Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

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Anonymous
Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

IT'S THE ECONOMY STUPID

NEW YORK (AP) - Wall Street ended Tuesday mixed, with an analyst's upgrade of General Motors Corp. (GM) carrying the Dow Jones industrials to a fresh six-year high and within reach of its best-ever close. Dell Inc. (DELL)'s profit warning put a dent in the tech sector.

[url=http://apnews.myway.com/article/20060509/D8HGH0J03.html]SOURCE[/url]

Lenny
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Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

Paul, That just cant be. Why only this morning, Anderson Cooper was spouting off about how much trouble the economy is headed for. And, he wouldnt have an agenda, would he?

Bob MacGregor
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Crickets

[quote][b]Dow down 260 points in 2 days[/b]

Extending a two-day slide being blamed on inflation worries, stocks continued to plummet Friday with the Dow losing 260 points since Thursday. The loss was one of the Dow's biggest two-day losses since last June. "There was a real nosebleed in the market yesterday (Thursday) and it's somewhat of a follow through on yesterday's selling," Alfred Goldman, chief market strategist at A.G. Edwards, said.[/quote]

[url=http://money.cnn.com/2006/05/12/markets/markets_newyork/index.htm?cnn=ye...? Hello?[/url]

rklindell
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Obviously Bob got out of the market in the fall of '02 and has been seeking to validate his decision ever since. Now that the Dow is up 70% since then, he revels in a 4% decline.

Give me a break!

David Hughes
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I hope you are as optimistic in 6 months Mr. Lindell. Takes about that long for commodity inflation to hit the consumer markets. Today is the early money getting out. The lackluster summer will be the usual summer dole drums and money shifting to infaltionary hedges. Next winter is going to stink.

David Burke
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I disagree. The market will continue to improve. Easy money in real estate is now kaput, and investors need someplace to put their money.

Bob MacGregor
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Actually, Mr. Lindell, I'm not in the market, nor was I in 2002. I was just updating this post. Up one day, down the next. Let's see what the long term trend is from here. The "well within reach of it's best close ever" comment seemed a little premature to me.

David Hughes
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[quote="laMaine.com"]I disagree. The market will continue to improve. Easy money in real estate is now kaput, and investors need someplace to put their money.[/quote]

Lunch at Simone's that the dow will close lower than it did today in 6 months?

cover_maine
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The rally has been in value....for years. We haven't seen anything in really happen in growth. While these moves can be very uneven, it's the big upswing in growth that generally the sign of a market rally getting old.

We are still on a wall of worry.

David Burke
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[quote="David Hughes"][quote="laMaine.com"]I disagree. The market will continue to improve. Easy money in real estate is now kaput, and investors need someplace to put their money.[/quote]

Lunch at Simone's that the dow will close lower than it did today in 6 months?[/quote]

You're on!

Close was 11,380.99

David Burke
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Uh-oh. Dow closes at 11,205.61

JIMV
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Any possibility that the market is realizing that the republicans are in the process of losing the congress to tax and anti business democrats?

cover_maine
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Any possibility that the market never goes in a straight line?

After every big move up (remember 7,200 on the Dow 4 years ago?) it backs and fills. And, yes, JV the uncertainties over politics, inflation, etc can be the things to trigger it.

lesstaxes
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I think Paul posting this message was the ultimate contrarian indicator of a big fall! Hey Paul, let me know when you are selling everything across the board, I will jump in! :lol:

Anonymous
Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

Any possibility that the market is realizing that the republicans are in the process of losing the congress to tax and anti business democrats?

-----------------------------

You have GOT to be friggin' kidding me. It is Republican policies on Iraq, against energy conservation, and worst of all cutting taxes and raising spending, that have gotten us into this mess. I continue to believe that we are absolutely HOSED and that business may welcome a return to fiscal responsiblity via Democrats. (as usual).

As for me, I did get mostly out of the market a few weeks ago and I am staying put for a while Five percent is better than negative four percent any day. It's all funny money for me anyway because it's all tax deferred IRA stuff.

