http://quote.yahoo.com/m2?u
Full Version: IDS World Markets Fri 20th October 06
Stool Pigeons Wire Message Board > Stock Market Message Board > Intraday Stool- Stock Market Short Term Trading
Another try for the all-time high and we're very close now, a mere 31 points away. All Ords currently +0.6% with only a couple of laggards, Healthcare -0.2% and IT, flat. Materials is up the most, +1%.
In the miners, BHP and RIO are both up +1.6% and the golds are also doing well, led by Newmont +3%.
Oilwise, Woodside is still on a downer, -0.8% and Santos doing the opposite, +1.5%.
Over in Asia, markets are mostly up but looking cautious.
Question is when will they create another panic sell off even if it’s for a few days???
Much creaking and groaning but All Ords managed to push up +0.9%. Is this as far as we go? hmmmmm
Materials held the lead, +1.4% and there was only one lonely red sector, Utilities -0.1%.Miners took off like rats up a drainpipe: BHP +2.1%, RIO +3% and in the golds, Newmont remained in the lead, +2.5% with lesser gains on the others.
In the oils, Woodside remained firmly down, -1.4%. Santos closed +1.6%.
Mostly up in Asia with Sth Korea out in front, +0.7%.
UK/Europe steaming north:
http://quote.yahoo.com/m2?u
Aussie, Are you a Veterinarian?
As the table below the lower chart details, since the Dow first closed above 1,000 on 11/14/72, the duration between 11,000 and 12,000 was the second longest stretch behind only the time it took to go from 1,000 to 2,000. This is even more noteworthy when placed in the context of percentage terms as it took the DJIA over seven years to rise 9%- hardly a sign of irrational exuberance. Compare this to the 1990s, when over the same time period the Dow crossed eight different thousand point thresholds.
ticker_sense
ticker_sense
CAT misses by 25 cents, lowers estimates. Trading down 9% premarket.
Cliff dive in the futures.
Cliff dive in the futures.
MRK misses by 7 cents.
LMRA, wireless nanotechnology play.
Could have bought all you wanted last week at $1.50.
$7.35 in premarket, up 14% over yesterday's close.
Wireless nanotechnology!
The mind boggles at what that might be and what it might mean for our grandchildren.
Wireless nanotechnology!
I can't imagine it getting any better than a wireless nanotechnology play.
Could have bought all you wanted last week at $1.50.
$7.35 in premarket, up 14% over yesterday's close.
Wireless nanotechnology!
The mind boggles at what that might be and what it might mean for our grandchildren.
Wireless nanotechnology!
I can't imagine it getting any better than a wireless nanotechnology play.
Arch Coal misses, lowers estimates.
CAT reports that N. American market is experiencing a significant residential slowdown. Analysts are in disbelief; say that they were caught by surprise by the speed of these developments. I guess they assumed again that CAT will be bailed out by rapid world-wide growth: I guess not. First commodes were down, and now construction. Are we still in the boom times?
I want to try to clear up the confusion about the Fed and the Treasury which arises from time to time.
The US Treasury is a borrower. The Fed is a lender/printer of money which it creates out of the ether.
The Fed creates money when it buys the debt paper of the US Treasury, and sometimes other debt, or when it finances the buying and or holding of that paper via what are called repos or repurchase agreements. These are simply short term loans against the collateral of US Treasury debt, or occasionally "Agency" debt, meaning Fannie or Freddie, or more rarely, other mortgage backed paper.
The Fed is the bank for the banks and brokers. It creates the money by issuing a credit to the seller's or borrower's account at the Fed. Right out of thin air. Voila! It's magic! The account holder says, I need some MONAY! And the Fed says, OK, poof! There's your MONAY. Of course, they could use a printing press in the basement, but think of all the paper! No, they do it even more easily than that. With electronic book entries with whole bunches of zeros on the end.
But the really important thing here is who the Fed does IT with. They do IT only with 22 select TRADING FIRMS known as Primary Dealers, comprised of the largest investment banks and traders in the world. So the money the Fed creates gets to the banking system through these trading desks, who funnel it right into the financial markets by buying securities or derivatives directly in the market, using leverage on that cash far greater than the leverage allowed to mere mortals. A few billion from the Fed today means many additional billions in the trading accounts of Goldman's Sac, Bear, Banco Americo, RBS Greenwich, Countrywide Mortgage, Mohel Lynch et al. That's why the Fed's influence on the markets is so direct.
