Dow

sabretoothtigger

Obama’s Treasury pick can hit ground running.


Markets rightly applauded the choice of Tim Geithner to succeed Hank Paulson.

The New York Fed chief has been central to some of the more sensible crisis management, so the transition should be smooth. With the markets melting and the economy deteriorating, that’s a big plus.

http://www.breakingviews.com/2008/11/21/Geithner%20for%20Treasury.aspx?email


But its still down on yesterdays open, more of a quiet brandy then an all nighter me thinks

Thomas99

I closed my positions in FTSE, get worried over the weekend, don't know what's around the corner [Citigroup]:rolleyes:

StevieJ

Kez100 wrote: »

The Dow does it on purpose. Waits for it's little sister, the FTSE, to go to bed and then goes out with his mates and parties!

Looks like Little sis and her mates found out what Big brother was up to on Friday night, and raided the off licence. :beer:

StevieJ

It is happening again, Ftse tanks due to US employment figures, DOW well up

Kez100

DOW's out for his christmas party tonight. Sister's been in bed on antibiotics all week.

Kez100

Do you think there's a more logical explanation? Like Subway adding prozac to their lunch rolls?

purch

Ftse tanks due to US employment figures, DOW well up

I think it is starting to become Impossible for the actual news to be as bad as what is already discounted by the market !!!!:eek:

phil_b_2

I think stocks will rally next week. The big bad@ss devastating chunk of news has been dispensed with, at least for a little while until the next comes. Wait until reports of an xmas sales washout for the next market hammering.

that's what I hope anyway ... I put some money into a stock earlier in the week, and it got beat up pretty bad over the last couple of days.

StevieJ

phil_b wrote: »

I think stocks will rally next week. The big bad@ss devastating chunk of news has been dispensed with, at least for a little while until the next comes. Wait until reports of an xmas sales washout for the next market hammering.

that's what I hope anyway ... I put some money into a stock earlier in the week, and it got beat up pretty bad over the last couple of days.

You will get at least a portion back on Monday morning, Ftse is the Dow shadow! Most of the bad news is built in but it does not stop the market from panicking when the actual data is put up.

sabretoothtigger

I think it is starting to become Impossible for the actual news to be as bad as what is already discounted by the market !!!!:eek:

Anything less then 'nuclear launch detected' will interpreted by the markets as good news and better then previously feared. :laugh:


Nah what I find sometimes is the market will lag behind slightly as the news sinks in.

The sp500 is on the edge of a support level so its not so much a case of rising but more a bounce from previous falls.
The bad news will mean it will continue to hover around this level but it is not ready to fall off a cliff and drop another 12% or whatever.

If we get something like Ford, GM and Chrysler all going bust on the same day and unemployment doubles then that is an event with enough gravity to knock the market off its ledge and it would lose that support level and plunge.

Its already achieved a new lower low just before citibank came back and so you can definitly assume the trend is still down and no bottom has been confirmed yet

If you think of a spring tide and then what happens if you get a storm on the same day, its enough to break the sea walls. I think it'll work like that