Holy crap.....the DOW is UP 383!!!

[a kennedy]

I usually post when it tanking....this is kinda nice....and I know it'll change tomorrow.

[Liberal_in_LA]

1. This thread was neg reccd in record time. I wonder why

[Warpy]

2. It'll roll off before the close, too

but I'll be sure to check my portfolio tonight. It will be fun to be rich for a day.

[tblue]

3. Wish I had something to sell! nt

[aquart]

4. Why?

[elleng]

10. Agreement in Europe.

http://www.nytimes.com/2011/10/28/business/global/in-rally-over-euro-deal-relief-mixed-with-wariness.html?hp

and MAYBE U.S. GDP, but prolly not too much imo:


http://www.nytimes.com/2011/10/28/business/economy/us-economy-shows-modest-growth.html?hp

[Shagbark Hickory]

5. Yay! Obama saved the economy!

I knew he would.

[elleng]

13. Merkel+ did.

http://www.nytimes.com/2011/10/28/business/global/in-rally-over-euro-deal-relief-mixed-with-wariness.html?hp

[0rganism]

18. if the DOW were down 300 points, the MSM would be blaming Obama

so we may as well sing his praises when it goes up.

[eridani]

36. How about doing neither, since ups and downs are not relevant to the real economy. n/t

[elleng]

6. Pleased about apparent 'resolution' in Europe,

Happy the ADULTS are able to address serious issues seriously (UNLIKE some other places.)

[louis-t]

7. Everything is so automated now.

So many have software that shows what the "big investors" are doing and mimics them.

[edhopper]

8. GDP is better than expected

and Europe offers a solution that doesn't completely suck, at least to investors.
Should be a good 4th quarter, but after that....?

[nadinbrzezinski]

9. European banks and rescue package

Same thing in Europe

[ClarkUSA]

11. Gallup reported unemployment dropped significantly for the second month in a row to 8.3% today.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x807012

[kentuck]

12. Europe...

The Euro has been saved.

[Roland99]

14. Hopium-inspired melt-up. won't last long...can't last long.

[dmallind]

20. Read the same things two plus years ago. How long is long to you?nt

[Roland99]

21. It's been, what, a month? As soon as the European "rescue" is uncovered for what it is...watch out.

two months? three, tops?

European banks have 8 months to increase capital by $150 billion but Germany needs more than that on its own!

They need nearly $2 Trillion (US) to recapitalize to get their leveraged ratio down to even 13:1
http://www.zerohedge.com/contributed/greek-deal-pointless-european-banks-need-trillions-new-capital


Guess they'll be chasing "Chopper Ben" in the race to the bottom to devalue their currency.

[dmallind]

26. Nope - read the dead cat bounce meltdown schtick at 8k, 9k, 10k and 11k too not just EU rescue. nt

[Roland99]

27. Because the markets are constantly feeding off the rumors.

Greece's default has been delayed and delayed and delayed again. It's still not over.

Add in that mutual fund outflows are huge and with HFT algos involved and weak volume, it's obvious this rally has no standing.

We're very likely looking at the right shoulder forming.

[dmallind]

29. So no doubt you've put a fortune into shorts then? If not why not?

And nobody had heard of Greece beyond a tourist destination and the butt of sheep jokes when doomers first started calling "sucker rallies" 4000 pts ago or so.

[Roland99]

34. You must not wade into the Stock Market Watch thread in LBN or other financial resources

like ZeroHedge, Nouriel Roubini, Daily Reckoning, calculatedrisk, etc.

the problems with Greece have been known for a long time...just largely ignored by the M$M (and the ECB)


As for shorts...they've pretty much all been squeezed out at this point. Although, being long in this rally wouldn't be a prudent move.

[A HERETIC I AM]

37. LOL!

"the Stock Market Watch thread in LBN or other financial resources"


LOL...The SMW thread is a Financial Resource?!?


Yeah. Sure.

It is what it is, and it is several things but a "resource" ain't one of them.

What I find so amusing about that little group of self appointed "watchers" is NOT ONE OF THEM called the bottom in March of '09.

Not one. They call all sorts of tops (all the time, in fact) but never any market bottoms.

[dmallind]

39. To be fair, neither do their doomer heroes like Kunstler and Roubini. nt

[Roland99]

44. Just like all the CNBC morons who keep calling the housing market bottom?

It's hard to call an actual bottom, esp. the way the markets reply on a whiff of a rumor and shoot up 400pts on nothing.

[Roland99]

45. And, yes, the SMW is a resource...there's a wealth of info collected there each day

as well as other sites.

Doesn't take much to realize the markets, if not 100% rigged, are at the very least stacked in favor of HFTs and the big investment houses, not the average guy putting 2-3% of his salary into a 401(k)

[A HERETIC I AM]

46. Bollocks. It's a coffee klatch.

Sure, I'll give you that fact that the regulars collect articles, but that doesn't make it a resource. It makes it a coffee klatch.

