Posted on 08/19/2024 2:50:24 PM PDT by ProtectOurFreedom
US stocks closed at session highs on Monday after posting their best week in a year as the markets continued to rally in a sharp turnaround from their early August sell-off.
The S&P 500 rose nearly 1%. The Dow Jones Industrial Average also gained 0.6%, while the tech-heavy Nasdaq Composite increased roughly more than 1.4%.
Technology and Consumer Discretionary stocks led the gains, as the S&P 500 stretched its daily wins to eight, its longest streak since November of last year, according to Bespoke Investment data. The Nasdaq also logged its an eighth consecutive session win as shares of chip heavyweight Nvidia and Tesla rallied.
Stocks rose following last week's strong gains as a measure of calm returns to a market previously whipsawed by worries about a potential recession. Last week's rally recouped the losses stacked up in an early August sell-off as Wall Street fretted about cracks in the economy — concerns that have since been eased by encouraging inflation and consumer spending data.
(Excerpt) Read more at finance.yahoo.com ...
Are the markets discounting the chance of Kamunism winning in November?
Keep your eye on 8/26
Time to go to cash.
8/26 ?
"Bank on it"
August 26th as a potential top of this bear trap.
Thanks. We’ll see.
The market is apolitical but every once in a while will chase out weak and squeamish.
My thought was, with all the focus on Cameltoe's role in the Border and its catastrophic effect on crime in the US--plus her recently demonstrated inability to defend herself in a debate--I figure the market is long on Trump.
Market dives have a pattern... there is an initial dive, big rally, then another dive, rally, then the real crash occurs. I invest long term so this is of no concern to me. If I need access to money in the short term, I would be looking at going mostly cash.
Thanks. I had not read that: “Fed to deliver three 25 quarter-point rate cuts this year; recession unlikely: Reuters poll”
Corporate America cares most about keeping the border open and wages low.
Exactly
8/28, Nvidia’s earnings date.
Vol got crushed in a few days after the "events" in Japan. Vol is super cheap right now, it would be prudent to long vol into October and/or some puts on spy/qqq etc. Vol will rise toward the election, it always does.
Not much in support once we dip below 5300, and a bottle rocket in gaza can get us there fast, or a blue tie worn JPowell at Jackson Hole.
I had four great stocks but panicked and bailed earlier this month, losing 10%.
I’m looking to get back in but feel it’s too late. I’m sitting it out for a bit, thinking it might dip again on September 18, when Trump is sentenced.
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