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Banks Act, Stocks Surge and Skeptics See a Pattern

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groovedaddy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-01-11 12:28 PM
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Banks Act, Stocks Surge and Skeptics See a Pattern
A move announced by central bankers on Wednesday to contain the European debt crisis resulted in euphoria in global stock markets, but it also prompted skeptics to wonder: will this time be different?

As the crisis has worsened over the last 18 months, pronouncements of plans to fix the euro zone debt problems have led to more than a half-dozen rallies that just as quickly withered as the proposals fell short of hopes.

Wednesday’s rally was among the biggest yet, with the three main indexes on Wall Street rising 4 percent or more, and the Dow Jones industrial average rising 490.05 points, its largest gain since March 23, 2009. Still, some analysts warned that the central banks’ action addressed only some symptoms of the euro financial crisis, so this rally, too, could evaporate.

“It helps to prop up the banks for a while which is going to buy time for Europe to fix the problem,” Burt White, the chief investment officer for LPL Financial, said. “This is basically a Band-Aid.”

http://www.nytimes.com/2011/12/01/business/daily-stock-market-activity.html?nl=todaysheadlines&emc=tha25
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qb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-01-11 12:54 PM
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1. They're like drug addicts... flitting from one cheap thrill to the next.
:banghead:
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DCKit Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-02-11 12:38 AM
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2. Pump it up, take out the profits. sit it out. Pump it up, take out the profits, sit it out.....
Rinse and repeat.
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-03-11 01:35 PM
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3. Pump and dump is a strategy, not a "pattrern".
It's deliberate, intentional.
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