The US Treasury is a borrower. The Fed is a lender/printer of money which it creates out of the ether.
The Fed creates money when it buys the debt paper of the US Treasury, and sometimes other debt, or when it finances the buying and or holding of that paper via what are called repos or repurchase agreements. These are simply short term loans against the collateral of US Treasury debt, or occasionally "Agency" debt, meaning Fannie or Freddie, or more rarely, other mortgage backed paper.
The Fed is the bank for the banks and brokers. It creates the money by issuing a credit to the seller's or borrower's account at the Fed. Right out of thin air. Voila! It's magic! The account holder says, I need some MONAY! And the Fed says, OK, poof! There's your MONAY. Of course, they could use a printing press in the basement, but think of all the paper! No, they do it even more easily than that. With electronic book entries with whole bunches of zeros on the end.
But the really important thing here is who the Fed does IT with. They do IT only with 22 select TRADING FIRMS known as Primary Dealers, comprised of the largest investment banks and traders in the world. So the money the Fed creates gets to the banking system through these trading desks, who funnel it right into the financial markets by buying securities or derivatives directly in the market, using leverage on that cash far greater than the leverage allowed to mere mortals. A few billion from the Fed today means many additional billions in the trading accounts of Goldman's Sac, Bear, Banco Americo, RBS Greenwich, Countrywide Mortgage, Mohel Lynch et al. That's why the Fed's influence on the markets is so direct.
Good Morning!
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Welcome to Intraday Stool! Thanks to aussiebear for her daily opening!
You can join the discussion by registering (PG rated user names only, please) and posting here as well. Registration is easy. Just click the Register link above, enter your email address (which you have the option to keep confidential), and enter a user name. To keep out spammers and scammers, I'll send you an email with a few Monty Python type questions. Just reply with your answers, and I'll approve your registration as soon as I receive your reply.
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Many tanks for joining us!
Doc
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DJ Fed Accepts $5.25 Bln In 4-Day RPs
Type of transaction: 4-Day RPs
Total accepted: $5.25 Bln
Total submitted: $54.275 Bln
Agency Collateral Operation
Total accepted: None
Total submitted: $12.525 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.25%
Low-rate submitted: 5.2%
Treasury Collateral Operation
Total accepted: $5.25 Bln
Total submitted: $33.8 Bln
Stop-Out Rate: 5.25%
Weighted Average: 5.25%
High-rate submitted: 5.26%
Low-rate submitted: 5.18%
Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $7.95 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.26%
Low-rate submitted: 5.24%
QUOTE(DrStool @ Oct 20 2006, 08:02 AM)
I want to try to clear up the confusion about the Fed and the Treasury which arises from time to time.
The US Treasury is a borrower. The Fed is a lender/printer of money which it creates out of the ether.
The Fed creates money when it buys the debt paper of the US Treasury, and sometimes other debt, or when it finances the buying and or holding of that paper via what are called repos or repurchase agreements. These are simply short term loans against the collateral of US Treasury debt, or occasionally "Agency" debt, meaning Fannie or Freddie, or more rarely, other mortgage backed paper.
The Fed is the bank for the banks and brokers. It creates the money by issuing a credit to the seller's or borrower's account at the Fed. Right out of thin air. Voila! It's magic! The account holder says, I need some MONAY! And the Fed says, OK, poof! There's your MONAY. Of course, they could use a printing press in the basement, but think of all the paper! No, they do it even more easily than that. With electronic book entries with whole bunches of zeros on the end.
But the really important thing here is who the Fed does IT with. They do IT only with 22 select TRADING FIRMS known as Primary Dealers, comprised of the largest investment banks and traders in the world. So the money the Fed creates gets to the banking system through these trading desks, who funnel it right into the financial markets by buying securities or derivatives directly in the market, using leverage on that cash far greater than the leverage allowed to mere mortals. A few billion from the Fed today means many additional billions in the trading accounts of Goldman's Sac, Bear, Banco Americo, RBS Greenwich, Countrywide Mortgage, Mohel Lynch et al. That's why the Fed's influence on the markets is so direct.
The US Treasury is a borrower. The Fed is a lender/printer of money which it creates out of the ether.
The Fed creates money when it buys the debt paper of the US Treasury, and sometimes other debt, or when it finances the buying and or holding of that paper via what are called repos or repurchase agreements. These are simply short term loans against the collateral of US Treasury debt, or occasionally "Agency" debt, meaning Fannie or Freddie, or more rarely, other mortgage backed paper.
