I hate to nitpick, but that's more than a couple of things. And you didn't actually point those out in the pier in question.
As for "the Bullish meme", there's no angst there. Just celebration given the most recent data.
I hate to nitpick, but that's more than a couple of things. And you didn't actually point those out in the pier in question.
As for "the Bullish meme", there's no angst there. Just celebration given the most recent data.
Econ,
OK, fine. It doesn't represent anything more than a paper gain and the short term the direction of the market.
On the other hand, some of us believe that the market direction should be supported by actual improving economic fundamentals.
Igy
Agreed. Paper gains and paper losses. Nothing really matters until you cash out. That's why this thread is only so much hot air.
As for fundamentals, believe what you want. The most important number is your sell price.
....and buy price...at 2195 buy and 1550 sell....not good....
Igy
I was referring to individual stock price, not where the market sits. But the idea is the same.
OK, the buy AMZN at $770 and sell at $470. It will happen to more than a few. Unless this time is different.
For every loser, there's a winner. It's a zero sum game.
U.S. stock futures on Tuesday pointed to another push into record territory, as analysts said a rally for oil prices was spreading good vibes across markets.
S&P 500 futures rose by 6.10 points, or 0.3%, to 2,199, while Dow Jones Industrial Average futures gained 55 points, or 0.3%, to 18,965. Nasdaq-100 futures stepped up by 24.25 points, or 0.5%, to 4,878.25.
Oil futures were off their best levels, but still extending their advance into a third session. The moves came as anticipation continued to build about a production cut at the meeting of the Organization of the Petroleum Exporting Countries on Nov. 30. A Nigerian delegate said the cartel probably will reach a consensus on the issue later Tuesday.
On Monday, the S&P 500 , Dow and Nasdaq Composite all closed at record highs, aided by the jump in crude prices.
"Growing confidence that a deal will be struck in Vienna next week by OPEC members to cut production is serving to push oil prices higher, and this is driving a swathe of confidence through equity markets," said Jamieson Blake, retail sales manager at ADS Securities London, in a note.
"On top of this, Donald Trump has confirmed that he will instruct the U.S. to withdraw from the Trans Pacific Partnership on his first day in office, a move that could stand to bolster the fortunes of U.S. businesses at least in the short to medium term, giving investors more to cheer," Blake added.
Well that's a good start. 📀
Now we learn that home sales are at a nearly 10 year high.
I'm sure glad I'm not sitting this out. I feel bad for Igy's clients, if he has any left.
Major U.S. stock indexes closed at record highs for a second straight session Tuesday, with the Dow industrials and the S&P 500 also clearing noteworthy psychological barriers.
U.S. stocks closed higher Tuesday as the Dow industrials and S&P 500 cleared psychological milestones but major indexes simultaneously reached record highs for a second straight day.
The Dow Jones Industrial Average rose 67.18 points, or 0.4%, to finish at 19,023.87, its first session of surpassing and closing above 19,000. The average was led higher by more than 2% gains in both Verizon Communications Inc.(VZ) and Home Depot Inc.(HD)
Meanwhile, the S&P 500 index finished up 4.76 points, or 0.2%, at a record 2,202.94, with nine out of 11 sectors closing higher, led by gains in telecom and real-estate stocks. Additionally, consumer-discretionary names were among the biggest outperformers, lifted by retailers.
The Nasdaq Composite Index gained 17.49 points, or 0.3%, to finish at a record 5,386.35.
As all three indexes hit new records, so did the Russell 2000 index of small-cap stocks. The Tuesday session marked the first time that all four indexes hit intraday records consecutive days since April 1998. The last time all four closed at records for two session in a row was March 18 and 19, 1998.
The Russell index closed higher for the 13th straight session, the longest such streak for the index since a 15-day stretch ending in February 1996. The small-cap index rose 12.04 points, or 0.9%, to finish at 1,334.28 on Tuesday.
Markets have been in a strong uptrend since the presidential election two weeks ago. Donald Trump's unexpected victory was viewed as a positive for Wall Street, because the president-elect is expected to advocate for policies--including massive corporate tax cuts and financial and environmental deregulation--seen as supportive for economic growth.
"The postelection narrative is still in place, with investors continuing to focus on fiscal policy and regulatory easing. That's giving the market reason to be optimistic, and it means that the path of least resistance is higher for now," said Aaron Clark, a portfolio manager at GW&K Investment Management, which has $33 billion in assets under management.
Despite that, Clark added that "I'm surprised by how quickly markets have priced in the positive impact of the election, as though changes to taxes and regulation can be done with the snap of a finger. I don't think we've overshot on the upside, but we could see buyer's remorse if the market starts to think it is ignoring risk."
some bragging time -
My net worth is up 8.2% over the past 52 weeks, even as I'm paying full private college tuition for Agip junior.
That includes appreciation of the house.
These are very good times for my family - I am thankful for them and I hope you all have similar stories.
Good times indeed. At least for anyone who ignored the "end is near" mantra resounding from Wall Street shills. I feel bad for Igy's clients.
Joe,
Wall Street shills chant the mantra of TINA, and when interest rates go up, they move to cheering infrastructure and tax cuts. You are the one following the Wall Street meme Mr. Beets.
The Street has had very few voices of caution. Here is one you would be wise to listen to:
Believe what you wish, but the market gets more overvalued by the day.
Igy
Don't make me laugh. You are the epitome of the WS doomsday mantra. Bearish prognosticators outnumber the Bulls by 10:1. Your employer tells you to play up the fear factor so that you can churn sales and reap fees from people who trust you. They are fools as you've so aptly described them yourself. Your hand is in their pockets.
MarketWatch wrote:
U.S. stock futures on Tuesday pointed to another push into record territory, as analysts said a rally for oil prices was spreading good vibes across
"On top of this, Donald Trump has confirmed that he will instruct the U.S. to withdraw from the Trans Pacific Partnership on his first day in office, a move that could stand to bolster the fortunes of U.S. businesses at least in the short to medium term, giving investors more to cheer," Blake added.
http://money.cnn.com/data/fear-and-greed/Joe Beets wrote:
Don't make me laugh. You are the epitome of the WS doomsday mantra. Bearish prognosticators outnumber the Bulls by 10:1. Your employer tells you to play up the fear factor so that you can churn sales and reap fees from people who trust you. They are fools as you've so aptly described them yourself. Your hand is in their pockets.
Joe Beets wrote:
Don't make me laugh. You are the epitome of the WS doomsday mantra. Bearish prognosticators outnumber the Bulls by 10:1. Your employer tells you to play up the fear factor so that you can churn sales and reap fees from people who trust you. They are fools as you've so aptly described them yourself. Your hand is in their pockets.
Joe,
You should laugh at your foolish self.
Beets your bottom dollar to the Wall Street money machine:
http://www.cnbc.com/2016/11/22/bofaml-raises-its-year-end-sp-500-target.htmlIgy
Oh, I'm laughing alright, but not at myself.