Posted on 06/01/2009 10:52:26 AM PDT by BenLurkin
Stocks soared Monday morning, continuing the powerful rally off the March lows. The advance is likely to continue and take the S&P as high as 1100 by year-end, says Jon Najarian, co-founder of OptionMonster.com. Such a move would translate to a Dow above 10,000 - and probably well above after Monday's removal of GM and Citigroup and insertion of Cisco and Travelers into the price-weighted index.
In addition to technical factors such as the changes to the Dow and the S&P having eclipsed its 200-day moving average on Friday, stocks were rallying as continued upward momentum has investors previously on the sidelines scrambling to get long.
More fundamentally, the market is responding to a series of better-than-expected economic reports, including U.S. construction spending, the ISM manufacturing index, and purchasing managers surveys in China and Europe.
But rather than fundamentals, Najarian believes the market is rallying "on hope" and says rising oil prices represents the greatest near-term threat to any nascent recovery. Friday's jobs report is also a potential obstacle to further gains, he says.
(Excerpt) Read more at finance.yahoo.com ...
stocks surge on PR goosing from George Soros...
watch the 10 year note, rates going to the moon, weak dollar, oh, I wonder why
Let's say there was a family and both parents got addicted to crack - all their money is going up their noses - and bills aren't being paid.
They both lose their jobs. Then their Great Uncle Samuel loans them a million dollars. Are they doing better? You can bet on it. Will they be doing OK when the million is gone and they have to start paying the loan back? Probably not.
Are we doing OK now? Bet on it. Will we be OK when Uncle Sam's money is spent and has to be paid back? Probably not.
A dem's in the White House - the press is bring back "positivity".
As soon as we have to start servicing Obama’s trillions in debt the US as we know it will collapse completely.
We are already turning commie but the debt payments will seal our fate.
Should happen soon keep an eye on things.
A fools rally... enjoy it.
990 on the S&P 500 is an exit point to consider as well.
BUT Old Ben is not any kind of financial expert....so everyone must do their own research.
In hyperinflation stocks do surge.
Dream on.
The recession began in December, 2007? I thought it began in November of 2008, right after the historic election.
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