The Fed is the bank for the banks and brokers. It creates the money by issuing a credit to the seller's or borrower's account at the Fed. Right out of thin air. Voila! It's magic! The account holder says, I need some MONAY! And the Fed says, OK, poof! There's your MONAY. Of course, they could use a printing press in the basement, but think of all the paper! No, they do it even more easily than that. With electronic book entries with whole bunches of zeros on the end.
But the really important thing here is who the Fed does IT with. They do IT only with 22 select TRADING FIRMS known as Primary Dealers, comprised of the largest investment banks and traders in the world. So the money the Fed creates gets to the banking system through these trading desks, who funnel it right into the financial markets by buying securities or derivatives directly in the market, using leverage on that cash far greater than the leverage allowed to mere mortals. A few billion from the Fed today means many additional billions in the trading accounts of Goldman's Sac, Bear, Banco Americo, RBS Greenwich, Countrywide Mortgage, Mohel Lynch et al. That's why the Fed's influence on the markets is so direct.
Well said, Doc. Something I can understand.
QUOTE
Of course, they could use a printing press in the basement, but think of all the paper! No, they do it even more easily than that. With electronic book entries with whole bunches of zeros on the end.
But then, they have it easy compared to the Eyetalian CB, where misplacing a zero when 'creating' lira in the trillions, can be quite embarrassing.
Nice red candle on the IYR this morning. K Wave or DMM, Has the top of the channel been hit?
QUOTE(linrom @ Oct 20 2006, 07:53 AM)
CAT reports that N. American market is experiencing a significant residential slowdown. Analysts are in disbelief; say that they were caught by surprise by the speed of these developments. I guess they assumed again that CAT will be bailed out by rapid world-wide growth: I guess not. First commodes were down, and now construction. Are we still in the boom times?
They have obviously not been reading M2M or IDS.
Fed did a $3.5 billion net drain, leaving the 5 day net at a drain of $5.5 billion. FCBs sold Treasuries last week, but WSE FCB indicator stayed on the buy side. What's it mean? Updated charts and analysis coming up shortly in the WSE Pro Fed Report. Subscribe today. Click the link below for info.
It's a scam week fryday
What do those crook do on Scam week Fry day???
going to fry some _ _ _ _ _
What do those crook do on Scam week Fry day???
going to fry some _ _ _ _ _
Nadsaq new lows have been a pretty good top finder when they hit rock bottom, like now.
QUOTE(DrStool @ Oct 20 2006, 01:02 PM)
I want to try to clear up the confusion about the Fed and the Treasury which arises from time to time.
The US Treasury is a borrower. The Fed is a lender/printer of money which it creates out of the ether.
The Fed creates money when it buys the debt paper of the US Treasury, and sometimes other debt, or when it finances the buying and or holding of that paper via what are called repos or repurchase agreements. These are simply short term loans against the collateral of US Treasury debt, or occasionally "Agency" debt, meaning Fannie or Freddie, or more rarely, other mortgage backed paper.
The Fed is the bank for the banks and brokers. It creates the money by issuing a credit to the seller's or borrower's account at the Fed. Right out of thin air. Voila! It's magic! The account holder says, I need some MONAY! And the Fed says, OK, poof! There's your MONAY. Of course, they could use a printing press in the basement, but think of all the paper! No, they do it even more easily than that. With electronic book entries with whole bunches of zeros on the end.
But the really important thing here is who the Fed does IT with. They do IT only with 22 select TRADING FIRMS known as Primary Dealers, comprised of the largest investment banks and traders in the world. So the money the Fed creates gets to the banking system through these trading desks, who funnel it right into the financial markets by buying securities or derivatives directly in the market, using leverage on that cash far greater than the leverage allowed to mere mortals. A few billion from the Fed today means many additional billions in the trading accounts of Goldman's Sac, Bear, Banco Americo, RBS Greenwich, Countrywide Mortgage, Mohel Lynch et al. That's why the Fed's influence on the markets is so direct.
The US Treasury is a borrower. The Fed is a lender/printer of money which it creates out of the ether.
The Fed creates money when it buys the debt paper of the US Treasury, and sometimes other debt, or when it finances the buying and or holding of that paper via what are called repos or repurchase agreements. These are simply short term loans against the collateral of US Treasury debt, or occasionally "Agency" debt, meaning Fannie or Freddie, or more rarely, other mortgage backed paper.
