Dow and Nasdaq reach two year highs

[Chris]

NEW YORK (CNNMoney.com) -- U.S. stocks seesawed Wednesday amid a widely-anticipated Republican victory and the Federal Reserve's announcement of a second round of economy-boosting asset purchases, but managed to end the session with modest gains, pushing the Dow and Nasdaq to their highest levels in over two years.

The Dow Jones industrial average (INDU) rose 27 points, or 0.2%, to finish at 11,215, the highest since September 2008. The tech-heavy Nasdaq (COMP) increased 7 points, or 0.2%, to close at 2,540, highest since June 2008.

CNNMoney.com Market Report - Nov. 3, 2010

 

[Revere]

Wall Street loves to be propped up by the Fed.

 

[Toro]

The government buying assets does wonders to stocks.

 

[Mad Scientist]

NEW YORK (CNNMoney.com) -- U.S. stocks seesawed Wednesday amid a widely-anticipated Republican victory and the Federal Reserve's announcement of a second round of economy-boosting asset purchases, but managed to end the session with modest gains, pushing the Dow and Nasdaq to their highest levels in over two years.

The Dow Jones industrial average (INDU) rose 27 points, or 0.2%, to finish at 11,215, the highest since September 2008. The tech-heavy Nasdaq (COMP) increased 7 points, or 0.2%, to close at 2,540, highest since June 2008.

CNNMoney.com Market Report - Nov. 3, 2010

Is that what printing money is called now? "Economy Boosting Asset Purchases"?

I hope we're not completely fcuked.

 

[Dont Taz Me Bro]

This action by the Fed could devalue the dollar by 20% over the next few years.

News Headlines

Bernanke needs to be fired. Hopefully with Republicans controlling the House Ron Paul will be able to get his audit the Fed bill up for a vote now.

 

[Sallow]

This action by the Fed could devalue the dollar by 20% over the next few years.

News Headlines

Bernanke needs to be fired. Hopefully with Republicans controlling the House Ron Paul will be able to get his audit the Fed bill up for a vote now.

Why?

It makes perfect sense. Bush, along with his other messes, handed the Obama administration a 0% interest rate.

You realize how completely incredibly bad that is?

Have a look..

The Fed's Zero Rate Policy Is Destroying America

 

[topspin]

removal of tax uncertainty will raise the market a lot higher.

 

[william the wie]

I'm riding this bubble.

 

[Trajan]

This action by the Fed could devalue the dollar by 20% over the next few years.

News Headlines

Bernanke needs to be fired. Hopefully with Republicans controlling the House Ron Paul will be able to get his audit the Fed bill up for a vote now.

Why?

It makes perfect sense. Bush, along with his other messes, handed the Obama administration a 0% interest rate.

You realize how completely incredibly bad that is?

Have a look..

The Fed's Zero Rate Policy Is Destroying America

and of course, why doing anything about it?


....so who owns it now? whats the half life on the bush BS....for christ sakes he just had his first midterm, is he ever going to have to stand tall for anything? by 2012 maybe?

 

[Sallow]

I'm riding this bubble.

Well my 401k is still in..

But I closed my private accounts to re-model.

Damn.

 

[uscitizen]

Further proof that the market is not very closely linked to employment.

 

[Sallow]

This action by the Fed could devalue the dollar by 20% over the next few years.

News Headlines

Bernanke needs to be fired. Hopefully with Republicans controlling the House Ron Paul will be able to get his audit the Fed bill up for a vote now.

Why?

It makes perfect sense. Bush, along with his other messes, handed the Obama administration a 0% interest rate.

You realize how completely incredibly bad that is?

Have a look..

The Fed's Zero Rate Policy Is Destroying America

and of course, why doing anything about it?


....so who owns it now? whats the half life on the bush BS....for christ sakes he just had his first midterm, is he ever going to have to stand tall for anything? by 2012 maybe?

I'll use a quick analogy to help you understand.

Took about a decade to build the WTC.

Took about 3 hours to knock them down.

That was about a decade ago..and they still ain't back up.

 

[william the wie]

Further proof that the market is not very closely linked to employment.

pinqy will be defending UE figures that do not pass the smell test whe the DJIA hits 15-20K in April-June and I still be wondering WTF as I buy straddles all the way up and eventually down.

 

[LordBrownTrout]

I may have to follow william the wie's logic and get all in on this bubble, cash out before the fed quits pumping blood in to the corpse, and buy something tangible ie land in the mountains.

 

[william the wie]

I may have to follow william the wie's logic and get all in on this bubble, cash out before the fed quits pumping blood in to the corpse, and buy something tangible ie land in the mountains.

I am in on dec. 11 115 spx with 1/8 of my stake. The only time I go all in on anything is when I am faced with a stone cold certain large win vs. a stone cold certain small win as the alternatives. 100 year financial floods have happened 4 times in the past 20 years. Insane levels of leverage is not just a talking point. Therefore I buy both puts and calls. Two requirements have to be met for me to short options: a) no one is selling so I can't buy b) I have existing in the money options with the same expiration date. Technically that is going all in but as a practical matter it isn't. Going all in is a bad idea.

 

[Chris]

Everyone who has bet against America in the long run has lost.

 

[william the wie]

Everyone who has bet against America in the long run has lost.

And the great fortunes are made betting against the competence of American investors.

 

[edthecynic]

removal of tax uncertainty will raise the market a lot higher.

The Bush tax cuts were in effect all the years of the Bush Depression, since they didn't help in 2007 while it was certain they would be in effect until 2011 they won't help if they were certain to be in effect till 3011.

 

[iamwhatiseem]

This action by the Fed could devalue the dollar by 20% over the next few years.

News Headlines

Bernanke needs to be fired. Hopefully with Republicans controlling the House Ron Paul will be able to get his audit the Fed bill up for a vote now.

Why?

It makes perfect sense. Bush, along with his other messes, handed the Obama administration a 0% interest rate.

You realize how completely incredibly bad that is?

Have a look..

The Fed's Zero Rate Policy Is Destroying America

The interest rate went into a steeep decline after 1984, most of that due to an adjustment from steeeep rises in the late 70's and earliest 80's.

The interest rate has been in direct correlation with US debt. The more debt America took on, the lower the interest rates went until finally it bottomed out.
It will likely be this way for 20 years or longer.

 

[washamericom]

just a reminder, another black friday is coming soon, and i don't mean the day after thanksgiving...