Thomson Reuters is a resource. Bloomberg is a resource. Morningstar is a resource. The SMW thread is a tiny, close (and closed) knit group of sycophants who have over the years, constantly and consistently misinterpreted basic information on securities and how they work and REGULARLY belittle anyone new who happens to wander in there and state an opinion contrary to the running meme.

You had and have regulars in there who, on a regular basis, insult the rest of the DU membership in numerous ways, including suggesting that anyone posting in GD on financial matters that goes against what is preached in that thread is somehow part of an "echo chamber" (a phrase I have seen used in that thread repeatedly)

If the market goes down, it is what it should be doing.
If the market goes up, it is the "Plunge Protection Team" swooping in and saving the day.

If the market goes down, the smug, self important sentiment of that little group is "See? WE told you so"
If the market goes up, it is "Hedge funds gone wild" (As a thankfully long gone regular used to say every time such an event occurred) or it is the result of, as you mentioned, the markets being simply rigged or the result of rumors.

Unfortunately for most of the casual readers of that thread, a fair percentage of the regular posters on it wouldn't know preferred stock from livestock, don't understand how the bond market works and can not or will not grasp how the Federal Reserve conducts itself.

It's a coffee klatch. And it is a PRIVATE coffee klatch. And woe unto the poor sap who happens to wander in there and say the wrong thing. That group will run him or her off, tut suite. I've seen it happen, over and over.

[banned from Kos]

48. Best rant I've ever read here. And the Doomers at ZeroHead who stuck with FAZ

calling all the banks "zombies" while the bank index doubled are the most clueless broke idiots I have ever seen.

[A HERETIC I AM]

49. Thanks.

What amazes me about so many on DU who comment on the market is that they always seem to give the advice to get out when things are bad, but never buy when things are cheap.


"Buy what's cheap. Sell what's expensive". Best investing advice I ever heard.

[dmallind]

38. Or I simply take perpetual doomers with a pinch of salt. Shorts all "squeezed"? Utter tosh! nt

[1776Forever]

15. Too bad this doesn't mean "good times" for everyone - Not just those with stocks in their pockets.

I have nothing against someone making money - just like to see those at the bottom get a break too.

[a kennedy]

24. and my retirement fund, not a lot, but what little I have is happy

:bounce:

[ClarkUSA]

16. "U.S. economy grew since July at fastest rate in a year"

http://www.dailymail.co.uk/news/article-2054206/Wall-Street-surges-Euro-bailout--China-prepares-foothold-Western-economy.html

[Dover]

17. Well it's kind of like a ship sailing in very rough seas....up and down.

But just because a wave has lifted it up momentarily doesn't mean it's out of danger.

[FBaggins]

19. That's 15% in about three weeks.

You may not have posted for awhile. :)

[JoePhilly]

22. Obama hates Business!!!! ..... wait, what??? Never mind.

The right wing babbling that Obama is a socialist who hates business will struggle with this.

[moondust]

23. We're all gonna be rich!!!!

Or not...

:rofl:

[KT2000]

25. This is the setup for

another one of their sweeps. A select few will no doubt sell off bundles and clean up leaving the casual investor wiped out again. They seem to be happening more frequently.
Hope I am wrong though.

[dmallind]

28. So the casual investor should do the same thing no?

Timing absolute peaks and troughs is a fools errand but it doesn't take a Soros brain or a Soros wallet to say "geez these guys manipulate the DJIA up to 12 and then back down to 10.5 again and again to catch suckers - so why don't I put in standing orders to buy and sell index funds at that level".

[KT2000]

41. Their computers

are faster than yours.
You don't have a chance. You have to trade big orders fast.

[white_wolf]

30. Why do I suspect this will help the rich while hurting the working class?

I'll be very curious to see how the people of Greece feel about this, if it is accompanied by more austerity they will likely be very angry, and rightly so. For sake of clarity I should point out that I was referring to the rescue packages passed in Europe.

[sarcasmo]

31. Up on the news from Europe.

[BOG PERSON]

32. i guess those trading-computers are in a really good mood today, huh?

[Mnemosyne]

33. Does this mean a freakishly large drop soon? I don't gamble, but it seems to work

that way.

[dmallind]

40. And in reverse too, or we wouldn't be up 50%+ in a bit over two years. nt

[Dover]

35. Oh joy! Can't wait to get back to the status quo! ..n/t

[donheld]

42. And this helps who?

[Nye Bevan]

47. Me. My 401k, at least. (nt)

[Amonester]

43. And this planet will be able to sustain human life 383 days

LESS

Than it did yesterday

Why should I feel better?

[Imajika]

50. Interestingly enough, since OWS began...

...the bulls have been running wild on Wall Street and we just had perhaps the best month in decades.