The Fed is the bank for the banks and brokers. It creates the money by issuing a credit to the seller's or borrower's account at the Fed. Right out of thin air. Voila! It's magic! The account holder says, I need some MONAY! And the Fed says, OK, poof! There's your MONAY. Of course, they could use a printing press in the basement, but think of all the paper! No, they do it even more easily than that. With electronic book entries with whole bunches of zeros on the end.
But the really important thing here is who the Fed does IT with. They do IT only with 22 select TRADING FIRMS known as Primary Dealers, comprised of the largest investment banks and traders in the world. So the money the Fed creates gets to the banking system through these trading desks, who funnel it right into the financial markets by buying securities or derivatives directly in the market, using leverage on that cash far greater than the leverage allowed to mere mortals. A few billion from the Fed today means many additional billions in the trading accounts of Goldman's Sac, Bear, Banco Americo, RBS Greenwich, Countrywide Mortgage, Mohel Lynch et al. That's why the Fed's influence on the markets is so direct.
Exactly,
Fed isn’t the only one doing operation its happening all around the world including kamikaze banks of Japan with virtually free money just like fed was doing in 20002/2003
If bank of china or Kamikaze decide to buy American bond then there is more money floating around for the foolish stock market.
First hand user decide where the new money goes and in turn creates the trend in the market
HA! HA! HA!
POS Dow Show Dawgs are all bark and no bite
B.S. scam balance sheets
two sets of books
CAT is just the beginning, Ms. Girlebull -- YOUR favorite stock is next!
Russian Roulette
I gotta Big Woodshed Booooooooyah comin' atcha baby
that's gonna sting in the mornin'
here lemme help ya put a little Vasoline on that
POS Dow Show Dawgs are all bark and no bite
B.S. scam balance sheets
two sets of books
CAT is just the beginning, Ms. Girlebull -- YOUR favorite stock is next!
Russian Roulette
I gotta Big Woodshed Booooooooyah comin' atcha baby
that's gonna sting in the mornin'
here lemme help ya put a little Vasoline on that
Sold OIH @133 and SU at 77.45.
It hit 77.85 which is pretty damn close to 78 (61.5% fib number).
It hit 77.85 which is pretty damn close to 78 (61.5% fib number).
I wish the bank of Japan lends me the virtually free money then all I have to do is lend it out to west then sell the currency insurance to major exporter and charge then in turn would make money on both trades, would pass on the currency risk to other and get paid for doing it.
Oh, I forgot those crooks are already doing it while Fed interest rate policy look like a joke.
Oh, I forgot those crooks are already doing it while Fed interest rate policy look like a joke.
watch out now girlebulls ©bearman
GOOG could close red today
GOOG could close red today
QUOTE(Speakeasy @ Oct 20 2006, 10:03 AM)
Nadsaq new lows have been a pretty good top finder when they hit rock bottom, like now.
One of the few to hit a new low is YHOO, no coat-tails at all from Google.
Doom and Gloom or another buying Opps????
Only time will tell
Only time will tell
Interesting jugs ta position when you run the intraday QID and QLD charts side by side. Gives an intuitive feel of which pattern is stronger.
Coupon pass 11/06-9/07
*DJ Fed Seeks Dealer Bids For Coupon Pass By 11:00 AM EDT
QUOTE(dogsie @ Oct 20 2006, 02:29 PM)
QUOTE(Speakeasy @ Oct 20 2006, 10:03 AM)
Nadsaq new lows have been a pretty good top finder when they hit rock bottom, like now.
One of the few to hit a new low is YHOO, no coat-tails at all from Google.
Here is a bigger picture.
If the market is trading in between the trend line then yes or if its got more upside then it has long way to go.
Place your bets
CAT weakness no surprise. It's been one of the weaker Dow stocks since it broke down from its boner earlier this year. Even made a new yearly low in late Sept.
I caught most of the first leg down from 80 to 64. My ultimate target was 56-59 but the crooks kept jacking it back up. I suppose in order to distrib.
But now at 60.50, don't see a whole lot of downside left. Should find some sort of support in the congestion zone b/w 56-60 from 4Q05. May not see much of a bounce either. WHo knows.
I caught most of the first leg down from 80 to 64. My ultimate target was 56-59 but the crooks kept jacking it back up. I suppose in order to distrib.
