Bird in the bush is less than two in the hand
Not so good compared to that target fund.
Sally V wrote:
You are ignorant beyond belief.
I tell you what. Go down to the local watering hole and find some lady who's there with a big guy. Say to her, "smell you later". After they pick you up off the floor, ask her man the same question you just asked me.
This Sally V poster comes across as a Grade A bit*h. Does this person ever post anything worthwhile, or just constantly bash Igy?
Makes this thread unbearable.
Hi, K5/Igy! Would you like to contribute something positive to this thread, or are you just going to keep whining about other posters? Why not tell us about how you misjudged the market so badly?
Zacks
The bulk of the Q2 earnings season is now behind us, with results from 454 S&P 500 members accounting for 92.1% of the index’s total market capitalization already out...with 71.1% beating EPS estimates and 52.9% coming ahead of top-line expectations.
Positive EPS surprises for the 454 index members that have reported results are tracking modestly above the 4- and 12-quarter averages. This suggests that Q2 estimates may not have been that low after all.
[quote]K5 detector wrote:
By the way, I don't copy and paste things. I can actually think for myself.
Wow. That's rich. Posting the same, pathetic smears over and over again is what passes for thinking in your "mind"?
You really ought to stay in the shallow end. Don't want to get that helmet wet.
See. That's how you do it.
Hi, K5/Igy! That was actually pretty funny. Where did you copy and paste that from?
Speaking of funny, how'd that Dow 13k prediction work out for ya?
White Shirt Detector Guy,
I have nothing to do with your K-5 feud. I have to say the person you call K-5 doesn't make up stuff about me. Bizarre to say the least, you must be one strange dude.
Igy
Earnie,
GAAP EPS was only a 37% beat on a lower hurdle rate. The GAAP PE is over 25 highest level since the financial crisis.
Igy
Fair enough regarding GAAP, but only a fool would ignore non-GAAP data. The "lower hurdle" thing is meaningless.
Earnie,
I am on the other side of the argument thinking GAAP is more relevant and the continual lowering of estimates as significant. The forward operating earnings (non-GAAP EPS) quoted in your piece is a fantasy number if you look where we are and the year out projection.
Igy
All estimates are, by definition, fantasy numbers. That's why your earlier comment was meaningless.
Earnie,
That's funny since you highlight that information like its legitimate.
Igy
You're the one who loves to post earnings vs. estimates data. I just post those as counter examples.
History shows record run doesn't mean big setback around corner
Wall Street partied like it was 1999 on Thursday. The Dow Jones Industrial Average , S&P 500 index and Nasdaq Composite Index notched record highs on the same day for the first time since Dec. 31 1999. Friday's action wasn't as ebullient, but the Nasdaq Composite still managed to carve out another all-time closing high of 5,232.89.
So, what's next for this stock market?
We all know how things ended up in 1999, as the dot-com boom was at its peak. Stocks rose. In fact, the tech-heavy Nasdaq, which was teeming with hyperinflated stocks like Pets.com, rallied for three months, gaining about 24% to a peak of 5,048 on March 10, 2000, before the dot-com craze soured.
From March 10, 2000, the Nasdaq gave up more than a third of its value to hit 3,321.29 on April 14, 2000, according to FactSet data. Thereafter, a lot of volatile trade would follow, which would swing the Nasdaq up and down. Ultimately, it was the start of an ugly downtrend for the index -- and stocks overall.
It isn't so easy to draw parallels between those bubblicious days and recent records notched by stock benchmarks. Most notably, on a price-to-earnings basis, Nasdaq-traded stocks boasted a price-to-earnings, or P/E, ratio of 72, compared with around 21 now. S&P 500 stocks boast a P/E of around 18. That is pretty lofty for large-cap stocks, but cheap compared with 28 back in 1999. Moreover, data trackers at Bespoke Investment Group say, the three main stock-market indexes have finished in record territory on the same day on 149 occasions dating back to 1980. But with the exception of the aforementioned 1999 period, such a record trifecta has been more of a bullish indicator than a harbinger of an impending crash.
Prominent market technician Tom McClellan says the level of quiescence in the market can be interpreted as bullish. The past two years marks the lowest level of volatility in the S&P 500's history, according to McClellan. McClellan explains that low volatility, or periods of relative calm, usually precede a longer-term uptrend in stocks. One measure of volatility, the CBOE Volatility Index , closed at nearly a two-year low at around 11 on Friday. "The point is that most of the time, if something or someone doesn't interfere, these quiet periods are followed by strong new uptrends," McClellan said in a Friday note.
Bespoke statisticians say 41% of stocks on the S&P 500 offer a richer yield than the so-called long bond, or 30-year note. And more than 60% pay a better yield than the benchmark 10-year note. Bespoke makes a further point that, the S&P 500 total return index, which reinvests dividends into the market, has returned a whopping 989% since 1990, compared with a return of 517% for the S&P 500 over the same period.
Our work continues to suggest that near term downside risk currently exceeds upside potential, but that the minor pullback we are expecting is likely to provide a better buying opportunity later on this quarter as numerous indexes and influential individual stocks target an additional 6% to 14% advance, overall, during the next one to several quarters.
U.S. stock futures on Monday pointed to a slightly higher open as oil inched up, putting the market on track to add to its run of record closes.
Investors are waiting for a fresh reading on New York state's manufacturing industry ahead of the bell, followed by a report after the open on the nation's housing market.
S&P 500 futures rose 4.30 points, or 0.2%, to 2,184.50, while Dow Jones Industrial Average futures added 39 points, or 0.2%, to 18,562. Nasdaq-100 futures tacked on 9.50 points, or 0.2%, to 4,813.75.
"It's looking a little quiet from an economic data standpoint, with [the] U.S. Empire State manufacturing index the only standout release," said Craig Erlam, senior market analyst at Oanda, in a note.
On Friday, the S&P 500 and Dow each closed slightly lower, but still finished with weekly gains for the second straight week, and just below their record closes hit Thursday. The Nasdaq Composite rose Friday, scoring a record close, and the tech-heaving index has advanced for seven weeks in a row.
Other markets:Oil futures traded slightly higher amid hopes for a production freeze, helping sentiment. European stocks inched up, while Asian markets closed mostly higher, with Chinese stocks helped by renewed hopes for the launch of a Shenzhen-Hong Kong trading link. Gold futures and a key dollar index were little changed.
Record highs already! The Bull lives!!