Market Watch 7/23/02

none | me

[Miss Marple]

Thank you for reminding me about the bonds. I had forgotten about that, but I do remember the outrage among knowledgeable people here at the time.

I am beginning to think that they knew full well this would come crashing down, and that it didn't matter who was President. If Bush, they get to blame him. If Gore, he's dumped in 4 and HRC was to become the nominee as one who "understood" the market.

I actually had a Clinton dream last night, and it was not pleasant. Those people and the press have much to answer for.

[hchutch]

Of course.

If all they seek is power, what does it matter who gets hurt as long as they have it?

If they cannot have the power, then they would rather destroy the country. It's that simple, and they have to be stopped. I don't care at this point if we have to go with moderate Republicans in some places. This mafia MUST be stopped at ANY cost.

[mrs9x]

I love how yahoo on their front page only shows that the S&P and NASDAQ are down. They make no mention that the DOW is up.

[steveegg]

I think the tank was not necessarily to get Hitlery elected in 2004, but to bring about New Communism (of course, it woudln't be called Communism, at first). While she would have been the perfect agent, even Algore would have had a receptive citizenry for the nationalization of the economy.

[arete]

XAU down 7.5%.

The dollar is much stronger. Intervention or short covering?

Richard W.

[hchutch]

Instead, they have to make George Bush Jr. the new Herbert Hoover first. And they will try.

Even if we have to elect moderate Republicans or RINOs, we HAVE to stop the Dems this year and next year. This mafia must be defeated.

[ken5050]

Notice how quiet Sen Corzine is these days?

[steveegg]

I got news for you; NASDAQ/S&P are much more representative than the Industrials today. The only index tracked by the New York Stock Exchange (see their Market Information page - it updates too frequently for me to list them all) that is in positive territory is the Dow Jones Industrial Average. This includes all 3 major markets' composite averages (which factor in all the stocks on the respective exchanges).

[steveegg]

The Hooverizing of Bush was Plan B (they would much rather had Algore present to push nationalizing the companies that were collapsed). Of course, Plan C is to continue the stalemate and let the SocSecurity time bomb blow everything to smithereens and hope that the lack of education (specifically, history and finance) would allow them to do this in 12 years.

[steveegg]

Yeah; they only drag him out when McShame, Snowe-Job, Specter-of-a-Man, et al remember that they're not card-carrying memebers of the DemonRAT Party.

[hchutch]

The thing is, can Bush prevent that from happening?

I think it's possible, but I'm getting worried that to do so, he will have to ditch the new tone.

[steveegg]

You got that right; you can't out-socialize the RATs. Unfortunately, the Pubbies seem to think they can.

DJIA +20 (back from a brief trip to where the rest of the market is)
NASDAQ -19
S&P 500 - 9
The rest of the market down better than 1%.

[wardaddy]

Looks like I'm having some half baked crow for lunch today. The market turns and twists and mid-day are not terribly indicative. As usual the tale isn't told till later. I expected a mini-rally today but it seems the only strengths have been in some of the large caps like WMT. The Citigroup problem has certainly affected the financials more than I expected even though the networks are refusing to link Rubin much...it would appear that the traders are quite aware.

This afternoon will either be very bloody or muddle up a hair. There is no doubt the market is very weak.

[steveegg]

We're going dutch on that half-baked crow. I expected another crash, but outside of the "miracle" Industrials, it's only a modest slide. Of coruse, the afternoon will tell the tale.

I agree with you on Citigroup. Gotta con the sheeple (at least those that are still in the market) into believing that the crash isn't the Klintoon Gang's fault.

[truthkeeper]

bttt

[Stefan Stackhouse]

RE: Real Estate:

What I am seeing as a realtor in WNC:

Buyer activity has picked up substantially in the past 4-6 weeks -- things were pretty dead all spring, in fact back all the way to 9/11. We're just starting to make up lost ground as far as our sales volume for the year goes.

Due to the long lull, prices have been pretty moderate lately. Most properties have been selling at or below list.

I am seeing some activity by pre-retirees who have cashed out of equities and are now seeing real estate as a good investment. Not huge numbers of such people, but a few.

Financing is very much available and affordable for first-time home buyers. In fact, they are making up an unusually big chunk of my business these days. If someone has a good, steady job, it is quite possible to buy a house with virtually no money down. Finding anything decent that is affordable is a challenge, but not impossible.

The real estate market here just doesn't really seem to be so hyper-active and hyper-inflated yet as to justify calling it a "bubble".

[Whey]

I think the afternoon will show the drop. The day traders will dump before the close.

[jpl]

As I write this, the NASDAQ is down over two percent, which brings it to an almost perfect 75 percent decline over the last two and a half years. This kind of performance makes the Nikkei look good.

[hchutch]

I think that something may be up. Remember, Bush can operate with a lot of stealth. He has to have the most leak-proof Administration in recent history, and as such, we don't know what is going on behind the scenes.

Nor do the Dems. gov_bean_ counter had an interesting tidbit a while back and the SEC going on a hiring binge about 6 to 8 months back. My eyebrows raised a little at that. Something's going to happen, and I think someone will go down BIG TIME for this.

[steveegg]

Here we go with the Mid-Section Midday update:

DJIA +6 (+0.09%)
NASDAQ -25 (-2.03%)
S&P 500 -12 (-1.51%)
Russell 2K -11 (-3.26%)
NYSE Composite -6 (-1.60%)
AMEX Composite -9 (-1.22%)