Dow up 200; SKF, GLD getting trounced

[hipmatt]

What are you so excited about? Companies continue to lay off employees, oil is at $116, food prices set new records daily, banks continue to write off billions, no one knows how bad the recession is gonna be, and there is no bottom in sight for housing… hmm maybe I am missing the good news.

I’d say enjoy the rally while you can, and if you think that the worst is over, and that main street American Jane and Joe are gonna be OK, go ahead and stay long the market.

BTW, while gold is down today, commodities in general have been SMOKING just about everything else out there.
check out MOO, GSG, XLE, USO… all at or near 52 week highs. Many piggs have recommended these stocks, and if GLD is having a pullback, no need to bash piggie advice. BTW I never recommended shorting anything here. The euro did hit a new high yesterday vs. the dollar, and while the dollar is stronger today, who know where it may be in 6 months.

Nothing worth gloating about anyways…

[TheBreeze]

Is anyone shorting here? I would think today would be the day to do it. I agree that we are likely to see another leg down and I think it will come about because of the problems in Alt-A and Option ARMs.

However, I think that Bernanke has mostly saved the stock market at the expense of the dollar. Instead of making speculators bear the brunt of the housing bubble (and thus crashing the stock market), Bernanke has slashed interest rates, which has eroded the value of the dollar. Bernanke has in essence forced savers to take some of the pain.

I’m no longer expecting the market to go down big. It may test the low of 11,500 or so sometime again this year, but I don’t see it getting any lower than that.

[TheBreeze]

Is anyone shorting here? I would think today would be the day to do it. I agree that we are likely to see another leg down and I think it will come about because of the problems in Alt-A and Option ARMs.

However, I think that Bernanke has mostly saved the stock market at the expense of the dollar. Instead of making speculators bear the brunt of the housing bubble (and thus crashing the stock market), Bernanke has slashed interest rates, which has eroded the value of the dollar. Bernanke has in essence forced savers to take some of the pain.

I’m no longer expecting the market to go down big. It may test the low of 11,500 or so sometime again this year, but I don’t see it getting any lower than that.

[TheBreeze]

Is anyone shorting here? I would think today would be the day to do it. I agree that we are likely to see another leg down and I think it will come about because of the problems in Alt-A and Option ARMs.

However, I think that Bernanke has mostly saved the stock market at the expense of the dollar. Instead of making speculators bear the brunt of the housing bubble (and thus crashing the stock market), Bernanke has slashed interest rates, which has eroded the value of the dollar. Bernanke has in essence forced savers to take some of the pain.

I’m no longer expecting the market to go down big. It may test the low of 11,500 or so sometime again this year, but I don’t see it getting any lower than that.

[TheBreeze]

Is anyone shorting here? I would think today would be the day to do it. I agree that we are likely to see another leg down and I think it will come about because of the problems in Alt-A and Option ARMs.

However, I think that Bernanke has mostly saved the stock market at the expense of the dollar. Instead of making speculators bear the brunt of the housing bubble (and thus crashing the stock market), Bernanke has slashed interest rates, which has eroded the value of the dollar. Bernanke has in essence forced savers to take some of the pain.

I’m no longer expecting the market to go down big. It may test the low of 11,500 or so sometime again this year, but I don’t see it getting any lower than that.

[TheBreeze]

Is anyone shorting here? I would think today would be the day to do it. I agree that we are likely to see another leg down and I think it will come about because of the problems in Alt-A and Option ARMs.

However, I think that Bernanke has mostly saved the stock market at the expense of the dollar. Instead of making speculators bear the brunt of the housing bubble (and thus crashing the stock market), Bernanke has slashed interest rates, which has eroded the value of the dollar. Bernanke has in essence forced savers to take some of the pain.

I’m no longer expecting the market to go down big. It may test the low of 11,500 or so sometime again this year, but I don’t see it getting any lower than that.

[TheBreeze]

I’d say enjoy the rally while you can, and if you think that the worst is over, and that main street American Jane and Joe are gonna be OK, go ahead and stay long the market.

Will do.

Care to offer any specific advice today hipmatt or do you just want to speak in generalities about the past? Do you recommend buying MOO, GSG, XLE, and USO here?

[TheBreeze]

I’d say enjoy the rally while you can, and if you think that the worst is over, and that main street American Jane and Joe are gonna be OK, go ahead and stay long the market.