But now at 60.50, don't see a whole lot of downside left. Should find some sort of support in the congestion zone b/w 56-60 from 4Q05. May not see much of a bounce either. WHo knows.
QUOTE(I_Am_Madness @ Oct 20 2006, 09:21 AM)
Sold OIH @133 and SU at 77.45.
It hit 77.85 which is pretty damn close to 78 (61.5% fib number).
It hit 77.85 which is pretty damn close to 78 (61.5% fib number).
Congrats, looks like you picked some kind of top.
But some of those now expecting rate hikes from the Fed say it's politics, more than economics, keeping the central bank on hold now with the hotly contested midterm elections less than two weeks away.
"Typically they try to avoid doing it right before the election," said Adam Posen, senior fellow at the Institute for International Economics.
Story Here <----------
"Typically they try to avoid doing it right before the election," said Adam Posen, senior fellow at the Institute for International Economics.
Story Here <----------
As posted yesterday, most bullish week of year coming up shortly. Markets have had boner rallies in late Oct/early Nov for 16 straight years. Usual dates are within 10/25-11/6. Will this year be any different?
If we get another rally, imagine the market will have to sell down sharply next week to set one up. Maybe a visit to the 200hourMA on the SPX at about 1340? Haven't tagged that line since 9/11/06.
SPX RALLIES (End of Oct/Early Nov)
2005: 10/27-11/3 (+3.9%)
2004: 10/25-11/5 (+7.4%)
2003: 10/24-11/7 (+4.3%)
2002: 10/29-11/6 (+6.6%)
2001: 10/30-11/8 (+7.7%)
2000: 10/26-11/6 (+7.5%)
1999: 10/27-11/5 (+8.3%)
1998: 10/28-11/6 (+7.7%)
1997: 10/28-11/5 (+10.9%)
1996: 10/29-11/11 (+5%)
1995: 10/26-11/6 (+3.1%)
1994: 10/25-10/31 (+3.7%) first week of Nov straight down, mid-terms
1993: 10/25-11/1 (+1.5%) first week of Nov straight down
1992: 10/22-11/3 (+2.4%) first week of Nov straight down
1991: 10/25-11/1 (+3.4%)
1990: 10/30-11/6 (+5%)
If we get another rally, imagine the market will have to sell down sharply next week to set one up. Maybe a visit to the 200hourMA on the SPX at about 1340? Haven't tagged that line since 9/11/06.
SPX RALLIES (End of Oct/Early Nov)
2005: 10/27-11/3 (+3.9%)
2004: 10/25-11/5 (+7.4%)
2003: 10/24-11/7 (+4.3%)
2002: 10/29-11/6 (+6.6%)
2001: 10/30-11/8 (+7.7%)
2000: 10/26-11/6 (+7.5%)
1999: 10/27-11/5 (+8.3%)
1998: 10/28-11/6 (+7.7%)
1997: 10/28-11/5 (+10.9%)
1996: 10/29-11/11 (+5%)
1995: 10/26-11/6 (+3.1%)
1994: 10/25-10/31 (+3.7%) first week of Nov straight down, mid-terms
1993: 10/25-11/1 (+1.5%) first week of Nov straight down
1992: 10/22-11/3 (+2.4%) first week of Nov straight down
1991: 10/25-11/1 (+3.4%)
1990: 10/30-11/6 (+5%)
QUOTE(shorty @ Oct 20 2006, 09:25 AM)
watch out now girlebulls ©bearman ©bearman
GOOG could close red today
GOOG could close red today
I don't know; but, I think that it was bad omen when you changed your avatar. I like this one much better.
QUOTE(seamus @ Oct 20 2006, 10:39 AM)
Coupon pass 11/06-9/07
Not surprising. The Treasury will be dumping at least $21.5 billion on to the market at next week's auctions. There are some mismatches with the rollovers.
A couple of weeks ago the Fed retired (demonetized) $3.5 billion of its holdings related to mismatched rollovers between a 5 year note expiring and the issuance of 10 year TIPS.
More and more Dow Dog stocks are breaking out to new, 52-week highs.
Huge volume on KO as it powers up through 2-year highs.
MRK on fire, nothing short of an all out panic to buy defensive issues....
Huge volume on KO as it powers up through 2-year highs.
MRK on fire, nothing short of an all out panic to buy defensive issues....
Yet another 2 cent drop in gasoline today in my neighborhood.
Crude oil testing the lows again.
