ha ha ha ha (continuous laughing)....

You should have quit while you were ahead. Now it's just getting ugly.

Sally V,

For the record my first post, and my view has not changed.

"The risk in the stock market is under appreciated. QE has distorted equity prices and the next big move is down rather than up. The Schiller PE is 27 and valuations are stretched when measured against other valuation models. Remember, the stock market has had two 50% down markets in the past fifteen years. The fifteen year average compounded return on the S&P is only 4.3%, which is inferior to treasuries. Treasuries are overvalued as well. Cash is the superior asset class when risk returns to the market."

Read more:

http://www.letsrun.com/forum/flat_read.php?thread=5369837&page=230#ixzz4FBnIL6ao

The S&P 500 Index level is up 3.2% since that date. The index has dropped twice in excess of 12%. So you can take you BS comment and stick it in your hat. Or, perhaps this is from fake Igy.

Igy

Thanks for proving my point. Now you should go.

Wow he really was wrong with his first post. Was that the real guy or the troll?

U.S. stocks rose cautiously Friday to notch a fourth week of gains, with a rally by telecom shares offsetting weakness in the industrial sector as investors awaited next week's Federal Reserve policy statement.

The S&P 500 Index advanced 9.86 points, or 0.5%, to close at a new all-time high of 2,175.03, boosted by 1.3% jumps in both telecom and utilities, sectors typically viewed as defensive. The previous all-time closing high for the index was 2,173.02 on Wednesday.

All 10 of the S&P 500's sectors closed in positive territory, with the worst performer being a fractional gain in industrials sector.

The Dow Jones Industrial Average rose 53.62 points, or 0.3%, to close at 18,570.85, led by gains in Visa Inc.(V), American Express Co.(AXP), and Microsoft Corp.(MSFT), offsetting declines in General Electric Co. (GE) and Caterpillar Inc. (CAT) The gains come after the blue-chip gauge snapped its nine-session win streak on Thursday.

Meanwhile, the Nasdaq Composite Index rose 26.26 points, or 0.5%, to close at 5,100.16, its highest close of 2016.

"This is the rally that no one believes and people want to feel like they are not missing out, but want to err on the side of a sector that is less risky," said J.J. Kinahan, chief market strategist atTD Ameritrade, referring to buying in telecom and utilities. "They think 'at least if the stock goes down then I'll at least get a pretty good yield,'" he said.

A batch of mostly better-than-expected earnings has offered some cause for cheer among investors and provided some support for equities to climb with earnings season a third of the way complete, said Jonathan Golub, chief equity strategist at RBC Capital Markets.

Second-quarter profits are on track to show a contraction of 4.2% with more than 100 companies in the S&P 500 already out with quarterly results, according to FactSet data. That compares with an expected falll in profit of 5.3% in the second quarter, according to the average of analyst estimates compiled by FactSet.

"The reason we study earnings is to get a sense of where things are going, not where they've been,. And I think that if there was a vulnerability going into earnings season that people were concerned about negative growth rate, it really looks like that fear is going away," Golub said.

Quincy Krosby, market strategist at Prudential Financial, said wobbly stock moves over the past few sessions make sense, considering the sizable swing higher for equities over the past week.

"Typically, when a market moves higher toward new highs it tends to wait to adjust for the next new catalyst," Krosby said.

For Wall Street, the next impetus likely will be the two-day Fed policy meeting slated for July 26-27. Although the central bank isn't expected to push benchmark rates higher, market participants will pore over the updated policy statement for clues on the pace and timing of the next rate hike, which could influence the U.S. dollar, Treasurys and the broader stock market.

We now have Q2 results from 126 S&P 500 members that combined account for 32.7% of the index’s total market capitalization. Total earnings for these 126 companies are down -1.1% from the same period last year on -2.6% lower revenues, with 70.6% beating EPS estimates and 55.6% coming ahead of top-line expectations.

Facts checked wrote:

We now have Q2 results from 126 S&P 500 members that combined account for 32.7% of the index’s total market capitalization. Total earnings for these 126 companies are down -1.1% from the same period last year on -2.6% lower revenues, with 70.6% beating EPS estimates and 55.6% coming ahead of top-line expectations.

are they up from Q1 2016? I think they probably are but not sure.

that would mark the end of the profits recession.

agip,

Seasonality makes the comparisons difficult. Also a company like Microsoft had huge write downs a year ago on the mobile acquisition. So their non-GAAP looked better, but the GAAP is stll pretty weak. You saw that with Visa as well. My view is any improvement has been negated by the rise in the index.

A couple of my posts to you were deleted by the trollers. Doing well, I think it is pretty easy to get 3-4% on less risky portfolio which makes more sense to me than this reach for yield.

I ran a good test this morning: 800m @ 3:09 and 4 x 200m @ 42, 40, 39 and 39.

Hope you are well.

Igy

that's good news Igy - glad you are running well.

agreed about the seasonality - we'd be in recession every 1Q if you looked at unadjusted GDP numbers.

but I think it is significant that profits seems to be rising sequentially again, even if not quite yet year over year.

agip,

Agreed the trend is better, you know me concerned about valuations and affects of Fed policy.

Running wise speed is good. Tempos are better, I ran 6 x 800m @ 7:00-7:40 with 2 minutes rest. I need more time, but our Senior Games are in two weeks and four weeks. Track in two, road in four. Happy where I am at, really thought racing was done six months ago.

Igy

Big Dog Investments wrote:

Ghost of Igloi wrote:

Big,

Correction, I didn't advise you or Sally.

Igy

From March 1....

Big Dog Investments wrote:

I bought CHK at the beginning of last week. It's up about 25% since then. Never say never.

I'll be baack.....

Anybody else uncomfortable with GOI's constant Muppet references?

"Kevin Clash, the longtime puppeteer who brought beloved Sesame Street Muppet Elmo to life, has been accused of having had an improper relationship with a teenage boy."

...your reaching Troll.....

?? I thought you were the troll. ??