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ARROYO GRANDE, Calif. -- OK, so you're one of millions of investors impatiently waiting on the sidelines, sitting with $2.5 trillion cash under your mattress, waiting for the right moment, that signal screaming: "Bottom's in, start buying!" Yes, it'll go down again, but the bottom's in, thanks to a great March, possibly the third best month since 1950, so it's time to jump back in and buy, buy, buy!
Originally posted by Donny 4 million
I think if you factor in the tremendous effort the administration is putting in, to try to fix this mess. The optimism of the people, and a lot more stable stock market.
Originally posted by rattan1
Originally posted by siryancelot
I honestly can't even waste my time with this thread or the OP. This mess hasn't even begun to get bad. The rally will be short lived......hey, its so great out there, eh? Go tell all those living in TENT CITIES IN CALIFORNIA. I mean, I don't even know where I'd start to correct this false pessimism. We owe more as a nation than ever before. People don't trust the dollar, and why should they. Obama plans to add more spending, just like the last asshole President. Just wait for the HYPERINFLATION. We are much like the Weimar Republic, its eerie.
I sincerely think that those living in the tent cities in Cal would rather hear that they can hope for things to get better for them rather than hearing you.
The Dow Jones Industrial Average rose 216.48 points (2.79%) to 7,978.08, its highest close since Feb. 9. The Dow is up 20% for the last four weeks, which would be the best winning streak over that period since May 1933, when it rose 31%. The broad Standard & Poor's 500 index rose 23.3 (2.87%) to 834.38, also the highest level since Feb. 12. The Nasdaq Composite rose 51.03 (3.29%) to 1,602.63, and is now positive for the year to date with a 1.6% gain. Research In Motion added $3.47 (7.6%) to $49.09. After the bell, the BlackBerry smartphone maker's shares surged as its fiscal first-quarter outlook impressed investors.
Demand for shares in an initial-public offering illustrated how retail investors were eager to get back into the stock market.
Originally posted by rattan1
Many who are still in doom and gloom mode will only watch opportunities slip away....
Originally posted by disgustedbyhumanity
reply to post by cpdaman
The mistake you are making is not realizing just how oversold the markets have become. Most major averages are still down 40% from their highs. Earnings are down no where near that number. Throw out the banks and we are talking 10% down on average. things would have to get much worse in order to even justify current prices. The PTB are determined not to let things get that bad. Thus stock prices move up. Even bad news, that is not as bad as some thought it would be, will have the effect of moving stocks upward. That is just how it works and fighting it is a losing battle.
From April 1932 to April 1933 the markets rose 133% in the face of unemployment which continued to grow to 25%. Why? Because the goverment started throwing money at the problem just as they are doing now.
The Dow Jones Industrial Average gained 39.51 points, or 0.50%, to 8017.59, the S&P 500 rose 8.12 points, or 0.97%, to 842.50 and the Nasdaq Composite picked up 19.24 points, or 1.20%, to 1621.87. The consumer-friendly FOX 50 added 4.61 points, or 0.73%, to 632.18. Led by solid gains for financial stocks such as Morgan Stanley (MS: 24.08, 0.95, 4.11%) and a Research in Motion (RIMM: 59.29, 10.2, 20.78%) inspired tech rally, the markets proved once again to be resilient in the face of the latest dreary economic reports. The end result sent the Dow to its highest closing level since Feb. 9.