Discuss Market Comments 10/07

Riding resistance- Stocks were mixed yesterday as the Dow added 23-points, the S&P 500 was flat, and the Nasdaq lost almost 20 on the day. After Tuesday's rally, this was not significant, but some follow-through would have been more bullish.

Market Commentary for 10/07/10

Current Daily Market Commentary

 

[coolhand]

Speaking of the economic collapse of America, this came out yesterday...

Goldman Sachs Says U.S. Economy May Be `Fairly Bad'

http://www.bloomberg.com/news/2010-...y-to-be-fairly-bad-recession-is-possible.html

How many S&P points is this worth in the next 6 months?

 

[Cortez]

Speaking of the economic collapse of America, this came out yesterday...

Goldman Sachs Says U.S. Economy May Be `Fairly Bad'

http://www.bloomberg.com/news/2010-...y-to-be-fairly-bad-recession-is-possible.html

How many S&P points is this worth in the next 6 months?

It may be useful to keep an eye on POMO activity as a gauge of the level of support the FED is providing under the equity market. On Oct 13 the NY FED will have a news release indicating whether another round of POMO will be provided, and if so, the scheduled dates of such activity.

 

[tsptalk]

Speaking of the economic collapse of America, this came out yesterday...

Goldman Sachs Says U.S. Economy May Be `Fairly Bad'

I saw that. They are starting to pile up, but that was the first from a reputable agency. Others, like Charles Nenner who is calling for Dow 5000, are less known, although he did work for Goldman a few years ago.

 

[coolhand]

I saw that. They are starting to pile up, but that was the first from a reputable agency. Others, like Charles Nenner who is calling for Dow 5000, are less known, although he did work for Goldman a few years ago.

You're pretty loose with that term "reputable agency". :laugh:

 

[tsptalk]

You're right. Maybe "well known", or infamous, agency?

But they are today's EF Hutton. When Goldman talks...

 

[crws]

...CNBc squawks

 

[Cortez]

...CNBc squawks

When the market is up the squawking on cnbs is unbearable. "What are you going to buy?" "How high can the market go?" or to a bearish guest after predicting doom and gloom- "So what are you buying?"

Of course when the market is down you have "is this a good pullback to buy?"

I would love a guest to say that he or she is buying cash in exchange for their shares in XYZ.

 

[coolhand]

When the market is up the squawking on cnbs is unbearable. "What are you going to buy?" "How high can the market go?" or to a bearish guest after predicting doom and gloom- "So what are you buying?"

Of course when the market is down you have "is this a good pullback to buy?"

I would love a guest to say that he or she is buying cash in exchange for their shares in XYZ.

I usually find myself hitting the mute button when I turn to this channel. I'm generally only interested in the ticker. I can handle seeing lips move, but beyond that...