Down goes the Dow

Big Dog Investments wrote:

Joe Beets wrote:

Done for tax purposes, so likely not a buy signal. I'm staying out.

I'm still in. Currently it's at 3x what I paid when Chicken Little warned against going long. The DGTD contrarian indicator is the closest thing I've seen to a sure bet.

Thanks for noticing me.

Reel K5 wrote:

Sally V wrote:

Hi, Igy!

All this time and you still cannot discern the difference in writing styles?

Unable or incapable of learning?

It's very hard to discern. The styles of the anti-Semite and racist are very similar. It all just sounds like bigotry.

Sally V wrote:

Reel K5 wrote:

[quote]Sally V wrote:

Hi, Igy!

All this time and you still cannot discern the difference in writing styles?

Unable or incapable of learning?

It's very hard to discern. The styles of the anti-Semite and racist are very similar. It all just sounds like bigotry.

Their not alike at all.

Are you on the autism scale?

They're

Just to explain how ignorant you are, you cite an article from July when the 10 Year Treasury was trading at 1.32% (historic low in price). Gundlach was appropriately lowering his risk and underperforming while other were extending risk. Now with the 10 Year Treasury is at 2.44% in the past month and his fund is number 7 out of over 1,000 funds.

http://www.morningstar.com/funds/XNAS/DBLTX/quote.html

Igy

Correction above: (historic low in yield, high in price)

Igy

Yea, he is such an idiot that he is always quoted and manages $Billions.

Go forth in confidence to managed your ETrade account.

Igy

He is quoted by idiots and manages the money of Muppets. Look in the mirror.

Ghost of Igloi wrote:

Now with the 10 Year Treasury is at 2.44% in the past month and his fund is number 7 out of over 1,000 funds.

Nope.

I'm still trying to get a handle on what this Trump presidency means. I think what he wants to do is pretty clear. He wants to drastically cut taxes, spend a lot on infrastructure and defense, at least maintain entitlement programs. And more or less not care about huge deficits. Basically Trump is going to turn the Presidency into his own little Ronald Reagan fantasy camp. Admittedly that by itself will be positive for the stock market.

What is not clear to me is what congress and the Fed is going to do.

On the face of it , the Republicans in congress should fight Trump's proposals on the basis of fiscal discipline. Remember Obama proposed a lot of infrastructure spending in 2009/10 and the Tea Party fought him every step of the way. However, my fear is that now that we have a white male back in the Presidency all that spending is going to be ok. I fear congressional Republicans really may be that shallow. But I don't know. Nor do I know what the Democrats are going to do. They are a mess right now. Conceivably the Dems could unite to fight everything Trump tries to do. But also it wouldn't surprise me if some just fold and cave to Trump's policies.

With the Fed I really don't know. At this point they can find a rationalization for anything. And of course it depends on what Congress gets done.

I just read a WSJ article saying that Yellen could raise rates a couple times, but may yet deliberately keep rates low even in the face of huge deficits until the Fed sees a lot of wage inflation. If rates are kept low, AND Trump gets his agenda passed, then I can see the stock market going up in that situation. I don't believe in all the Republican cr%p about "unleashing the power of the free market" through corporate tax cuts and deregulation. But if you throw enough money out there, there is healthy velocity of money, and corporations are allowed to do whatever they want, then its hard for the stock market not to go up.

But there are some people who have long felt that the Fed should have raised rates about 12 times since the financial crises. Trump's policies might cause Yellen to finally agree with them and go on a long, steady tightening cycle. If that happens then I remain in GOI's camp of being on the bearish side.

U.S. stocks were on track to wrap up the week in negative territory as the "Trump trade" that has rallied equity markets since the Nov. 8 U.S. presidential election showed signs of losing steam.

Investors were also cautious of piling into risky assets, such as stocks, ahead of the Italian constitutional-reform referendum on Sunday, which analysts fear could trigger a new wave of financial jitters in the eurozone.

After closing at a record high on Thursday, futures for the Dow Jones Industrial Average fell 24 points, or 0.1%, to 19,173 on Friday.

Futures for the S&P 500 index dropped 4.85 points, or 0.2%, to 2,187.50, while those for the Nasdaq-100 gave up 18.75 points, or 0.4%, to 4,717.75.

