Posted on 05/26/2010 6:56:07 AM PDT by blam
Stocks Gain At Open On Bargain Hunting
Angela Moon
On Wednesday May 26, 2010, 9:43 am
NEW YORK (Reuters) - Wall Street opened higher on Wednesday on bargain hunting after a recent sell-off and as U.S. Treasury Timothy Geithner flew to Europe to press for united action to tackle the region's deepening debt crisis.
The Dow Jones industrial average (DJI:^DJI - News) was up 78.90 points, or 0.79 percent, at 10,122.65. The Standard & Poor's 500 Index (^SPX - News) gained 10.79 points, or 1 percent, at 1,084.82. The Nasdaq Composite Index (Nasdaq:^IXIC - News) rose 28.73 points, or 1.30 percent, at 2,239.68.
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(Excerpt) Read more at finance.yahoo.com ...
Get back to me at 4:01pm
Bargain my ass. More like fishing for suckers in a barrel. Come on in! Look at all the money you can think you’re making while your wealth is being inflated away!
Isn’t that the truth.
The game has changed. It’s not long term holding anymore. The pattern is predictable.
“Get back to me at 4:01pm”
...good point...more and more the last hour of trading determines the day.
There are no “bargains”
The PPT (plunge protection team) is in full combat mode
I’ve got my eye on FCX but I want it to drop another 10 bucks before I buy.
“The DJIA is starting to look like the NBA. They only play hard in the last two minutes.”
...you nailed it GonzoGOP!
Not really. You can inflate and make it look like you made money, when in fact you lost money.
I’m just pointing out that the dollar has lost about (according to the government statistics) 30% of its value since the Dow crossed 10,000 in 1999. The Dow is now at 10,000.
Whew! You put in $500 and got $500 back. Of course, your $500 is now really only worth $350. Good thing we preserved our wealth and the market held flat, eh? Remember, gotta invest for the long term, because stocks never lose money long term!
I’m saying if I just hold my dollars, I am guaranteed to suffer the loss of purchasing power. If I invest shrewdly, I at least stand a chance of avoiding it.
True and these days, it’s murder trying to find something that will actually preserve principal. Everything is a mess. I got out of stocks in early 2008, because I saw nothing but trouble ahead. Now, things just don’t make any sense anywhere. It’s hard to figure out where to put money when nothing makes any sense.
Disclosure: long SPAM, dried beans, and ammunition.
lol. I agree that times are hard to figure.
Like I said.....
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