Wednesday, 12/4, Market WrapUp (It is a good time to buy! Really?)

Financial Sense Online ^ | 12/4/2002 | James J. Puplava

[dalereed]

"By the way, don't go on a cruise for quite a while"

I'm going on the Freeper cruise, wouldn't miss it for the for any reason.

A lot of people are tired after a cruise since they aren't used to partying around the clock for days and have 10# to lose when they get home from eating all the good food.

[raygun]

Internally, I see no clue to a change of character in today's action. The market is marking time and waiting, I think, for an excuse to go up; action is obviously negative on balance. However, there was one interesting reading. In the stocks of companies with fast earnings growth, advances outnumbered declines today 52 to 25. Ordinarily these stocks also go down with the rest of the market, but not today. This could be interpreted as a move towards greater confidence than we have seen for the past several days.

[Orion]

ROTFLOL....I am still waiting for someone to put some serious money on that predtion. Short of a terrorist nuking the US, there is no way the DOW will go anywhere near that level.

You can't be serious, can you?

The best thing that could happen to the GWB Admin is for a terrorist to do just that. It would provide cover for the financial meltdown that is long overdue.

[Orion]

What is a SOX index?

Philadelphia Semiconductor Index. A broad measure of certain bellweather chip companies.

[TigerLikesRooster]

Re #41

Well, just don't go to any other cruise even if your wife threatens you with divorce.:)

As for getting tired, I remember that some friends of mine turned pale and haggard during the summer vacation while they were at grad school. I asked them why and they told me that they were so busy with non-stop all night parties and vacation trips that they got seriously ill and had to recuperate for days before the class started. I am sure they will be right at home with this cruise experience even if it shortens their life span by several years.:)

[dalereed]

"I am sure they will be right at home with this cruise experience even if it shortens their life span by several years.:)"

Since I can count on one hand the # of my relatives that have died before the age of 90 in the last century, shortening my lifespan is something that doesn't concern me.

[razorback-bert]

Why doesn't the chart show how gold has performed vs. the market the past 2500 years?

Gold has been traded for goods a lot longer than IBM.

[razorback-bert]

Carla is a creation of liberal media, they needed a successful woman CEO, so they build one.

According the media, Carla is smart enought to become the first woman member of the Masters' Country Club.

I fear HP is going to become a Sunbeam and I use to lust after some of their products.

[Always Right]

The best thing that could happen to the GWB Admin is for a terrorist to do just that. It would provide cover for the financial meltdown that is long overdue.

There is as much doom and gloom craziness here to make the environmental wackos look sane. The markets are currently fairly valued and most economic data looks decent. As I have been saying for over seven months now, the markets are going nowhere until around spring. At that point, we will probably be ready for a bull market where we will probably run up to about 11,000-12,000 range by the end of next year. There is no way we are going to 5,000 short of some terrorist disaster. Everyone here has been predicting this 5000 DOW BS for over a year now and it hasn't happened. Give it up.

[Always Right]

Why doesn't the chart show how gold has performed vs. the market the past 2500 years?

Very goood point. How many buffalo skins did a ounce of gold sell for in 500 BC, BTW? That is crucial data for my next trade.....

[arete]

As I have been saying for over seven months now, the markets are going nowhere until around spring. At that point, we will probably be ready for a bull market where we will probably run up to about 11,000-12,000 range by the end of next year.

The first quarter of '03 is going to be a very bad period for the markets. They will be much much lower than they are now. If you are long, use any year end rally to sell.

Richard W.

[rohry]

"I've been holding my breath for over a year on all these sub-5000 DOW predictions. I am turning awefully blue...."

Here is a chart of the 3 leading indexes over the last year. Doesn't look like a bullish chart to me:

Chart: Basic - Moving Average - Technical Analysis - IntraDay - Detailed

S&P 500 INDEX (REU:^GSPC)

- Trade: N/A

Range:

1d 5d 3m 6m 1y 2y 5y max

Type:

Bar | Line | Cdl

Scale:

Linear | Log

Size:

M | L

Compare:

^GSPC vs.     S&P    Nasdaq    Dow

On a side note, did you know that the Dow was still at 200 in 1931 and would continue to drop to 50 by the middle of 1932 (from a high of 380)? It took over 700 days to reach its bottom.