Posted on 11/09/2009 1:34:10 PM PST by blam
Stocks Rocket To Biggest Gains Of 2009
Vince Veneziani
Nov. 9, 2009, 4:03 PM
Today was one for the record books.
The Dow Jones Industrial Average hit its 2009 year high today, going as high 10,228 in late afternoon trading and finishing at 10,227. The NASDAQ didn't do too bad either, ending up 41 points at 2154. The S&P 500 was able to gain 23 points to close at 1093.
The Federal Reserve today also released a survey that shows banks are still limiting the amount of credit offered to both businesses and consumers. The market couldn't have cared less.
Gold also had a huge day. November gold futures ended at $1,100.80 an ounce and December contracts came in at $1,101.40 as gold continues to break records. Oil ended up $2.00 at $79.43 a barrel. The dollar, as expected, continues to fall to new lows.
[snip]
(The DJIA closed up 203 points today.)
(Excerpt) Read more at businessinsider.com ...
But where's the job bubble?
The job bubble has to wait for the jihadist Death bubble to fade.
I’m sure that when the Dow hits 15000, it will be a great comfort to those of us who will be standing in the soup lines....
Duh, the market is ‘rising’ because the money the stocks are priced in is becoming worthless, as evidenced by the spike in the price of gold.
Seems like time to sell? I mean, you have gains that are supported by nothing.
Who’s going to sell?
There's no money to be made off it.
The jobs sinkhole.
We must use it to sink Democrats in 2010.
Exactly. This stock bubble is being fueled by the use of our increasingly worthless dollar as funding for carry trade.
It is going to be HIDEOUS when it pops.
This is just the band playing on the deck of the Titanic.
You have got that exactly right!
Follow this link to Jesse’s Cafe and see.
http://jessescrossroadscafe.blogspot.com/2009/11/perspective-sp-500-rally-from-first.html
The SPX compared to the Euro and Gold.
The stock market is a joke.
Our only investments in the Stock Market are in the 401Ks and the 500.00 children’s education funds.
What do I do? It isn’t much but I don’t want to lose it all.
” The stock market is a joke. “
And yet, I’m not laughing....
I recetnyl moved my entire 401k into a stable value bond fund, and will be cashing it out entirely when my layoff termination becomes final next week.
“recetnyl” = recently
Epic typo.
Totally agree with you there.
I laugh, but it is not a fun filled ‘haha’ laugh. More like ‘I feel sick’ laugh.
And for good reason..If the banks ever release that cash there will be inflation a la Zimbabwe in short order.
I am thoroughly convinced there is massive market manipulation happening and equally convinced that Soros is behind it. And hell I’m not even a conspiracy person but if you have time research what that bastard has done to smaller individual countries economies.
This is smoke & mirrors to lull people into reversing what they know..........a.k.a. reality
Thank you!
One question. Who is investing.
rather its the PPT (probably under the guise of Nat’l Security)...Soros (currency and futures manipulation) or Goldman Sachs (looking for article on GS being responsible for a huge % of all the volume on NYSE)
Here's a link to futures manipulation http://www.youtube.com/watch?v=hxBqAw75Bpo
Thank you...I’m not sure anyone really realizes this. I would stake my life on it and on the fact that soros is involved. Still loading Utube vid (I have dial up). Thank you for providing it.
Nobody. Everybody is speculating. But that doesn't mean that the speculation can't continue up to Dow 14k and a triple top. Although I don't think they'll let it go that high, each time it seems to want to pull back they juice it some more.
That is likely at the margins. The broader move is from the carry trade: cheap money borrowed here, put into "risk free" CD's abroad, loaned to silly developers to build even more luxury high rises in Hong Kong (sold to buyers using Chinese stimulus money), and as those investments rise in value our market rises due to the returns generated. The falling dollar adds to those returns.
When it pops the dollar will rise, commodities and gold will fall, and the market will falter. So then the PPT or whoever will try to goose the market a little, but to keep the trend going requires the big carry trade money. The Fed goes along with the charade with their stated belief that the wealth effect from the rising market is an important part of the economy and the recovery and that they will simply plateau the market once the economy has recovered enough.
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