In the meantime, retail stocks are bonering like no tomorrow....
Crude oil testing the lows again.
In the meantime, retail stocks are bonering like no tomorrow....
Funny how a lot of wannabe technical traders get caught up in wive's tales without bothering to actually do the research.
Read a few folks this week worried about the "death cross" on the XAU---i.e, the 50day crossed under the 200dayMA.
Somehow these people think that this is a bearish omen. In fact, historically speaking, it's meaningless.
Sentimentrader.com ran the numbers today. There have been 21 "death crosses" on the XAU over the past 20 years. If you shorted the index each time, you'd have 6 winning trades out of 21 for an avg loss of -1.9% on each trade one month later. If you held for 3 months, you'd have lost an avg of -3.2% each time.
So much for the "death cross." In fact, given those numbers above, it's a pretty bullish phenomenon.
Read a few folks this week worried about the "death cross" on the XAU---i.e, the 50day crossed under the 200dayMA.
Somehow these people think that this is a bearish omen. In fact, historically speaking, it's meaningless.
Sentimentrader.com ran the numbers today. There have been 21 "death crosses" on the XAU over the past 20 years. If you shorted the index each time, you'd have 6 winning trades out of 21 for an avg loss of -1.9% on each trade one month later. If you held for 3 months, you'd have lost an avg of -3.2% each time.
So much for the "death cross." In fact, given those numbers above, it's a pretty bullish phenomenon.
I too am happy to see Shorty's marching bear back in business.
Like running into an old friend again.
Like running into an old friend again.
QUOTE(wndysrf @ Oct 20 2006, 08:02 AM)
More and more Dow Dog stocks are breaking out to new, 52-week highs.
Huge volume on KO as it powers up through 2-year highs.
MRK on fire, nothing short of an all out panic to buy defensive issues....
Huge volume on KO as it powers up through 2-year highs.
MRK on fire, nothing short of an all out panic to buy defensive issues....
PFE getting sold off though. Maybe the PFE money is going into MRK. Once they are thru chasing MRK, they'll put it back in PFE. Just moving the shekels around the table.
Russell is consolidating before it breaks out to new highs........
Full Scale Panic Buying on JNJ
Wow...........
Wow...........
Dow is in rarified territory according to Jason Roney at Minyanville....
Dow has made 10 consecutive weekly higher highs and higher lows.
This has only happened four times before since 1930 (!).
In three of the prior four occurrences, the streak was broken the following week. In the fourth occurrence (1951), the streak continued just one more week.
If past is prologue, look for an undercut of Dow 11887 (and likely SPX 1356) at some point next week or early the following week.
BTW, the four prior examples are: March 1998, June 1954, Sept 1951, March 1943.
In March 1998, the Dow topped four months later about 3.5% higher. Then it fell 22%.
In June 1954, the Dow kept on truckin' for another 21 months and topped in April 1956 some 54% higher.
In Sept 1951, the Dow topped a few weeks later less than 1% higher. It wasn't able to clear the Sept 1951 level until Jan 1954, some 2.5 years later.
In March 1943, the Dow topped four months later about 6% higher. Then it went into a mild 8-month bear market that shaved 12% off the index.
Dow has made 10 consecutive weekly higher highs and higher lows.
This has only happened four times before since 1930 (!).
In three of the prior four occurrences, the streak was broken the following week. In the fourth occurrence (1951), the streak continued just one more week.
If past is prologue, look for an undercut of Dow 11887 (and likely SPX 1356) at some point next week or early the following week.
BTW, the four prior examples are: March 1998, June 1954, Sept 1951, March 1943.
In March 1998, the Dow topped four months later about 3.5% higher. Then it fell 22%.
In June 1954, the Dow kept on truckin' for another 21 months and topped in April 1956 some 54% higher.
In Sept 1951, the Dow topped a few weeks later less than 1% higher. It wasn't able to clear the Sept 1951 level until Jan 1954, some 2.5 years later.
In March 1943, the Dow topped four months later about 6% higher. Then it went into a mild 8-month bear market that shaved 12% off the index.
Sounds like we have dueling statistics.
Dow Utilities now at new, all-time, record high
Just by a hair....
Just by a hair....
It appears to me that the metal traders are suffering from Stockholm syndrome. Every time there is a tick up in the dollar, even a small one, even after a gapdown trendbreak on bucky, they all fall to their knees with sell orders waving in their hands, chanting please choose me!
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