JIMV
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[quote]You have GOT to be friggin' kidding me. It is Republican policies on Iraq, against energy conservation, and worst of all cutting taxes and raising spending, that have gotten us into this mess. I continue to believe that we are absolutely HOSED and that business may welcome a return to fiscal responsiblity via Democrats. (as usual).[/quote]

That is propaganda...I was speaking of real investor sentiment. I suspect a rocky 6 months as the idea of an anti-business tax and spend democrat congress settles in.

Nothing has changed really in the last week and a half except the speach and the Senate political suicide. The idea that a minot change in inflation could cause such a drop after almost 20 fed rate increases is weak to me. The idea that investors see massive tax increases as the democrats are promising, on the horizon does make sense.

lesstaxes
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The market is just trading on fear of inflation, this has nothing to do with politics, elections, etc.

Anonymous
Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

The market is just trading on fear of inflation,
--------------------------------------

Inflationary pressure is mosty coming from increased energy costs, which are starting to percolate throughout the system. ( It's not from wage growth. Wage growth is still lackluster, what we've had for several years is good growth numbers due to increased productivity, but this has not translated into higher wages.)

The U.S. deficit throws a pall over everything. The dollar is in serious trouble and people are starting to eschew dollar investments. People know that even if China simply slows the purchase of U.S. bonds, we will face a financial crisis and will need to pay much more to service our debt. Meanwhile we keep printing money, and there is much talk about switching to a more stable currency franca. Our problems are of our own making.

JIMV
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[quote="lesstaxes"]The market is just trading on fear of inflation, this has nothing to do with politics, elections, etc.[/quote]

That is my point...are you sure? We have had 19 or 20 increases in the fed rate over fears of inflation...the Market has has a short term reaction over most of those but no big drops. The economy is looking pretty good and we are collectng more money in taxes than anticipated so the federal deficit is looking to be almost 200 billion less than planned for.

All of a sudden, a big drop in the market....

Perhaps those covering the issue are not asking the investor class, mostly NOT democrats, the wrong question. Perhaps the possibility of democrat control is spooking some folk. It will require changes in my money planning, why not Wall St?

I am only raising a possibility not raised so far by the old media. If the democrats actualy do what they have said they want to do, the business environment changes big time and not for the better for business.

[quote]The dollar is in serious trouble and people are starting to eschew dollar investments.[/quote]

Normally I would agree withthis, but I seem to recall having read a few international reports over the last week in which the dollar has shown a bump against the Euro and the Yen and Yuan. You are right when you speak of the long term trend over the last few months but right now, over the last week, we have shown strength and the deficit news has been very good indeed over the last month.

I only raise the issue as a possible due to the timing of everything. The last two weeks have seen a stronger dollar, lower deficit predictions, and good employment news. We did have a bad, but anticipated inflation report. Even Gold is down almost $40 this week.

The only real change is the political change where a remote chance of a change of control in congress became almost a certainty with the Presidents speach and the Senate meltdown.

You may poo-poo the idea but imagine a democrat congress...They will immediately try to raise taxes and they will most assuredly not reduce spending on anything but national security. Big economic uncertainty in that.

JIMV
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Gold and Silver dropping like a rock?

If the market fell due to fears of inflation, as the pundits say, why are Gold and Silver dropping fast?

Bad news for inflation always forces Gold the other way.

I think the market is reacting to the new political situation.

lesstaxes
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[quote="JIMV"][quote="lesstaxes"]The market is just trading on fear of inflation, this has nothing to do with politics, elections, etc.[/quote]

That is my point...are you sure? We have had 19 or 20 increases in the fed rate over fears of inflation...the Market has has a short term reaction over most of those but no big drops. The economy is looking pretty good and we are collectng more money in taxes than anticipated so the federal deficit is looking to be almost 200 billion less than planned for.

All of a sudden, a big drop in the market....

Perhaps those covering the issue are not asking the investor class, mostly NOT democrats, the wrong question. Perhaps the possibility of democrat control is spooking some folk. It will require changes in my money planning, why not Wall St?

I am only raising a possibility not raised so far by the old media. If the democrats actualy do what they have said they want to do, the business environment changes big time and not for the better for business.

