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November Stock Talk II Greed is Good

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Prospect
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Posted: #26
15 pts away from dj lows
 
Prospect
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Posted: #27
currently 8168 below the previous low. god help us all
 
Prospect
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Posted: #28
8047 now i think we end lower than the previous low 8175. all bad news + no one wants to invest while no one is buying and hedghogs are selling off.

next week we will rebound, but from what level is the real question.


 
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Posted: #29
rut row
 
Veteran
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Posted: #30
Hedge fund redemptions coming in I would assume until December 31...

I note C now at $8.42, CC's call way back when comes true in spades.

And of course GM should already be in bankruptcy, but the assclowns of Congress will try to "save" them...the circus continues...
 
Covers Linesmen
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Posted: #31
Down 300, who didnt think we would be down 200 plus today?

I laughed last night on 5 Dimes where they had the DOW up at -130

The DOW up should never be juiced..not how the current market is trading.


 
Prospect
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Posted: #32
wow roaring back now -40 only


big rally within 15 minutes
 
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Posted: #33
Quote Originally Posted by WinLoseorDraw:

wow roaring back now -40 only


big rally within 15 minutes

 

I mean seriously... what a joke. Anyone day trading must be just pushing buttons at this moment and hoping.

 
Covers Linesmen
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Posted: #34
I dont think the low today was an intra-day low for the market, I think that day we went under 8k was lower than today.  
 
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Posted: #35

 From Roubini today:

For 2009, the consensus estimates for earnings are delusional: Current consensus estimates are that S&P 500 earnings per share (EPS) will be $90 in 2009, up 15% from 2008. Such estimates are outright silly. If EPS falls--as is most likely--to a level of $60, then with a price-to-earnings (P/E) ratio of 12, the S&P 500 index could fall to 720 (i.e. about 20% below current levels).

If the P/E falls to 10--as is possible in a severe recession--the S&P could be down to 600, or 35% below current levels.

And in a very severe recession, one cannot exclude that EPS could fall as low as $50 in 2009, dragging the S&P 500 index to as low as 500. So, even based on fundamentals and valuations, there are significant downside risks to U.S. equities (20% to 40%).



 
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Posted: #36
I think I saw something on cnbc that the intraday low on oct 10 was around 7882.
 
Prospect
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Posted: #37
IMHO, you people should have bought today.  I got GE at $14.87, BAC at $15, SSO at $23. 
 
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Posted: #38
where is CC? 
 
 
 
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Posted: #39
cctyq now
 
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Posted: #40
 
Covers Linesmen
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Posted: #41
Nice move up, lets see if it continues.



 
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Posted: #42
OK someone tell me what has really changed in the last 5 hours?  Schizophrenic market.
 
Covers Linesmen
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Posted: #43
I think I found why the move came in.

Paulson made the following comments late in the day-

FED has stabilized the banking system

FED says new TARP plan will help banks keep lending

FED says buying illiquid assets not off the table.

THAT sent the market screaming higher IMO
 
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Posted: #44
Well, as to the above, I suppose some people can believe him.But I think Roubini is right in the same article :

Beware, therefore, of those who tell you that we have reached a bottom for risky financial assets. The same optimists told you that we reached a bottom and the worst was behind us after the rescue of the creditors of Bear Stearns in March; after the announcement of the possible bailout of Fannie and Freddie in July; after the actual bailout of Fannie and Freddie in September; after the bailout of AIG (nyse: AIG - news - people ) in mid-September; after the TARP legislation was presented; and after the latest G-7 and E.U. action.

In each case, the optimists argued that the latest crisis and rescue policy response was the cathartic event that signaled the bottom of the crisis and the recovery of markets. They were wrong literally at least six times in a row as the crisis--as I have consistently predicted over the last year--became worse and worse. So enough of the excessive optimism that has been proved wrong at least six times in the last eight months alone.


 
Prospect
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Posted: #45
Quote Originally Posted by wallstreetcappers:

I think I found why the move came in.

Paulson made the following comments late in the day-

FED has stabilized the banking system

FED says new TARP plan will help banks keep lending

FED says buying illiquid assets not off the table.

THAT sent the market screaming higher IMO



I believe now more than ever they are bailing out the auto's. 3-5 million jobs need confidence to spend money at christmas. that paulson is a slick cat. 1-2 punch, get money out to borrow and secure people will have jobs = X-MAS propped up. market can run off of those numbers. X-mas is the biggest indicator of consumer spending. if they dont do there both X-mas numbers will Look awful.  It buys them time to figure out what will really fix our economy or better yet let hank leave treasury on a high note.
 
Prospect
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Posted: #46
Time to load up on EEV and FXP of the market gaps higher Friday. 
 
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Posted: #47
i added some EEV and DUG into the close...
 
Legend
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Posted: #48
IF this rally was just because of some Pat Pauson bullshit, it sure will NOT last long. looked like "scare the bear" short covering from a week or so ago
 
Prospect
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Posted: #49
options expire next week. could be buyers picking up oversold equities and shorts covering before being squeezed.

I think we continue to rally more. not huge numbers like today. what was today an 800 pt reversal just another day in the markets lol
 
 
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Posted: #50
Options expiration is next week
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