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| Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
03-23-2009, 05:47 PM
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#1
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,501
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Market up nearly 500 points.
-spence
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03-23-2009, 05:51 PM
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#2
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,719
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Quote:
Originally Posted by spence
Market up nearly 500 points.
-spence
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good to see, but it is only one facet of many forces.
the fundamentals of our economy are still broken. Jobs are still being exported overseas and housing prices are still faltering. |
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03-23-2009, 06:30 PM
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#3
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Registered User
Join Date: May 2008
Location: Mansfield, MA
Posts: 5,238
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Quote:
Originally Posted by Nebe
good to see, but it is only one facet of many forces.
the fundamentals of our economy are still broken. Jobs are still being exported overseas and housing prices are still faltering.
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Agreed. Just like the days the market generally went up a little bit after a massive 300+ points down day, I'm willing to bet investors will be cashing in tomorrow or the next day and we'll have another 100+ point down day.
But, the market is impossible to predict; I'm just shooting from the hip and guessing. |
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03-23-2009, 06:39 PM
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#4
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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There are some troubling aspects to be aware of. For one thing I've never trusted market moves that are obvious responses to specific news. And this advance, deserving as it probably was, was emphatically in direct response to something that has been in short supply lately--good news. Good news has a tendency to attract too high a proportion of suckers.
Secondly, a flashy advance of this kind goes hand-in-hand with dramatically increasing volume. Today, volume was actually down in the Dow's 497 point advance. It was down on the advances in the SP-500 and NYSE Index. It was down only a little for the Nasdaq Brothers, but it was down just the same.
Elevator to 7400 please
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03-24-2009, 05:55 PM
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#5
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Registered User
Join Date: May 2008
Location: Mansfield, MA
Posts: 5,238
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Quote:
Originally Posted by JohnnyD
Agreed. Just like the days the market generally went up a little bit after a massive 300+ points down day, I'm willing to bet investors will be cashing in tomorrow or the next day and we'll have another 100+ point down day.
But, the market is impossible to predict; I'm just shooting from the hip and guessing.
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Or I could be 100% correct.
7,660.21 -115.65 / -1.49% |
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03-24-2009, 05:58 PM
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#6
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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The rest of the downward trend will be tomorrow after the speech.
Elevator going down to 7400
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03-24-2009, 07:34 PM
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#7
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Old Guy
Join Date: Oct 2004
Location: Mansfield, MA
Posts: 8,760
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This was a distinctly negative day. All eight Important Averages were down (averaging, as I said above, -2.52%). All 16 Breadth Groupings were Super-Decisively Negative.
Today's Dominant PV Relationship was PDVD (1897 stocks), which is the thematic relationship of falling markets. They are just being themselves.
On a five-day basis, the bullish PUVU relationship has been giving ground for the last seven days, but it remains Dominant over the other relationships so far. However, it is holding on by a thread, with the bearish PUVD relationship breathing down its neck on a five-day basis.
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