dow 25 pts from hitting 10k

Discussion in 'Economy' started by strollingbones, Oct 14, 2009.

  1. strollingbones
    Offline

    strollingbones Diamond Member

    Joined:
    Aug 18, 2008
    Messages:
    65,657
    Thanks Received:
    15,626
    Trophy Points:
    2,190
    Location:
    chicken farm
    Ratings:
    +31,971
  2. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,555
    Thanks Received:
    4,854
    Trophy Points:
    1,130
    Ratings:
    +15,404
    There will be resistance against 10k like we haven't yet seen since the March bottom, I'll bet my coming engagement on it bones.

    Either we retrace hard at this point, or the market eventually gives in to the temptation to take it higher.

    considering that next year, numbers are supposed to start looking good, my bet is that we'll break 10k eventually and never look back until the next bubble bursts.

    Why retrace NOW, when we've got about 6 months to go until we start to hear about added jobs?
     
  3. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    9995.83.......
     
  4. Neubarth
    Offline

    Neubarth At the Ballpark July 30th

    Joined:
    Nov 8, 2008
    Messages:
    3,751
    Thanks Received:
    199
    Trophy Points:
    48
    Location:
    South Pacific
    Ratings:
    +199
    It done hit the barrier. All the greater the coming fall when people realize that the economy is still collapsing.
     
  5. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,555
    Thanks Received:
    4,854
    Trophy Points:
    1,130
    Ratings:
    +15,404
    I call a pullback to somewhere around 9000, and then it takes off past 10k.

    Look at the chart. The only retrace we had was in July, and that wasn't much considering the economic environment we've been in.

    Inflation is driving this market. The Federal Reserve is making a lot of people rich right now. Might as well play along rather than get burned.
     
    Last edited: Oct 14, 2009
  6. Mr. H.
    Offline

    Mr. H. Diamond Member

    Joined:
    Aug 19, 2009
    Messages:
    44,117
    Thanks Received:
    9,265
    Trophy Points:
    2,030
    Location:
    A warm place with no memory.
    Ratings:
    +15,395
    Nice to see the IRA finally bouncing back.
     
  7. eagleseven
    Offline

    eagleseven Quod Erat Demonstrandum

    Joined:
    Jul 8, 2009
    Messages:
    6,518
    Thanks Received:
    1,254
    Trophy Points:
    48
    Location:
    OH
    Ratings:
    +1,255
    Ironic how we react to an insignificant, arbitrary level of a number.

    What does a Dow Jones index of 10,000 really mean for the economy? Nobody can quite say, yet everyone is thrilled that it's over 10,000.

    Humans are peculiar creatures...
     
  8. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,555
    Thanks Received:
    4,854
    Trophy Points:
    1,130
    Ratings:
    +15,404
    That's quite an absolute statement containing strawmen, but nonetheless, the securities market performing well has historically always preceded a recovery.

    This might at least have SOMETHING to do with the excitement.

    That, and all the liberals get to hand the credit directly to Obama.
     
  9. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    wrong again.....shocking...
     
  10. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,555
    Thanks Received:
    4,854
    Trophy Points:
    1,130
    Ratings:
    +15,404
    Makes me wonder if a lot of that stimulus money that has yet to be spent is sitting ELSEWHERE :)eusa_whistle:) right now.
     

Share This Page