Squat250 calling a TOP…

[scaredyclassic]

senior citizen relative just threw a pile of money in the stock market due to disgust with CD yields.

that’s it, im calling a top….

[moneymaker]

A top to what? I’m saying sunny till the election is over…then?

[scaredyclassic]

no. today. the stock market. based on one data point.

[desmond]

You picked a bad day for that call.

[Huckleberry]

Seriously bad call…

Glad I went to opposite direction and bought calls!

[Coronita]

I think we’ll get a nice ride up. I think dumb money is moving back into equity after figuring out cd rates and savings rate are going to remain pathetically low.

[spdrun]

…as are dividends on any stable stocks. But hey, if it keeps money out of real-estate, that’s a good thing.

This being said, here’s hoping for DOW 8000 after an Obama win! *clink*

[Diego Mamani]

I tend to agree with Squat250 on this… today may not be the absolute peak, but we’re probably within 5%-10% of the peak for 2011-2013.

His senior citizen relative is buying high, unfortunately, and when the market turns down in a few weeks or months, he/she will panic and sell low.

[briansd1]

S&P is at 4 year high.

Are we better off than we were 4 years ago? I think so.

[Coronita]

i hope that we see a rally for the next 2 weeks, and hope do a major short squeeze damage. ECB action seems to be helping sentiments.

[desmond]

[quote=briansd1]S&P is at 4 year high.

Are we better off than we were 4 years ago? I think so.[/quote]

Glad to see your back to your old ways of screwing up every topic with your political comments, I thought you had a time out and learned your lesson.

[briansd1]

Politics? I’m talking economics on this thread.

Home prices are up. The stock market is up.

Along the coast, in places like Carmel Valley, Laguna Niguel, etc.. prices have recovered and are just below peak levels.

Our portfolios are doing better than 4 years ago, no?

[UCGal]

[quote=briansd1]S&P is at 4 year high.

Are we better off than we were 4 years ago? I think so.[/quote]

You’re confusing the stock market with the broader economy.

Keep in mind that the middle income earners (40th to 60th percentile) had a median net worth of $65,900. That includes any equity in their house.

http://abcnews.go.com/blogs/business/2012/06/family-net-worth-down-to-early-90s-level/

Not everyone has money invested in the stock market. Piggs are not typical.

[briansd1]

Good point UCgal.

The stock market has been good to capitalists and pension funds. Capitalists don’t have much to complain about.

The stabilizing of home values is good for household wealth and consumer confidence. And consumer confidence translates to a better economy. It’s all interrelated.

[spdrun]

The good news about home values is that REOs are just starting to hit the market again in the NYC/NJ area.

Just got back from looking at a decent bank-owned duplex offered for $120k, needing maybe $20k of work, and capping out at between 8% and 9% in the end.

[Author]

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