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miteycasey (99.89)

What's going on???

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August 27, 2010 – Comments (5) | RELATED TICKERS: NUT , IT , CH

The DOW is up 100+ points with QE 2.0 coming. I don't know what they think this is going to do after QE 1.0, 1.5, 1.666 all barely moved the needle positive. I'm guessing the gov will say that at least it didn't go negatively.

With that said my nut itched so I scratched it. 

I wish people would admit they have zero clue what's going to happen, stop predicting the future, and get a real job. 

Oh wait that means the Pres would return to being a lawyer....the guy just can't win.

5 Comments – Post Your Own

#1) On August 27, 2010 at 2:31 PM, cbwang888 (27.38) wrote:

Long term T-bonds are plunging...

Gold and silver are still strong. Hyperinflation is coming ...

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#2) On August 27, 2010 at 2:35 PM, leohaas (98.77) wrote:

Where did you get your data? I understand many here don't like QE, but partly because of it, we averted a depression and the stock market gained 70%.

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#3) On August 27, 2010 at 4:30 PM, jason2713 (< 20) wrote:

Every data point coming out is negative, yet we rally almost 2%.

It's almost a joke.  But let me guess - "it's priced in"

1.6% is not a convincing beat to a bar that was set way too low.  They are slashing from 2.4% to 1.3% or 40%?  So we only slash 30% of initial projection, that's all.

The bounce was due, but not at 2% bounce.  Entirely over done.  I sold my shorts this morning when we went negative, rebought when we went about +5 on S&P.  Who ever would have though we'd go up another 12 points?  I'm speechless.  Basically lost all my winnings for the week...back the the drawing board.

 

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#4) On August 27, 2010 at 4:39 PM, Dow3000 (< 20) wrote:

Jason, welcome to a very manipulated market...doesn't change the overall direction though...we are going way way way down.

 leohass, I wonder why you think printing money helps an economy...I implore that both use common sense and learn real history before spreading around this ridiculous and dangerous myth.  May I suggest you check out the Mises Institute or Zerohedge.  Also, you are probably not looking far enough back to find a precedent.  Our current situation is similar to the ending of the British empire...

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#5) On August 27, 2010 at 4:47 PM, jason2713 (< 20) wrote:

I think the market is comical.  I was bracing for a rally, on any good news item that comes out...but we never got that good news item.  Employment numbers were again horrible...GDP numbers were way worse than I even projected.

To me, today's rally would have been expected if we got 2% GDP growth, a convincing beat.  Heck, I'd even settle for a 1.8% GDP number to justify this huge rally, I knew the bulls were just itching to buy,buy,buy.  

I'm just speechless.   What can you do but go back to the drawing board?  Next time I have a feeling a rally is coming(and I've been feeling it coming), I'm just going to sell my shorts, sit on cash, and let it happen.  Lesson learned.  I should have stuck to selling my shorts this morning, taken my 6% gain for the week, and been done with it.  Bleh.

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