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Varchild2008 (85.29)

So What Happened today?

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May 02, 2011 – Comments (8)

Can anyone tell me what all the Hubub is about?  People acting all funny like something big happened or something....  But, I am looking at the Stock Market close and it is obvious to me nothing much happened at all.  Another hum drum ho hummity hummity hum hum hum day in Wall Street.

Dollar still down...

Oil Prices pair losses to close around $113 a barrel...

DOW, S&P, NASDAQ trade lower...

(F) Ford Motor Company slips 2 cents despite April Sales News looking as strong as March was.

(GM) up 9 cents on same news...yawn

Chrysler produced their first profitable quarter since bankruptcy but pretty much the entire automotive stocks fell asleep..

(GME) Gamestop shoots up 71 cents in the open but closes up 10 cents.   yawn.....

(AAPL)  Trades down $3.85.....signalling what? No more iPhone calls to Osama Bin Laden by Al Queda sleeper cells in North America? ?  or what?

Welp..... I guess investors went from Exuberant over something that happeend ....and ended the day down in the dumps over Auto Production Slumps expected in May/June..and higher commodity costs still....well....being higher.

My Advice?    WAKE     *************************               UP  ************************************

Let the morons sell in May and Go away while you gobble up stock like a crazy man living his last days doing what a crazy man loves to do....and that is buying stock in great companies while the market prices them cheaper for you.

8 Comments – Post Your Own

#1) On May 02, 2011 at 5:11 PM, Seano67 (85.55) wrote:

I agree. Mostly another normal market day, though I did quite well due to ICO being bought out by ACI at $14.60 per share. :)

That turned out to be a sweet little multi-bagger for me, as my cost basis on ICO was $4.06, so that was really, really cool. It also helps ease the portfolio sting I've suffered due to my Chinese stocks tanking so terribly over the past 6-8 months.

Now I've got to figure out what to do with my ICO $$$$. Hmmm, I don't know. I'm thinking UAN, which I am finding to be uber-intriguing, but I may just sit and hold onto the cash money for awhile and see what happens. 

 

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#2) On May 02, 2011 at 5:20 PM, Varchild2008 (85.29) wrote:

How about a new Ford Mustang?  (just kidding around)

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#3) On May 02, 2011 at 5:24 PM, ajm101 (31.90) wrote:

Because the best way to judge the importance of an event is the impact it has on the performance of the stock market?

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#4) On May 02, 2011 at 5:41 PM, Varchild2008 (85.29) wrote:

Welcome to the Stock Market ajm101!

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#5) On May 02, 2011 at 6:19 PM, ajm101 (31.90) wrote:

"Honey, I know it's our anniversary, but the S&P 500 was flat today.  The market is clearly telling me your expectation of flowers is irrationa.."

I'm just saying...first of all, important events can have minimal financial impact.  second of all, to quibble, the market doesn't measure 'importance' of news, it measure the degree to which the news was anticipated.

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#6) On May 02, 2011 at 10:07 PM, sajahmeoli (61.59) wrote:

The market also determines the degree to which the news actually has an impact on the factors with which the market is tracking.

Wars are not over, we are still hurting ourselves with various artificial on oil exploration/development and the dollar keeps taking a beating from Bernanke and crew.

So the marked shrugged off the news as being relatively unimportant.

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#7) On May 03, 2011 at 1:39 AM, awallejr (83.92) wrote:

Actually I was thinking Ford mustang or Caddy CTS coupe.

As for near term, who knows.  Maybe sell in may and go away, but then May did pretty good in 2009 so maybe it skips a year.

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#8) On May 03, 2011 at 3:23 AM, SweetMircha (93.63) wrote:

Why not a Ford Fiesta and, the rest put back into a nice dividend paying stock like EPD?

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