DOW breaks 8,000

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The_Lillard_King

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This is a good sign . . . I don't know how long this will last, but hoping 6500 was a bottom.

Economic turn around in 2010? I could live with that . . .
 
Let's hope this is a real turn around and not just a short bump.

I still fear that the debt Obama is proposing to rack up, our future economy will make this recession feel like a boom period.
 
Awesome, now we have a stock market bubble.
 
I believe the housing crisis is still in the beginning. We have to wait for all the loans that are fucked to crash, then repair the economy. Unfortunately, Geithner is now backing some of the "toxic assets" with the FDIC, making investing in these loans fail-safe for the private investor (not so much for the government, which has an extra burden).

The job market is absolute shit right now, taxes are going up.

I personally think that we won't hit bottom of the economy for another year to 18 months. Recovery will take longer than that.
 
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There were fresh signs Thursday that the full force of the recession may be petering out: a strong profit forecast from Wells Fargo, a drop in unemployment benefit filings and several retailers predicting solid April sales. On Wall Street, the Dow Jones industrials rose nearly 250 points.
 
it's_GO_time said:
There were fresh signs Thursday that the full force of the recession may be petering out: a strong profit forecast from Wells Fargo, a drop in unemployment benefit filings and several retailers predicting solid April sales. On Wall Street, the Dow Jones industrials rose nearly 250 points.
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Gee, a profit after taking $25 billion and then going on a spending spree? Also, how did they get accurate unemployment figures? Seems more like a market propped up on taxpayer backs. Buyers, beware.

http://www.cbsnews.com/stories/2009/02/09/eveningnews/main4788018.shtml

Aslo, which retailers? Joes' here in Oregon just liquidated today, and others are just around the corner. Of course some retailers will show improved sales as their competition dies off and lets workers go.
 
PapaG said:
Gee, a profit after taking $25 billion and then going on a spending spree? Also, how did they get accurate unemployment figures? Seems more like a market propped up on taxpayer backs. Buyers, beware.

http://www.cbsnews.com/stories/2009/02/09/eveningnews/main4788018.shtml

Aslo, which retailers? Joes' here in Oregon just liquidated today, and others are just around the corner. Of course some retailers will show improved sales as their competition dies off and lets workers go.
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Hey, I'm just looking for some positive news in hopes the economy has at least bottomed out. Couldn't find any positive news six months ago. I'm starting to see some positive articles here and there and at least the markets have rebounded a little.

I'm not saying it's over . . . even if we have bottomed out, still going to take a long time to turn this around with many bumps in the road. . . maybe consistent postive numbers in 2010 :dunno:
 
it's_GO_time said:
Hey, I'm just looking for some positive news in hopes the economy has at least bottomed out. Couldn't find any positive news six months ago. I'm starting to see some positive articles here and there and at least the markets have rebounded a little.

I'm not saying it's over . . . even if we have bottomed out, still going to take a long time to turn this around with many bumps in the road. . . maybe consistent postive numbers in 2010 :dunno:
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I hope it gets better. I've been looking for 3 months with one interview in a job that was equal to what I was doing before being laid off. I made the final 3 out of 300 applicants.

The Dow being at 8000 on news of a bailed out bank means little to me, and I now have "skin in the game" in terms of the Stimulus. I have my shovel ready! I guess I'll dig if it pays enough.
 
It's a false bottom. There was a small bump and then there will be some profit taking. Unless something dramatic happens, we'll be bouncing along the bottom for a while. As for employment, it's a lagging indicator, so expect that to come back last.
 
maxiep said:
It's a false bottom. There was a small bump and then there will be some profit taking. Unless something dramatic happens, we'll be bouncing along the bottom for a while. As for employment, it's a lagging indicator, so expect that to come back last.
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So you think the market will dip below 6500 again?
 
maxiep said:
It's a false bottom. There was a small bump and then there will be some profit taking. Unless something dramatic happens, we'll be bouncing along the bottom for a while. As for employment, it's a lagging indicator, so expect that to come back last.
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I don't expect it to come back. I do expect me to take a job that pays considerably less than what I was paid in my previous position within the next 6 months, and with a lesser skill and education level than I possess that is needed to get that job. Time to lower my standards, but then, I guess that's the point, huh?

"Spread it around".
 
it's_GO_time said:
So you think the market will dip below 6500 again?
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I have no idea. The fundamentals say no, but you can't predict consumer/investor psychology. If I could predict the market, I'd never work again. If you're interested in how the market works, I still think Burton Malkiel's "A Random Walk Down Wall Street" is as good as it gets.
 
