Oil is down to $44/barrel and gold is down 5%, although the Dow is up 9% for the week to 7,224.

You just can't predict what's going to happen

When the OP started this thread, we all argued that we can’t say there is a turnaround based on One day of gain on the stock market. Since then, the market had 4 days consecutive gains closing the best week for all three major indexes since the week ended Nov. 28.

Could the OP be right?

Originally posted by biomehanika
When the OP started this thread, we all argued that we can’t say there is a turnaround based on One day of gain on the stock market. Since then, the market had 4 days consecutive gains closing the best week for all three major indexes since the week ended Nov. 28.

Could the OP be right?

A 10 year bubble-based bull market corrected by 4 days of gains - two of those days being small gains?

Sold to you, my friend. Sold to you.

From now on I will be posting the I TOLD YOU SO for all those who criticized me:

US Stocks Surge Unexpected strength in the housing market helped JPMorgan Chase and other banks continue their recent resurgence on Tuesday and, along with a rally for technology and consumer stocks such as Apple, brought US stocks to their highest levels in about a month. An unexpected jump in housing starts in February and signs of inflation eased worries about the worst-case scenario of another deflationary "depression." The Dow Jones Industrial Average rose 178.73 points (2.48%) to 7,395.70, its fifth gain in six sessions and its highest close since Feb. 19. The broad Standard & Poor's 500 added 24.23 (3.21%) to 778.12, also its highest since Feb. 19. The Nasdaq Composite surged 58.09 points (4.14%) to 1,462.11, its highest close since Feb. 18. JPMorgan Chase was the strongest gainer on the Dow, adding $2.05 (8.9%) to $25.14; it is up 68% from its low in early March. Citigroup added 18 cents (7.7%) to $2.51, its highest close since Feb. 25, and more than double its March low. Home construction surged by a seasonally adjusted 22% in February, as apartment construction soared and single-family home building edged higher, according to the Commerce Department.

We've started on another bull run, from this point up, for about another 8 or 9 years like the late 90's. You've got to believe and buy in with your excess cash. Don't stop those contributions.

This will be the one Jim Cramer will never live down. He is going to look like a fool for telling people to take all their money out of the market. He will be discredited like a wacko conspiracy nerd just in time for his retirement.




[edit on 18-3-2009 by THX-1138]

Here we go:

The Federal Reserve's decision to bring down interest rates by buying long-term Treasuries and more mortgage securities helped financial institutions such as American International Group and Bank of America, giving the Dow Jones Industrial Average a more than 90 point gain. Shortly after 2:15 pm EDT, the Federal Reserve said it will buy up to $300bn in longer-term Treasuries and raise the size of lending programs already aimed at reducing mortgage rates by another $750bn. The commitment to buy Treasury securities and additional mortgage-related debt should mean lower rates for a variety of business and consumer loans. By buying Treasuries, the Federal Reserve is increasing the amount of money in the system in a similar fashion to cutting interest rates. That likely means another decrease in mortgage rates and more favourable rate spreads for banks. Banks will now be able to borrow money more cheaply, leaving more room for a profit. Also, the value of "toxic" mortgage securities will likely benefit from the Fed's purchases in that market. Citigroup, the leading gainer on the Dow, added 57 cents (23%) to $3.08, and has now more than tripled in value since its low in early March. Still, Citi is off nearly 90% from this time last year. Among other banks, Bank of America added $1.40 (22%) to $7.67, its highest level since January.Shares of government-controlled insurer AIG, which also has large exposure to mortgage securities, surged 42 cents (44%) to $1.38, and has more than tripled from its low.Overall, the Dow rose 90.88 points (1.23%) to 7,486.58, its highest close in a month. The S&P 500 added 16.23 (2.09%) to 794.35, after ticking above the psychologically significant 800 level during the session for the first time since Feb. 17. The technology-oriented Nasdaq Composite rose 29.11 (1.99%) to 1,491.22, helped by a reported bid from Dow component International Business Machines to buy Nasdaq component Sun Microsystems.

The market has tripled its value since early march. Still don't believe me?

Originally posted by rattan1
Here we go:

Citigroup, the leading gainer on the Dow, added 57 cents (23%) to $3.08, and has now more than tripled in value since its low in early March. Still, Citi is off nearly 90% from this time last year.

The market has tripled its value since early march. Still don't believe me?

The leading gainer of the Dow represents "the market!"

Classic!

rattan you aren't a troll..so why do you post silly logic like B. Bernanke's nonsense

Do you have any exposure to the MKTS (like 401k, other investments) this is the strongest way i can explain why i think you are trying to WILL the market's up .....this is normal .....but emotion is not your friend to find out where market is going.

You quote Bernanke like he doesn't have incentive to make people believe there will be a recovery to boost confidence in the market!

Remember when he said the subprime mortgage sector was not a big deal....and then he said it was contained!

he may not have all the answers ....but he is quite a intelligent man...otherwise he wouldn't be head of the FED.....and he knows damn well about managing public perception...he has even written about it in his papers...

HERE's THE DEAL

if you think this is the start of a muliti-year bull market i may disagree but i will respect your opinion........but back it up with a bit more respectable logic........not bernake's latest perception management

i see the market falling back down to 6800 or so in the next week or two....then when it DOESN"T immediately breach the lows of two weeks ago....the BEAR MKT RALLY will come roaring back and take stocks over 8000 probably near 8800 or so........we could breach the early march lows in the summer ....but getting rid of the uptick rule may stop short sellers from driving down stocks......so it maybe more difficult for this to happen....although EUROPEAN banks are in trouble and may need to SELL U.S corporate equity's to raise cash this summer! also there is the saying sell in may and go away.


[edit on 24-3-2009 by cpdaman]

I think Rattan1 is correct.
If you think Rattan1 is wrong then that is your choice. You can go around in circles all day long explaining this that and the other and never understand why the market moves.
The new bull market has begun. Voodoo moves the market.
By the time the chart shapes up and "looks" right to you, it will be much higher. In the meantime the headline news will have you worried about buying the top of a bear rally and looking foolish.
When you actually do buy in you'll be too scared to hold on for the big run.
The Media will whip you back and forth armchair quarterbacking for Wall Street like they always do.
Jim Cramer is even talking about buying now. Ha! He was ready to talk it all the way down and now he buys the bargains.

Originally posted by THX-1138
.
The new bull market has begun. Voodoo moves the market.

how can i argue with that logic

Originally posted by THX-1138
The new bull market has begun. Voodoo moves the market.
By the time the chart shapes up and "looks" right to you, it will be much higher. In the meantime the headline news will have you worried about buying the top of a bear rally and looking foolish.
When you actually do buy in you'll be too scared to hold on for the big run.

All I have to say it that the road is littered with people who claim to be able to "time the market". I prefer my clients not to lose money, I'll get them on the bandwagon after it is really moving and I will get the off of it before it starts to really go downhill. For my clients it is more important for them to keep what they have rather than take a chance for above market gains, which always imply a greater chance of loss of principal.

Good luck to you.

While I agree with the OP that now is the time to make money (in housing at least), I don't see the meltdown as being over. The stock market is a far cry from what is taking place in the real world. So what if the banks that got us into this mess are salvaged - the damage is still done.

The recession we've experienced so far was foisted on us by the banks, but now we have to face the real recession caused by:
* Retirement plans (401k's) are half their value from a year ago
* Rampant job losses and unemployment
* Inflation
* Credit has been slashed