Will do.

Care to offer any specific advice today hipmatt or do you just want to speak in generalities about the past? Do you recommend buying MOO, GSG, XLE, and USO here?

[TheBreeze]

I’d say enjoy the rally while you can, and if you think that the worst is over, and that main street American Jane and Joe are gonna be OK, go ahead and stay long the market.

Will do.

Care to offer any specific advice today hipmatt or do you just want to speak in generalities about the past? Do you recommend buying MOO, GSG, XLE, and USO here?

[TheBreeze]

I’d say enjoy the rally while you can, and if you think that the worst is over, and that main street American Jane and Joe are gonna be OK, go ahead and stay long the market.

Will do.

Care to offer any specific advice today hipmatt or do you just want to speak in generalities about the past? Do you recommend buying MOO, GSG, XLE, and USO here?

[TheBreeze]

I’d say enjoy the rally while you can, and if you think that the worst is over, and that main street American Jane and Joe are gonna be OK, go ahead and stay long the market.

Will do.

Care to offer any specific advice today hipmatt or do you just want to speak in generalities about the past? Do you recommend buying MOO, GSG, XLE, and USO here?

[hipmatt]

ummm… you said that piggie investing was bad advice, I just said it actually has been quite good with the exception of recent activity in short funds that I never recommended. I have ridden gold from 600 to 950, then took profits. I took at least 15% profits on moo, over 35% on GLD, over %45 on GDX and various other decent returns on a few other commodity related stocks. Would I buy them at these levels, maybe not, maybe so. I’m currently sitting mostly on the sidelines, I know when to admit that the current market is too nutty to stay in, and I am not confident in too many investments right now. I will start putting more back into cash as I expect to buy a home in the next two years or so. Do I claim to give financial advice, no(well I will say that you shouldn’t buy a home yet).

BTW.. I didn’t get your specific advice going forward “the breeze”? Or do you just want to gloat AFTER the dow has had a few big days?

[hipmatt]

ummm… you said that piggie investing was bad advice, I just said it actually has been quite good with the exception of recent activity in short funds that I never recommended. I have ridden gold from 600 to 950, then took profits. I took at least 15% profits on moo, over 35% on GLD, over %45 on GDX and various other decent returns on a few other commodity related stocks. Would I buy them at these levels, maybe not, maybe so. I’m currently sitting mostly on the sidelines, I know when to admit that the current market is too nutty to stay in, and I am not confident in too many investments right now. I will start putting more back into cash as I expect to buy a home in the next two years or so. Do I claim to give financial advice, no(well I will say that you shouldn’t buy a home yet).

BTW.. I didn’t get your specific advice going forward “the breeze”? Or do you just want to gloat AFTER the dow has had a few big days?

[hipmatt]

ummm… you said that piggie investing was bad advice, I just said it actually has been quite good with the exception of recent activity in short funds that I never recommended. I have ridden gold from 600 to 950, then took profits. I took at least 15% profits on moo, over 35% on GLD, over %45 on GDX and various other decent returns on a few other commodity related stocks. Would I buy them at these levels, maybe not, maybe so. I’m currently sitting mostly on the sidelines, I know when to admit that the current market is too nutty to stay in, and I am not confident in too many investments right now. I will start putting more back into cash as I expect to buy a home in the next two years or so. Do I claim to give financial advice, no(well I will say that you shouldn’t buy a home yet).

BTW.. I didn’t get your specific advice going forward “the breeze”? Or do you just want to gloat AFTER the dow has had a few big days?

[hipmatt]

ummm… you said that piggie investing was bad advice, I just said it actually has been quite good with the exception of recent activity in short funds that I never recommended. I have ridden gold from 600 to 950, then took profits. I took at least 15% profits on moo, over 35% on GLD, over %45 on GDX and various other decent returns on a few other commodity related stocks. Would I buy them at these levels, maybe not, maybe so. I’m currently sitting mostly on the sidelines, I know when to admit that the current market is too nutty to stay in, and I am not confident in too many investments right now. I will start putting more back into cash as I expect to buy a home in the next two years or so. Do I claim to give financial advice, no(well I will say that you shouldn’t buy a home yet).

BTW.. I didn’t get your specific advice going forward “the breeze”? Or do you just want to gloat AFTER the dow has had a few big days?

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