PapaG said:
I don't expect it to come back. I do expect me to take a job that pays considerably less than what I was paid in my previous position within the next 6 months, and with a lesser skill and education level than I possess that is needed to get that job. Time to lower my standards, but then, I guess that's the point, huh?

"Spread it around".
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I'd suggest to anyone with motivation to start your own business. My last two jobs have been ones where I had/have an ownership stake. The first I started a business and in my current job I joined a partnership. That way, you're betting on yourself rather than being at the mercy of an employer.
 
maxiep said:
I'd suggest to anyone with motivation to start your own business. My last two jobs have been ones where I had/have an ownership stake. The first I started a business and in my current job I joined a partnership. That way, you're betting on yourself rather than being at the mercy of an employer.
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Generally good advice, but it might not be possible for some people without starting over in a new field. And while that might in fact be necessary for some, I'll bet it's hard to ashcan years of experience/training/education and start over from scratch.

barfo
 
barfo said:
Generally good advice, but it might not be possible for some people without starting over in a new field. And while that might in fact be necessary for some, I'll bet it's hard to ashcan years of experience/training/education and start over from scratch.

barfo
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I agree. It takes a certain attitude to do well in small business. Some people were made to be employees. Some people weren't. The skillsets required are very different.

I'm getting more worried about the economy to be honest, even on my personal little island...just a bad feeling overall on it. :sigh:

on a positive, its giving me a much needed kick in the pants to get my shit together.
 
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maxiep said:
I have no idea. The fundamentals say no, but you can't predict consumer/investor psychology. If I could predict the market, I'd never work again. If you're interested in how the market works, I still think Burton Malkiel's "A Random Walk Down Wall Street" is as good as it gets.
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I was just trying to figure out your false bottom comment. What is a false bottom . . . I thought you were taking about the market . . .

Thanks for the suggestion on the book . . . somehow I get this feeling we have different taste in books.
 
it's_GO_time said:
I was just trying to figure out your false bottom comment. What is a false bottom . . . I thought you were taking about the market . . .

Thanks for the suggestion on the book . . . somehow I get this feeling we have different taste in books.
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A "false bottom" means that it looks like the bottom, it feels like the bottom, but it isn't. There will likely be another round of profit taking, another round of companies who tried to stay afloat but couldn't and, as a result, another decline in the stock market.

The market right now is about the long-term. If your window is any shorter than a decade, you shouldn't be in the market at all.
 
it's_GO_time said:
I was just trying to figure out your false bottom comment. What is a false bottom . . .
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jlo1olwp7.jpg


barfo
 
Don't they call that a "badonkadonk" in some circles?
 
maxiep said:
A "false bottom" means that it looks like the bottom, it feels like the bottom, but it isn't. There will likely be another round of profit taking, another round of companies who tried to stay afloat but couldn't and, as a result, another decline in the stock market.

The market right now is about the long-term. If your window is any shorter than a decade, you shouldn't be in the market at all.
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That is why I asked about the market and if you thought we hit the bottom. .. without looking it up, I think the market dipped below 6500. (I think we hit a market bottom at that number)


You said it was a false bottom so I assumed you think the market has not bottomed out and it will drop below the 6500 level again. But then you said you did know if the market would drop below that level . . . to which I start getting a headache because earlier you said you thought it was a false bottom . . .

Oh well whatever . . . we will see if it is a false bottom, but I think we have seen the market bottom out . . . a real bottom.
 
it's_GO_time said:
That is why I asked about the market and if you thought we hit the bottom. .. without looking it up, I think the market dipped below 6500. (I think we hit a market bottom at that number)


You said it was a false bottom so I assumed you think the market has not bottomed out and it will drop below the 6500 level again. But then you said you did know if the market would drop below that level . . . to which I start getting a headache because earlier you said you thought it was a false bottom . . .

Oh well whatever . . . we will see if it is a false bottom, but I think we have seen the market bottom out . . . a real bottom.
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I can't tell you if 6,500 is the absolute bottom for this market or not. From the data I've reviewed, the new technical bottom is around 7,300, but that could change. I'm trying to say that the market will likely not stay above 8,000; that's there's likely another dip or two coming along. I have no idea how deep they'll go.
 
maxiep said:
I can't tell you if 6,500 is the absolute bottom for this market or not. From the data I've reviewed, the new technical bottom is around 7,300, but that could change. I'm trying to say that the market will likely not stay above 8,000; that's there's likely another dip or two coming along. I have no idea how deep they'll go.
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Got it. No I'm not saying 8,000 is a bottom. I was saying 8,000 might be an indication that the market bottomed out at 6500.
 
Who cares about the economy? We're all dead in 2012 anyways. It's time to just let your hair down and go wild.
 
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