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Stocks continue wild trading in new year as Dow rebounds from near 400-point slide
CNBC ^ | January 2, 2019 | Fred Imbert & Sam Meredith

Posted on 01/02/2019 1:07:20 PM PST by abb

U.S. stocks posted slight gains on Wednesday after a volatile session kicked off 2019.

The Dow Jones Industrial Average closed 18 points higher after dropping nearly 400 points earlier in the day. The S&P 500 gained 0.1 percent while the Nasdaq Composite climbed 0.46 percent. At their lows of the day, the S&P 500 were both down more than 1 percent.

“Finally, we’re starting to see this buy-the-dip mentality creep into the market,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. “It’s because of valuations and it’s because the underlying data has been pretty good so far, albeit a bit softer.”

“I think the market has accepted that, it’s now capitulated and I think we grind higher here,” Blancato said.

Facebook and Amazon rose 4.3 percent and 2.6 percent, respectively, to help the Nasdaq pare its losses. Bank shares erased their earlier losses as Goldman Sachs, Bank of America and J.P. Morgan Chase all climbed more than 1 percent.

snip

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: djia; dowjones; markets; nasdaq; stockmarket
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The talking heads were in full scream early this morning, claiming the worst New Year's trading in history.
1 posted on 01/02/2019 1:07:20 PM PST by abb
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To: abb
Talking heads were screaming this morning
2 posted on 01/02/2019 1:11:34 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: abb

6 months from now people will look back and will wish they had bought in at these prices.


3 posted on 01/02/2019 1:16:27 PM PST by jdsteel (Americans are Dreamers too!!!)
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To: abb

Buy in the morning, sell in the afternoon....what could be easier?


4 posted on 01/02/2019 1:17:43 PM PST by proxy_user
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To: abb

Apple has halted after hour trading on pending news. I don’t know what the pending news is.


5 posted on 01/02/2019 1:40:06 PM PST by HOYA97 (twitter @hoya97)
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To: jdsteel

6 months from now people will look back and will wish they had bought in at these prices.
...
Hope so...I still can’t help rooting against FANGs, however...those who sat young Obama’s table toasting each other...


6 posted on 01/02/2019 1:51:36 PM PST by CincyRichieRich (Either the Wall gets built or America becomes a democrat socialist state.)
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To: HOYA97

They just “warned” on Q1 earnings.


7 posted on 01/02/2019 1:53:29 PM PST by abb ("News reporting is too important to be left to the journalists." Walter Abbott (1950 -))
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To: HOYA97

Apple cuts revenue forecast on weak China sales

https://finance.yahoo.com/news/apple-lowers-quarterly-revenue-forecast-213837063.html


8 posted on 01/02/2019 1:56:55 PM PST by DFG
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To: abb

It’s quite possible the market will take a royal dump soon when the S&p 100 mda drops below the 200


9 posted on 01/02/2019 1:58:25 PM PST by jjw
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To: jjw

That happened in Sept 2015 and while there was a snap-back rally the going was rough for the next six months until it hit a double bottom.


10 posted on 01/02/2019 3:03:05 PM PST by Gasshog
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To: abb

The DOW is now down 290 in after hours at 6:00 est.


11 posted on 01/02/2019 3:03:17 PM PST by freedom1st (Build the Wall)
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To: jdsteel

Stocks still very over-priced. I am expecting DOW 2100 during 2019.


12 posted on 01/02/2019 3:35:43 PM PST by entropy12 (One million LEGAL immigrants/year is too many, without vetting for skills, Wealth or English skills.)
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To: Gasshog

Sharp and blistering rallies are typical symptoms of bear markets. Bull markets live on lack of selling. Bear markets thrive on bottom pickers jumping in to buy, only to watch more lack of consistent buyers.


13 posted on 01/02/2019 3:38:53 PM PST by entropy12 (One million LEGAL immigrants/year is too many, without vetting for skills, Wealth or English skills.)
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To: Gasshog

Yep might happen like that again


14 posted on 01/02/2019 3:39:35 PM PST by jjw
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To: abb
Well, I think it's all about Trump.. Every time the media starts hammering Trump about another “Bombshell” coming or the dimocraps start with their “We got him now” stuff the markets always take a dive..
15 posted on 01/02/2019 3:41:28 PM PST by unread (Joe McCarthy was right.......)
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To: unread

When a stock market becomes a daily crapshoot, is it still a market?


16 posted on 01/02/2019 4:32:53 PM PST by Bookshelf
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To: HOYA97
Hal Eddins, chief economist at Apple shareholder Capital Investment Counsel, said Cook's comments on how the U.S. trade tensions with China were hurting the company's outlook "might be a dig at (U.S. President Donald) Trump, but mostly he may be using the trade turmoil as an excuse for some missteps they’ve made over the last year."

Cry me a river and I still won't give a crap what some pinhead says about President Trump...

17 posted on 01/02/2019 6:41:08 PM PST by tubebender
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To: entropy12

I doubt your predictive powers, though it’s possible we could temporarily hit 21,000. What I disagree with is the blanket statement that “stocks are very overpriced”. I have been buying up very good companies with low P/E. Plenty out there, too.


18 posted on 01/02/2019 8:02:05 PM PST by jdsteel (Americans are Dreamers too!!!)
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To: entropy12
Stocks still very over-priced. I am expecting DOW 2100 during 2019.

Perhaps...but if they keep it artificially high a while longer they can still manipulate some big quick earnings for the richest gamers....

19 posted on 01/03/2019 3:00:44 AM PST by trebb (Put your money where your mouth is - or be deemed "empty hot air worthless")
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To: jdsteel

Of course I am talking about the overall market represented more by SPX500, not individual companies.


20 posted on 01/03/2019 8:48:58 AM PST by entropy12 (One million LEGAL immigrants/year is too many, without vetting for skills, Wealth or English skills.)
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