Dow 2006

[kriesau]

In the week that the DOW finally hit both its intraday and closing ATH it is salutary to consider the fact that only 7 - or just under 25% - of the 30 stocks that make up the Dow have hit their all time high. At the same time the SPX is still currently some 13% below its ATH.

The Dow of course is much more easily manipulated from behind the scenes by powerful string pullers (who mentioned the PPT ?) since it is SP weighted rather than MC weighted. There is something rather unreal about current market levels given the whole host of economic issues (the wall of worry) that the US is currently facing.

The US mid term elections are early next month and the Republicans are in trouble - they don't need falling markets to add to their problems ! However I can't see this Goldilocks scenario lasting for another 4 weeks and therefore we could see a sharp drop very shortly followed by a PPT engineered rally leading up to the elections.

I still think that when it turns, we will see the NDX leading the market down.

Conspiracy theorist - moi !
(just some idle conjecture heading into the weekend)

 

[Pat494]

You still wake up sometimes, don't you? Wake up in the dark, with the
bears screaming?

Do you think if you shorted the Dow, you could make them stop...? Do
you think, if shorts live, you won't wake up in the dark, ever
again, to the screaming of the bears? Do you...?

Steady there RT - Sounds like you are cracking up.

 

[chump]

You've obviously not seen Anthony Hopkins do hannibal the cannibal ..have you Clarise

 

[Pat494]

You've obviously not seen Anthony Hopkins do hannibal the cannibal ..have you Clarise

Oh righty
You are a fund of knowledge.
Still working on the Clarice bit.
Cliff maybe - that pottery person ?
Richards
Ah my sigi
LOL

 

[kriesau]

You still wake up sometimes, don't you? Wake up in the dark, with the
bears screaming?

Do you think if you shorted the Dow, you could make them stop...? Do
you think, if shorts live, you won't wake up in the dark, ever
again, to the screaming of the bears? Do you...?

As we know,
There are known knowns.
There are things we know we know.
We also know
There are known unknowns.
That is to say
We know there are some things
We do not know.
But there are also unknown unknowns,
The ones we don't know
We don't know

err....right - probably the only smart thing that Donald Rumsfeld has ever said !

What say you RT ? :cheesy:

 

[LION63]

Richard Russell, editor of the Dow Theory
Letters since 1958, recently noted, "21 of the Dow
stocks (71%) are 20% off their all-time highs and 17 Dow
stocks (57%) are at least 30% below their all-time
highs."

 

[roguetrader]

As we know,
There are known knowns.
There are things we know we know.
We also know
There are known unknowns.
That is to say
We know there are some things
We do not know.
But there are also unknown unknowns,
The ones we don't know
We don't know

err....right - probably the only smart thing that Donald Rumsfeld has ever said !

What say you RT ? :cheesy:

Hehe Love it

 

[aspex]

Richard Russell, editor of the Dow Theory
Letters since 1958, recently noted, "21 of the Dow
stocks (71%) are 20% off their all-time highs and 17 Dow
stocks (57%) are at least 30% below their all-time
highs."

And all of that means?

BTW has anyone seen the City Index promo for their "Dynamic Dow Strategy"?
Any opinions apart from the horrendous take for them?

http://www.cityindexadvisory.com/PDF/CIALDynamicDowInvestorDetails 5 9.pdf

 

[laptop1]

And all of that means?

BTW has anyone seen the City Index promo for their "Dynamic Dow Strategy"?
Any opinions apart from the horrendous take for them?

http://www.cityindexadvisory.com/PDF/CIALDynamicDowInvestorDetails 5 9.pdf

Who the hell would trade a Strategy that Cityindex developed lol

 

[aspex]

laptop1,

I take it you approve.

 

[kriesau]

Caveat Emptor !

Michael A. Nystrom, in his essay at BullNotBull.com titled "Dow Manipulation" notes that the litany of bad news is overwhelming. He lists the following factors:

1. The yield curve has remained inverted for months;
2. We had the first negative reading in the Philly Fed index in three years;
3. US housing sales have plunged and prices are showing their first declines since 1993.
4. The index of leading economic indicators has declined for seven straight months.
5. Online advertising revenue is down;
6. Newspaper advertising revenue is down;
7. The help wanted index is down.

"Across the board the economic news is terrible - everything is pointing to a recession."

So why are the stock and bond markets rallying? Government manipulation!

"It makes me consider," he says, "that the only thing standing between this market and a crash are the November elections.Under normal circumstances," he says, "today's inflation report - the highest inflation reading in 11 years - would have absolutely creamed the market. There is, to put it mildly, something fishy about this market."

PPT again !!!!

 

[karmit]

I saw an article on finance.yahoo.com which said that the Dow components are still very cheap...

Three years ago I would have logged immediately into into my online broker and bought shedloads
as long term investment... not today!

Yes.. I'll definitely buy some good ones... but only after the DOW drops a 1000 points (ok make it 800)

 

[karmit]

This comment on yahoo finance really made me laugh

"Wall Street is split between those who feel stocks are at a top and those who feel the market has further to run."...

really?!

 

[roguetrader]

Alcoa (AA) kicks off earnings after the bell

 

[Hook Shot]

Alcoa looks interesting ?

 

[dcarrigan]

Alcoa looks interesting ?

disappointed the street with figs. imo. think it will knock miners shares tomorrow uk.

 

[rols]

This comment on yahoo finance really made me laugh

"Wall Street is split between those who feel stocks are at a top and those who feel the market has further to run."...

really?!

Never ever look at Yahoo Finance. It's written by numpties. Quite often in the same day there will be contradictary comments. "Stocks plunge as oil price surges."
Three hours later; "investors shrug off oil gains to take stocks to new highs".

 

[roguetrader]

Alcoa looks interesting ?

Looks like toys are out of the cot

 

[karmit]

Looks like toys are out of the cot

I initially thought that this might have a big impact on the DOW tomorrow..

However, looking at the charts, Alcoa hasn't been doing too good anyway - as compared to the DOW index itself.... so.. wait and see.

I do hope it has a big impact though

btw.. Leg Mason tanked as well it seems...

 

[rav700]

I initially thought that this might have a big impact on the DOW tomorrow..

However, looking at the charts, Alcoa hasn't been doing too good anyway - as compared to the DOW index itself.... so.. wait and see.

I do hope it has a big impact though

btw.. Leg Mason tanked as well it seems...

Aluminum producer Alcoa Inc. (AA.N: Quote, Profile, Research), the first Dow component to announce its results for the period, marked the start of the reporting season immediately after the closing bell when it said its third-quarter profit almost doubled. Analysts were expecting the company to report sharply higher results, but earnings and revenues came in short of estimates. [nWAA000015]

Alcoa's stock was little changed in extended-hours trading, after closing at $28.29, up 1.1 percent, or 30 cents, on the New York Stock Exchange.