Because Treasuries have no int rate, commodoties are deflating and Recession "is ending in Q3 09"
Now you may ask, do I believe that, no, but the market needs new data that will ultimately re adjust it's valuation model. Recall Late october and early novemeber, after the first real bottom, we floated above it until real model changing data about the recession kicked in. That extended the recession out.
It will be Jan in 3 weeks. Recession could start to fade 5 months after that. Most likely 8, but the market is 6 months forward looking.
Along with this, rallying on bad bad news, every analyst talking about a rally after the 15 etc. We are at the threshold right now. There are more things I see that say it will go up then down. No one is sure which way it will go, but the big buying the last week makes me feel comfident they will win.
That's my thoughts. Also, we haven't fully tested the ceilings of prior months. I could see a pull back, like we saw today, and then have better judgement when we see how the market responds the next two day.
Interesting it is, but I haven't seen this much buying stretch for so many days for awhile. We usually get the 2 day rally then get hammered.
How fast people tunr bearish? How about how fats people turn into bulls. I think we are range bound, I expect the market to continue trading between abou 8250 and 9500 for weeks if not months. While the market may have begun to discount bad news, there is still little or no good news on the horizon.
And I respect your inclination to feel that the re-bottom is not within the next few weeks..
i'm just wondering how you are so optimistic when all news has been negative thus far, and the previous rally, or ongoing if you wish, has been long, unjustified, and present in the face of horrendous future outlook news.
Please, I appreciate the advice, however I don' use a 1 month or 3 months chart to base my investments.
It was mocking the other poster.
I think it's comicle how fast people turn bearish. yes, we all know the market could rebottom, but f no not within the next couple weeks.
So that 3rd red day out of 12 and we are already retesting 7's soon?
To be honest, this looks more like a weak attempt at a pull back on some nice rallying the last few days, no?
Markets dont' go in a straight line up or down. But this is nothing compared to the first pull back we had 2 mondays ago.
is there a free site I can go to so that I can view old charts for previous days? when I try and view on yahoo, the only show intraday chart for last 5 days, and than it only shows the close numbers. i'd like to see what the day after that last big pullback looked like.
I agree the market has somewhat stabilized than before. But the trend is heading down. We are still in the bear market.
If california declare bankruptcy next week, we will see S&P cut in half price. This is very real reality