The Dow industrials were the only of the three major equity benchmarks on track for a weekly gain, albeit a small one. The S&P 500 fell 0.4% on Thursday, leaving it down 1% for the week so far.

The tech-laden Nasdaq Composite eyed a potential loss of 3% for the week, after a 1.4% slump on Thursday. The significant international exposure among tech companies is seen as making them more vulnerable to the recent rise in the dollar in the wake of Trump's election win last month.

More broadly, however, U.S. stocks, Treasury yields and the dollar all got a major boost following the election on expectations the Trump administration will increase infrastructure spending that will result in higher inflation. But analysts say the postelection rally is nearing an end, with investment guru Jeffrey Gundlach saying the rally sparked by President-elect Donald Trump, dubbed the "Trump rally," is "losing steam." More about that in our Need to Know column today.

The receding Trump rally also weighed on Asian stocks on Friday. European stocks were trading sharply lower, too, with investors staying cautious ahead of Italy's referendum. While the vote is on proposed constitutional reforms, it is generally seen in Italy as a vote of confidence in Prime Minister Matteo Renzi.

If Italian voters reject the proposals--and polls point toward this outcome--analysts fear it would lead to Renzi's resignation and the dissolution of Italy's government.

Economic news: The top-tier nonfarm-payrolls data are due at 8:30 a.m. Eastern Time, and are expected to show that 200,000 jobs were added to the U.S. economy in November. The unemployment rate is forecast to remain at 4.9%, while average hourly are expected to have risen 0.1%.

The employment report usually garners lots of investor attention because it's seen as influencing the Federal Reserve's decision on interest rates.

However, analysts note that the November data won't carry the same weight as usual as a rate hike at the Fed's Dec. 14 meeting is already widely expected.

"Today's U.S. nonfarm payrolls will certainly be the most insignificant release of the year. The performance of the U.S. jobs market in November should have little, if no impact on the Federal Reserve's (Fed) plans to hike the interest rate in December," said Ipek Ozkardeskaya, senior market analyst at London Capital Group, in a note.

"Unless a sizable disillusion that could imperil the Federal Reserve's (Fed) plans to hike interest rates in December, any knee-jerk move on the back of the U.S. data should wane rapidly," she added.

lurn two reed wrote:

Ghost of Igloi wrote:

Now with the 10 Year Treasury is at 2.44% in the past month and his fund is number 7 out of over 1,000 funds.

Nope.

I don't understand how someone who works for Wall Street can lack such basic understanding of mathematics.

Go forth with confidence to managed your E*Trade account.

Sally V wrote:

Reel K5 wrote:

All this time and you still cannot discern the difference in writing styles?

Unable or incapable of learning?

It's very hard to discern. Well, maybe for you. The average intellect would have no such problem.

The styles of the anti-Semite and racist are very similar. It all just sounds like bigotry.

Here we go again with the ad hominems. So I do what I have to do.

Let's see what those people in Israel you defend so much are up to.

Used for crowd control by the Israel Defense Forces, the controversial non-lethal weapon called “skunk” or “skunk water” has been described by Palestinian protesters as “worse than raw sewage” and “like a mixture of excrement, noxious gas and a decomposing donkey.”

Derived from an organic and non-toxic blend of baking powder, yeast, and other ingredients, “skunk” is dispersed as a form of yellow mist that is fired from water cannons.

One BBC reporter described the spray as the “worst, most foul thing you have ever smelled. An overpowering mix of rotting meat, old socks that haven’t been washed for weeks – topped off with the pungent waft of an open sewer… [that you are] not able to get rid of for at least three days, no matter how often you try to scrub yourself clean.”

ryan foreman wrote:

But there are some people who have long felt that the Fed should have raised rates about 12 times since the financial crises. Trump's policies might cause Yellen to finally agree with them and go on a long, steady tightening cycle. If that happens then I remain in GOI's camp of being on the bearish side.

not sure this follows...I believe the stock market has done well in past times when the fed has gradually raised rates off a very low base.

but low number of instances, so who knows.

certainly we just saw longer term rates rise sharply and stocks had no adverse impact.

Yesterday, Trump again promised to significantly rewrite or scrap NAFTA. If he actually goes forward with this trade war crap, I think there is a significant negative risk for the stock market. It will be very tough for many corporations to maintain profits if international trade contracts. Are people just not listening to this part of the Trump agenda? Maybe they think it's just bluster for Bubba that won't be acted upon?