Currently the market does have bit of a look of "topping"
How that plays into the end of the quarter window dressing is unkown.
GOOG's PPS would seem to benefit from that more than we realize.
March 226 June 287.75 Plus 61 points on the quarter 30% Sept 316.46 Plus 29 points on the quarter 10 % Dec 414.46 Plus 98 points on the quarter 31 % Mar 390 Down 24.5 points on the quarter 5 % June 419.30 Up 29.30 points on the quarter 7 % Sept ????
I am thinking with the markets performance this Q that the Window dressing on GOOG will be there. littl buying effort will take it much higher. Whether they take it down on the start of Q 4 dont' know.
GOOG has the look of a stock in a 'ragged' 6 month consolidation. Volume was heavier than expected today however it was right at the open, then 12:30 and then after the fed.
386-392 on the low side, and 428 to 454 on the high side. So that is down 10 points and up 30 to 55.
<<Currently the market does have bit of a look of "topping">>
Finally, a sane person on a message board.
The market has been in a ferocious rally for FOUR YEARS without a break (no, I don't count a four week mini sell off in May, now 100 % undone, as a correction). That four year rally was based on 17 incorrect calls for "one and done". Yep, the market went up while rates were going up, and now the market is going up while rates go down. March, 2000 all over again. Remember? "The market always goes up." Well, markets go down, too. After this amazing four year non-stop rally, how much longer can it go on?
Smart people are asking themselves: hmmmmmmm. The Fed is calling it quits because THE ECONOMY IS SLOWING AND THE REAL ESTATE MARKET WHERE 60 % OF ALL NEW JOBS ORIGINATE IS CRASHING THROUGH THE FLOOR. These smart people are saying, alrighty now tell me again how a recession and collapsed real estate market is going to improve earnings?
Cash is king.
The very first thing to be cut out of soon to be tightened corporate budgets will be Online Ads.
Some elliot wavers are calling this the end of the "B" leg of the bear market, right before the next final nightmarish leg down.
Some believe vested interests are running the market up while running down oil to effect the coming elections.
Whatever is causing this sucker rally, dont trust it because every speculative frenzy blows up, and the housing bubble bust is starting and will cast a pall on the economy for the rest of the decade.
There wont be anything to take up the slack. "Big Business" has simply left the country and feels no need to hire. Indeed, this economic upturn has been marked by a lack of robust job creation. The only net job creation was in the housing sector and healthcare. There is no reason to assume that business hiring is going to take up the slack when housing rolls over and government healthcare spending hits a brick wall.
Further, the American economy is dependent on Chinese investment. If China rolls over, it will be 1929 and thats no exageration. No country in history has grown in a straight line. Sooner or later China must contract. If it does, we face the end of easy money and protracted asset devaluation.