Dow at all-time high

[Anonymous]

Well Hank Paulson is Jewish, he is the Sec Treasurey who gifted the TARP bailout for the large banks.

But that is besides the point. In hindsight I was wrong, there is no real relation, I must be imagining this.

How dare I try to relate ethic groups with any specific activity. Next thing you know somebody is going to say that Mafia families are typically run by Italians. Anyone who would insinuate that is just a hurtful bigot.

[spdrun]

Raised a Christian scientist, actually 🙂

Mafia is typically Italian, but are you saying that organized crime families of other ethnicities don’t exist? la EME. Mara Salvatrucha. Russian Vory v zakone.

[Anonymous]

Christian science is religion. Doesn’t change his ethnicity.

[SK in CV]

JFC. The Protocols survive. As does malicious ignorance.

[desmond]

The last 6 months or so I was wondering when I should sell and get out of the market. A couple of days ago I thought why would there be a correction at all? Big companies are doing well, Wall Street and the Banks are doing well, wealthier people with money for stocks are doing well. The middle class is struggling but they don’t have much or any money in the market, there is no giant housing and lending bubble to explode. Europe, seems nobody cares. I can’t see anything in the near future for a correction other than a correction just for a correction.

[spdrun]

Demand dropping due to lower gov’t spending. And sometimes corrections happen just because they do.

[SK in CV]

[quote=desmond] I can’t see anything in the near future for a correction other than a correction just for a correction.[/quote]

I agree with this. The recovery is still pretty fragile, so it could turn around. We have never had as many consecutive years of decreased public employment as we’ve had recently without entering a recession. Failure to reach a solution to the sequestration boondoggle could do it. Those risks notwithstanding, corporate profits are at an all time high and justify current market levels.

But corrections for corrections sake do happen. I hang with technical traders and it was almost unanimous among them that the market was going to correct 2 or 3% more than it did starting two weeks ago. Volatility was very low for a long time until then and it’s back down again. And the chart watchers are confused. Anything could happen. But if there’s no bad fundamental news, it’s time to buy the dips, sell the rallies.

[spdrun]

Well, here’s hoping for Israel to invade Iran or something. Should send oil prices through the roof and slam on the brakes. SCREEEEEEEEEEECH!

[SK in CV]

[quote=spdrun]Well, here’s hoping for Israel to invade Iran or something. Should send oil prices through the roof and slam on the brakes. SCREEEEEEEEEEECH![/quote]

Hoping for 10’s of thousands of people to die?

Serious fail.

[spdrun]

F’em all, so long as I profit. ’tis the American way, right? No?

Bet Halliburton and Blackwater CEOs didn’t care how many babies got roasted in Iraq either.

Anyway, $200/bbl oil would be good for the US and world in the long run, since it would encourage a move to renewables, nuclear, and other clean sources. Here’s hoping for some sort of manufactured crisis that makes that happen, both for my bottom line AND the long-term good of the world.

[paramount]

Volume on the market is low, which is bearish.

[UCGal]

I came to the conclusion several years back that I cannot predict an irrational market. So I set my asset allocation and periodically rebalance.

I was looking at it last night – I’m about 5% too high on domestic equities… time to rebalance.

If it corrects, I’ll have enough fixed income to buffer the downturn.

And I don’t see interest rates going up dramatically in the near term…

[paramount]

The velocity of money has been plunging as well.

[moneymaker]

I do think interest rates could rise in the near term. However my play today was swapping HPQ for some AAPL, anybody think that was good/bad call?

[paramount]

Do we see Dow 16k? 19k?

[Author]

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