Dow closes above 13,000, first since 2008!

Off with the negativity and fear mongering! Forget any recession! Forget any possible Greek default! Cast off any concerns about the Eurozone crisis! Dismiss China ever having a hard landing! Screw the middle class! Heaven forbid any suggestion of economic collapse! Caution and risk are now things of the past!

The DJIA has closed above 13000 for the first time since May 2008 and there's nothing stopping it now!

Rub ya hands together boys (and girls), we're on the brink of an age of prosperity and wealth!

Marketwatch

U.S. stocks rose Tuesday, sending the Dow Jones Industrial Average to its first close above 13,000 since May 2008, as consumer confidence hit a 12-month high and oil prices fell.

The Dow Jones Industrial Average /quotes/zigman/627449 DJI +0.18% added 23.61 points, or 0.2%, to 13,005.12. It had topped 13,000 in the past two sessions, only to give up the level by the close. The last time the blue-chip index finished above the round-number mark was May 19, 2008, or before the start of the most recent bull market.

A close above 13,000 matters some in that it “focuses attention on the market and the fact the market is doing well, so it might be a psychological boost,” said Hugh Johnson, chairman of Hugh Johnson Advisors.

There's nothing to stop this surging rally now!

“What is really making things go is there is no real end in sight in the sense that there is nothing in the stock market, and in money and economic news, that says we’re at the end of the cycle,” Johnson said.

Party time!!

This thread will be legend if there is a bottom-out crash in the next few months.

Second line.

Pride goeth before a fall.

This is just the top of the roller coaster.

Yea a light bulb usually burns brightest right before it goes out. I wouldn't scream "it's over" from the roof tops just yet.

reply to post by surrealist


The only reason is because the stock market is being artificially proped up by the FED, but eventually that bubble will burst too, and chaos will ensue... hey, did anyone see the Oscars the other night?

I see it made it to the "lucky" number. I never thought it would make it much past 12k

Yo doubting Thomases! Yo fear mongerers! This is the rally of the decade and it shows no signs of abating!

Behold the world is soaring into the stratosphere of mega-profits and monetary bliss!

I miss Bush...

Second

DOW should be around 20 K if we take into account the IMMENSE volume of money created from thin air in the last 3 years. It is called INFLATION, the same way your groceries are more expensive , the shares on various companies are getting more expensive.

Originally posted by DrNotforhire
I miss Bush...

Second

Don't worry, you got Obama! He's doing a miraculous job with the US economy. We have the change we all hoped for!

Yeah we'll see what happens to the market in October just like 2008 when gas hit $5 a gallon.

reply to post by surrealist


After the hundreds of billions thrown into the system over the years I'm actually shocked this didn't happen several years ago. If this follows the projections that we all assumed would follow the 2008 bailouts, but was stopped by the deflationary spiral we struggled through in 2008-2010 and the stagnation of 2011 this would be the worst indicator yet of the inflation storm on the horizon. And I'm not talking 1-3% inflation increases... but huge, dramatic inflation. Because there is a TON of liquidity still in the economy that has not hit the "system" yet.

Think about it.. the US Fed printed an astronomically large amount of Dollars, from nothing, they've partaken in the largest monetization process in our history, pumping tens of billions into the Government ...... and we saw almost NO inflation?

It's coming.

It'll be ugly.

Considering all the Resignations in the past few months, taking into account the obvious shambles the economy is really in, considering all the war drum beating and taking in the fact that the last time it reached 13,000 within 5 months it crashed. I think it might be safe to say things might begin to get bumpy in the near future possibly at the latest 5 months? The illusion can only last so long in which they are greatly stretching it to begin with and all those resignations may indicate the ship is in fact about to sink and soon IMHO.

Might be time to start stockpiling some things if you haven't already yet before the illusion ends, the riots begin and the stores get cleaned out. Failing to prepare is preparing to fail

Compare the price of the dow to gold in 2008 vs dow to gold in 2012. Is it really above 13,000? Hmm makes you think:

Dow in October 5, 2007: $14,066/unit Dow Jones
Gold in October 5, 2007: $730/ounce
It takes 19 ounces of gold to buy one unit of Dow jones


Dow on Feb 28, 2012: $13,005/unit Dow Jones
Gold on Feb 28, 2012: $1,735/ounce
It takes 7.5 ounces to buy one unit of Dow jones.

Meaning that it takes less gold to buy the same stocks, meaning the value of the stocks is actually much much lower than what they are telling you.

Originally posted by surrealist

said Hugh Johnson,

Wait, someone with the last name "Johnson" actually named their kid "Hugh?" That's absolutely brilliant!

On topic: One has to wonder how long the charade of minimal inflation will continue to be relayed to the public with straight faces. Every sign points to ridiculous inflation happening right now. Food prices: Up greatly, Gas prices: record highs for February, Gold: Still astronomically high, Family Budgets: tighter than a nun at a rave. The perpetuation of this "recovery" lie has become very offensive.

reply to post by surrealist


It's All " Smoke And Mirrors " . The REAL State of our Present Dismal Economy has Nothing to do with the Markets .....

Nasdaq touches 3,000 for the 1st time since December 2000