It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
EW YORK (Reuters) - Citigroup Inc's and Bank of America Corp's shares rose Monday on hopes that the two banks will post the same sort of first-quarter profits that Wells Fargo & Co forecast late last week.
Citigroup's shares rose 12.5 percent to $3.42, while Bank of America's rose 8.4 percent to $10.35, after Wells Fargo reported on Thursday that it expects to post a record $3 billion first-quarter profit, helped by large mortgage refinancing volume. "People are saying, 'maybe that means banks will be profitable again,'" said James Ellman, president of hedge fund Seacliff Capital in San Francisco, which invests in financial stocks.
Nothing beats the US stock markets for personal business success. You only have 1 employee, yourself.
Originally posted by THX-1138
The answer to your problem is to get more money.
There is some fractal something at work in the money markets, and the same type of movements are created on different time scales on different charts.
I've been staring at the Dow Jones Industrial 10-year chart and the Dollar Euro Index 3-year chart for quite a while and I am thinking that I see a pattern in the Euro, that occurs over about 3.5 months from May 2008 to middle August 2008. A similar movement has been happening on the Dow chart for about 9 years since the high in early 2000 to the point where we are now. On the Euro pattern the second retracement is not as severe as what we have seen recently on our Dow charts, but the two different time periods on the two charts look very similar in movement and achieve similar results. At the end of this pattern I see on the Euro chart there is a huge extended rally. If the Dow plays out a similar movement then the Dow would be rising to something like 17,000 where it would pause before moving on to 23,000.
So at the present time, if the Euro falls dramatically here, the Dollars could be going into the Dow at a fast pace. I think the Euro is about to plummet and help pump up the Dow. Everybody wins, and yet everybody says it is inexplicable. The news and gloomy forums are endless, calling for further downturn and misery. I think the opposite is about to happen. And that is why it will work -- the majority is not thinking of it. Of course, the news will have to explain it the whole way. I think it will be written off as Obama mania.
And the Europeople would get a great deal on the other side of the trade when they want to buy back Euros at a lower price with Dollars that have been multiplied. I think we should tax them for it.
The money falls out of the screen.... on both sides of the ocean!
Originally posted by Walkswithfish
Is this a good sign?
Or could this be a generated false bubble?
It is possible that the wealthy investors will launch a massive sell-off when the Dow reaches approximately 8,500 then the real collapse could happen.
I'd hold on for now, this could just be the eye of the storm, the worst may soon come.
Originally posted by THX-1138
BEVERLY HILLS, Calif (Reuters) - Sumner Redstone, executive chairman of CBS Corp, said on Wednesday that he thinks the U.S. stock market is at the start of a bull market.