[quote]The dollar is in serious trouble and people are starting to eschew dollar investments.[/quote]

Normally I would agree withthis, but I seem to recall having read a few international reports over the last week in which the dollar has shown a bump against the Euro and the Yen and Yuan. You are right when you speak of the long term trend over the last few months but right now, over the last week, we have shown strength and the deficit news has been very good indeed over the last month.

I only raise the issue as a possible due to the timing of everything. The last two weeks have seen a stronger dollar, lower deficit predictions, and good employment news. We did have a bad, but anticipated inflation report. Even Gold is down almost $40 this week.

The only real change is the political change where a remote chance of a change of control in congress became almost a certainty with the Presidents speach and the Senate meltdown.

You may poo-poo the idea but imagine a democrat congress...They will immediately try to raise taxes and they will most assuredly not reduce spending on anything but national security. Big economic uncertainty in that.[/quote]

Percentage wise these are not big moves up or down. The market is less volatile now than at any point in its history.

Anonymous
Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

If the market fell due to fears of inflation, as the pundits say, why are Gold and Silver dropping fast?

Bad news for inflation always forces Gold the other way.
-------------------------------------

I think it is just timing. Gold and the dollar parted their usual ways late last year and the big run-up in the price of silver and gold has been based purely on speculation. The bubble burst. Also, people are feeling insecure this past week and they are taking profit from wherever they can get it, and moving into cash.

I am thinking of jumping into stocks with all my reserves at close of business tomorrw. I have not decided yet for certain.

J. McKane
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Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

It's been a good three years.

http://139.142.147.19/StockChart_ImageOnly.dll?cus=0&co=ask&i_chart=0&in...

No real sign that we have topped, yet. This is just a healthy pull back - been a long time coming.

Too bad I haven't mastered the URL link thing yet.

David Hughes
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[quote="David Burke"][quote="David Hughes"][quote="laMaine.com"]I disagree. The market will continue to improve. Easy money in real estate is now kaput, and investors need someplace to put their money.[/quote]

Lunch at Simone's that the dow will close lower than it did today in 6 months?[/quote]

You're on!

Close was 11,380.99[/quote]

bumps the bet as the dow slips under 11,000

lesstaxes
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I still think the market is tanking from the Paul Mattson jinx which I referenced on May 18! :twisted:

Steven Scharf
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I don't think it has been six months.

Steven Scharf
SCSMedia@aol.com

David Hughes
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Hasn't been 6 months, but the news over the last week or so serves to validate my earlier comments.

...and I'd hate to not be able to find the thread in 6 months.

[quote="lesstaxes"]
The market is less volatile now than at any point in its history.
[/quote]

Did you ever yourself why this is?

rklindell
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Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

[img]http://www.kitco.com/LFgif/au75-pres.gif[/img]
Stocks up 11000% since 1975

[img]http://www.kitco.com/LFgif/au0030lnb.gif[/img]
Stocks down just 5% since May

mmmmm.....

David Hughes
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Dow Up 55, Nasdaq Finishes Down 7~Ready to smash records

[quote="David Hughes"][quote="David Burke"][quote="David Hughes"]

Lunch at Simone's that the dow will close lower than it did today in 6 months?[/quote]

You're on!

Close was 11,380.99[/quote]

bumps the bet as the dow slips under 11,000[/quote]

bumps the bet as the dow looks at 11,240...

...and everyone is growing more concerned about a recession in the second half of the year.

Lunch on a Wednesday? I like the 2 hotdogs smothered in a bowl of chillie that's on special on wednesdays.

I should have noted the date, about a week after the election in November......I might lose this on a bounce from the Dems taking back Congress....both houses.

David Hughes
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bump.

dow 11,381
gold 625.90

inventories up, exports up imports down, housing deflating even in the no bubble mid-west, labor unit cost up, business investment in short term goods ( software and equipment ) is falling while investment in buildings is up......

I'm still liking the bet.....wife says any day but Wednesday is good. Something about the special on Wednesday....

David Hughes
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update

dow 11,490

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