Posted on 03/26/2009 1:20:21 PM PDT by SonOfDarkSkies
Building on what could be one of Wall Street's strongest monthly performances ever, the Dow soared 175 points and the Nasdaq Composite turned positive year-to-date Thursday thanks to big gains from tech stocks and retailers.
Today's Markets
The Dow Jones Industrial Average rose 174.75 points, or 2.25%, to 7924.56, the S&P 500 gained 18.98 points, or 2.33%, to 832.86 and the Nasdaq Composite picked up 58.05 points, or 3.80%, to 1587.00. The consumer-friendly FOX 50 added 13.09 points, or 2.15%, to 622.88.
“The feeling on the floor is pretty optimistic. People are sensing that perhaps this thing is turning a little bit,” NYSE trader Bernie McSherry of Cuttone & Co. told FOX Business.
The markets were buoyed by a number of positive stories on Thursday, including better-than-expected results from BestBuy (BBY: 37.66, 4.27, 12.79%), upbeat analyst comments on tech stocks like Google (GOOG: 353.29, 9.22, 2.68%), and solid demand for a 7-year Treasury auction. At the same time, Wall Street breathed a sigh of relief after a pair of economic reports offered no negative surprises for traders.
(Excerpt) Read more at foxbusiness.com ...
By then interest will go up, Banks will strengthen again and start offering high return C.D.’s again like they did during the Carter depression. That is when I will sell off all stocks and securities and jump into money markets and C.D.s. I remember during the Carter years, getting 21% for a 90 day C.D., which was the result of the Fed raising interest rates like they should be doing now but aren't.
Eventually though they will have no other choice.
Since when is +175 “soaring”?
I’m waiting until it hits 10,000. Then I’m out.
Can you think of an example?
You ARE an optimist.
If it gets there, my bet is you won't pull the trigger.
Well, Socialism Works! Why didn’t we think of this earlier?
Right...
This time, it will be more like 2001%.
They are multiplying the money supply by a factor of 15.
Obama has built 7.5% inflation right into his budget projections.
And we know how accurate his numbers are.
...”reality is going to prevent Obama’s socialist ideas from becoming reality.”
Maybe so, but Socialists always move forward.
“Since when is +175 “soaring”?”
####
Since the day the Marxist was sworn in.
Under President Bush, +175 = “greed bubble”.
You would lose that bet My guess is that it won’t get much past 10,000 before it slides again, deeper the next time.
I agree. He is having trouble getting his budget passed. Suddenly no one wants to vote for it. This is why he had a ‘town hall’ meeting today. Also, The Specter recently said he would not vote for card check. I think he is out of momentum and the Democrat/Socalist agenda is on ice.
But you and I know equally as much about the future.
I’m going to wait for 9550, everyone will jump @ 10k.
I hope The Resident emulates the ‘Lady from Niger’.
Have you ever seen the equation MV = PQ, where M is the money supply, V is the velocity of money, P is the price level, and Q is the output of goods and services? You can solve for P: P = MV/Q. Right now, because of the credit crisis, V is abnormally low, so P has remained under control. But what will happen when the credit system is fixed, and V returns to normal levels? Helicopter Ben will need to morph into Vacuum Cleaner Ben real fast!
So, it's likely we are in for a bout of inflation in the not too distant future. The question is, where to invest to keep up with inflation?
I want Obama to fail and the economy to succeed.
Me too!
the last thing a socialist wants is for everyone to own stocks. Obama wants people out of stocks and completely dependent on govt. to heck with that
If you were not a Fortune 500 company they could short you out of business if they wanted to.Can you think of an example?
Overstock.com claims to have been hammered by naked short selling, i.e., short selling without borrowing the shares first.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.