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Originally posted by cpdaman
and when the commercial real estate collapse takes down the small and medium size banks the larger institutions may be able to power grab big time....
Originally posted by pavil
Originally posted by rattan1
We are at a turning point guys. As I said many more good news will come.
Ok, I'll bite. Give me three other indicators that we are at a turning point for the positive. What is good for Wall Street isn't necessarily good for Mainstreet. Please be specific. I see that foreclosures rose in Feb. over 30% from Feb. 2008 Levels, that must be good news eh?
Nevada, Arizona, California and Florida had the nation's top foreclosure rates. In Nevada, one in every 70 homes received a foreclosure filing , while the number was one every 147 in Arizona. Rounding out the top 10 were Idaho, Michigan, Illinois, Georgia, Oregon and Ohio.
US stocks rose for the third straight day on Thursday and the Dow Jones Industrial Average at one point added more than 250 points as comments from Bank of America's chief executive and gains in General Electric helped prop up the market.
The blue-chip index jumped 239.66 points (3.5%) to 7,170.06, marking its first three-day advancing streak since the three days that ended Jan. 28. The index has gained 9.5% in last three sessions, its best three-day performance on a percentage basis since Nov. 25.
Shares of Citigroup rose 13 cents (8.4%) to $1.67 while JPMorgan Chase was up $2.80 (14%) to $23.20. Both banks have said they were profitable in January and February
The Standard & Poor's 500 index rallied 29.38 (4.1%) to 750.74. The Nasdaq Composite tacked on 54.46 (4%) to 1,426.10
European shares rose for the third straight session on Thursday as drugmakers advanced and banks shrugged off some early weakness. The pan-European Dow Jones Stoxx 600 index added 0.7% to 167.36, bringing gains made since the start of the week to roughly 5%. Gains were on the small side with investors unwilling to take big risks in current markets. On regional markets, the French CAC-40 index rose 0.8% to 2,694.25, the German DAX 30 index climbed 1.1% to 3,956.22 and the UK FTSE 100 index rose 0.5% to 3,712.06. Drugmakers rose in Europe, with Roche Holding shares up 1.3% in Swiss trading.
Comments by the Bank of America's chief executive Kenneth Lewis, that he's confident his bank will pass the US Government's stress test, has also helped to lift sentiment.
Oil has jumped more than 6 per cent, lifting energy shares, as strong loan data from China led to speculation of a resurgence in global growth.
Originally posted by rattan1
Your indicators are all historical Data
You should look at what is Happening Now and Future:
Still don't believe me?
Originally posted by rattan1
The Economic Meltdown is over….. Time to make some money. The announcement made by Citigroup and the way the market has reacted has marked the End of the Economic Meltdown.
Stop listening to all those Doom and Gloom People and cease the opportunity in front of you to make some Money. How many doom and gloom predictions made here on ATS ever came true and why should it be different for this one?
The rapidity with which the stock market will recover will stun many. Share prices are still at a bargain so just buy as much as you can and watch it all grow and make huge capital gains.
Don’t waste your money stockpiling on Food and ammunition…the dream of doom is not going to come true for some here. Citigroup announcement is just the beginning and many more will come.
For all those that don’t believe me will only see everything unfold before them and curse themselves for all the missed opportunity.
So people please forget about all the Doom thing( will never ever happen) and cease the opportunity NOW.
Citigroup Inc Chairman Richard Parsons said on Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands. Asked in an interview with Reuters whether Citigroup needed additional government capital injections, Parsons said: "No, I think actually, particularly with the latest conversion... Citi is actually one of the better capitalized banks in the world."
General Motors Corp (GM.N) has told U.S. officials that it can survive through March without the additional $2 billion in emergency aid that it first requested, the automaker said on Thursday. GM said in a statement that it had been able to defer the first tranche of its aid request after stepping up the pace of planned cost-cutting and holding back on some spending that had been planned for January and February. Shares of GM rose 9 percent to $2.03 after the announcement.
Originally posted by audas
Hey op im confused - did you say cease or seize this economic opportunism - I mean the fact you "cant use words good but" seems to leave me underwhelmed.
Originally posted by Iago18
I was under the impression that this was going to start in May, but, this could be the beginning. If you want to get rich, get in now, make your money, and sell off in a few months when things go south. The problem is, things will go south quickly. I'd say it would be a matter of days/weeks. So, maybe it would be a good idea to get back in the water, as long as you know you can't stay in very long. Vigilance!
BANK of America's top executive said overnight strong profits are on the horizon, in the latest upbeat comments for a sector on the ropes in the deep global financial crisis. Chairman and chief executive Kenneth Lewis told executives the struggling banking giant would generate nearly $US50 billion in profit this year, excluding tax and charges, on revenue of $US100 billion. "That kind of cash flow can solve a lot of problems, given time and an improving US economy," the BofA chief executive said, according to the text of his speech released by the bank.
Originally posted by epete22
reply to post by rattan1
you have a lot of nerve to make a statement like that. 44% of my 401k was lost. The stock market has two ok days after months of tanking and citigroup stock jumps 40%..
And you make this asinine statement?
You don't make money in the stock market. This isn't a get rich quick scheme.
The stock market is a game, just like black jack at a las vegas hotel. The odd's are always in the bankers favor. 90% of the companies in the stock exchange are valued 40x more than they were worth.
i just cant even fathom why you would make that kind of statement.