Posted on 03/15/2011 12:13:45 AM PDT by neverbluffer
Why did it get so high? Bernake Bucks??
The Dow is overvalued, anyway. There is no recovery. A few events might cause this charade to unravel. A cascading effect if you will. The economy is nothing more than a house of cards and the stock market nothing more than a game of 3 card monty.
Interesting thing to me is that the Dow is now bucking the Euro. For the past year, it had floated with the Euro, for reasons I still don’t understand, but it seemed to be reliable. Today, the Euro was up $.009, about a penny, which is a moderate move, but the Dow was down about $100 most of the day before recovering to -50. Gee, how did that happen.
It is interesting how history sometimes rhymes.
If you’ve never seen the story of how Jesse Livermore made a killing by going short when the San Francisco quake happened, find it. It is an interesting story in light of recent events.
Why? There can’t be anything serious going on in the world. I just saw our leader golfing, yukking it up with his jourbalist buddies, eating $100/lb Wagyu steak w/lobster and partying like it’s 1999!! Surely he wouldn’t act that way in a crisis!
It's not about reality...it's about perception.
Glenn Beck was on the money again today.
NHK just had a live conference. Radiation levels as measured at the plant gate have now dropped dramatically to a level not harmful to humans.
Could the events in Japan be the catalyst for a world wide economic collapse as foretold by Stansberry & Associates Investment Research? I am sure many of my fellow Freepers have watched the video at the link below:
www.endofamerica46.com
I wonder what the world wide economic impact Japan’s earthquake will have in the months ahead?
Get ready to loot.
I’m starting to get the feeling that the market fluctuates.
It’s going to be a very bumpy day on Wall Street. As of this posting, Japan’s Nikkei 225 closed down 10.55% (after losing 6% on Monday,) The Chinese SSE closed down almost 2%, and UK FTSE 100 is currently down 2.6%, and the German DAX is down 4.7%.
Look for the Dow to plunge on the open, the recover most of the losses during the day.
It doesn’t have to be the nuclear problem, its the entire State of Japan. Its a mess. Manufacturing is screwed for a few weeks at least. I mean, this is Japan. It is going to effect the world economic markets.
I don’t think I’ve ever seen a video so widely advertized.
I watched it and kept thinking, “When will he get to the point?”
IIRC, was it to buy gold?
I just watched that video. Scary stuff, but sounds like there is some good news if you follow those strategies. Kinda hard to believe that we’ve come to this.
After interminable recounting of everything that is wrong and frightening, he begins the pitch for his newsletter.
I surfed away at that point.
I spent some time last year reading his email alerts. I think he’s an hysteric.
It isn’t right vs wrong, IMO, it is the tone.
Here we are in the midst of several crisis around the world in different areas: war, natural disaster, nuclear plant failures, debt levels, economic failures and yet when I take a look at the futures I see commodities selling off, US Treasuries gaining, the USD at least avoiding the lower support levels (doesn’t say much, though) and the yen going higher while precious metal skitter around a bit lower to flat.
Porter Stansfield makes money by selling his advice. He has been in the markets forever and within a period of weeks he will advise to quickly buy, then quickly sell. So, his firm makes profits off action, not just sound advice. His own positions benefit if millions take his advice.
Last year, when I was trying to make some sense of the economic future, he was very bullish on precious metals and commodities, both as investments and personal stockpiles. IIRC, he was pumping land and real estate investments in Patagonia, as well. I suppose he has already made profits on the rises of those and perhaps he is now advising buying the yen (supposition only) or even the USD.
A friend was forwarding Porter’s emails at the time I was reading them. About the time I noticed the rapid shifts between asset classes and positions, I just gave up on him. No average investor can be that facile in the modern electronic trading environment. I suppose if you are playing with millions or more, one can manage to profit here and there, but my conclusion was that they are making their profit and reputations on the churn.
A lot of financial experts foresaw GM and Lehman problems. A lot didn’t. Not all engendered hysteria to make their case. That’s all I am saying.
Markets gyrate. Events happen. Not to try and downplay the seriousness of all of this, but, realistically, one could become engulfed in total panic while trying to frantically adjust to rapidly changing scenarios while accomplishing little. You can hedge in one place while going bust in another and all the while not even sense the next Black Swan that is falling on your head. Not to even mention the cost of commissions on each trade.
I am no expert. I got out in 2008 and missed the big run up. Today, I am missing a moderate (so far) decline. So much of the reaction is counter-intuitive to me or else is beyond my means, that I find myself in a passive mode. We have done what we can to prepare and we are now in at least a few crises beyond control of most of us.
I am wondering if anyone is really in control, anyway. Defensive reaction can only succeed so far. Experience says that everything will decline and likely further than the situations warrant. Then, they will turn around. We all hope to be left standing, but, of course, only some will. No one knows the future and the future is not just an exponential extrapolation of the present, in any direction.
Timing really is everything, but often, it is a case of being in the right place at the right time without even having thought it through.
Just think of what all the banner ads on every major site to drive traffic to the video cost? Are they doing it out of concern for the mass of retail investors? I doubt it. To me, it was nearly a half hour of doom and gloom of which I was already aware, followed by a pitch for the newsletter, which is not free.
JMO.
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