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Transfer 7/28 for 7/29/04
- Thread starter tsptalk
- Start date
imported post
Mike wrote:
OK, maybe that's too optimistic. My real answer is earnings are growing an a rate not seen in years and stocks are flat to down over the last six to eight months. Add the fact that the economy is growing. I can't see them not buying. It's that wall of worry.
Tom
Mike wrote:
I saw a site called tinylink.com that is supposed to eliminate that. I was going to try it with some of those Yahoo quote links that can't be posted.I just hate it when I try copy-pasting links into here and they display like that... oh well. I'm too lazy to try to fix it more than once.
Since fund managers have rules about the limit of cash they can hold, it might be a "last one in is a rotten egg" buying frenzy.
OK, maybe that's too optimistic. My real answer is earnings are growing an a rate not seen in years and stocks are flat to down over the last six to eight months. Add the fact that the economy is growing. I can't see them not buying. It's that wall of worry.Tom
smine
Member
imported post
Tom said Sunday "It's supposed to be a time when bad news is shrugged off."
That looks like what happened today. More crying WOLF has left most people continuing whatever they were doing. Even though this threat was "more specific" than the last ones, what's a person to do? Carry on, Wall Street. Glad I have 66% in C/S; 34 in G.
Tom said Sunday "It's supposed to be a time when bad news is shrugged off."
That looks like what happened today. More crying WOLF has left most people continuing whatever they were doing. Even though this threat was "more specific" than the last ones, what's a person to do? Carry on, Wall Street. Glad I have 66% in C/S; 34 in G.
Mike
Active member
imported post
Here's an AP article on yesterday's action (or lack thereof):
Stocks shake off terrorism fears
Seth Sutel, Associated Press
August 3, 2004 STOCK0803
NEW YORK -- Investors struggled Monday past concerns over the potential for a terrorist strike, sending stocks modestly higher after an upbeat earnings report from Procter & Gamble Co. and a positive reading on manufacturing activity.
Financial stocks were under pressure after the government warned over the weekend that terrorists could target U.S. financial institutions, including the New York Stock Exchange, Citigroup Inc., Prudential Financial Inc. and the World Bank.
But after spending much of the day in a slump, the main market indicators ended modestly higher after a late round of buying, repeating a now-familiar pattern.
The Dow Jones industrial average closed up 39.45 or 0.4 percent, at 10,179.16. It was the Dow's fifth-straight advance, its longest rally of the year and the first time since early December that it put together five consecutive winning sessions.
The Standard & Poor's 500 index rose 4.90 or 0.4 percent to 1,106.62, and the Nasdaq composite index was up 4.73 or 0.3 percent to 1,892.09.
Bryan Piskorowski, a market analyst at Wachovia Securities based in Richmond, Va., attributed the late bounce to six weeks of an oversold market rather than a turnaround in sentiment.
"We toughed it out today," Piskorowski said. Despite the afternoon comeback, he said, trading volume was light, which shows some weakness. "You don't get much of a sense of conviction. ... It's hard to conjure up a scenario for an up, up and away August."
Sam Stovall, chief investment strategist at Standard & Poor's, said concerns about terrorism, along with high oil prices and uncertainty about the economy, have been part of what investors are calling Wall Street's "wall of worry."
"And it's not just everyday terrorism concerns. It's linked to the conventions, the Olympics," Stovall said. "How do you factor in an unknown event?"
Here's an AP article on yesterday's action (or lack thereof):
Stocks shake off terrorism fears
Seth Sutel, Associated Press
August 3, 2004 STOCK0803
NEW YORK -- Investors struggled Monday past concerns over the potential for a terrorist strike, sending stocks modestly higher after an upbeat earnings report from Procter & Gamble Co. and a positive reading on manufacturing activity.
Financial stocks were under pressure after the government warned over the weekend that terrorists could target U.S. financial institutions, including the New York Stock Exchange, Citigroup Inc., Prudential Financial Inc. and the World Bank.
But after spending much of the day in a slump, the main market indicators ended modestly higher after a late round of buying, repeating a now-familiar pattern.
The Dow Jones industrial average closed up 39.45 or 0.4 percent, at 10,179.16. It was the Dow's fifth-straight advance, its longest rally of the year and the first time since early December that it put together five consecutive winning sessions.
The Standard & Poor's 500 index rose 4.90 or 0.4 percent to 1,106.62, and the Nasdaq composite index was up 4.73 or 0.3 percent to 1,892.09.
Bryan Piskorowski, a market analyst at Wachovia Securities based in Richmond, Va., attributed the late bounce to six weeks of an oversold market rather than a turnaround in sentiment.
"We toughed it out today," Piskorowski said. Despite the afternoon comeback, he said, trading volume was light, which shows some weakness. "You don't get much of a sense of conviction. ... It's hard to conjure up a scenario for an up, up and away August."
Sam Stovall, chief investment strategist at Standard & Poor's, said concerns about terrorism, along with high oil prices and uncertainty about the economy, have been part of what investors are calling Wall Street's "wall of worry."
"And it's not just everyday terrorism concerns. It's linked to the conventions, the Olympics," Stovall said. "How do you factor in an unknown event?"
oneyoungbuck
Member
imported post
This section is for the Administrators comments on his TSP allocations and why he believes the market will do certain things (up or down). This is not for someone to write, should I say copy, an article out of the newspaper about the days action on the market. Have a little more respect for his ingenuity (Administrator) for he is the founder of this incredible website.
This section is for the Administrators comments on his TSP allocations and why he believes the market will do certain things (up or down). This is not for someone to write, should I say copy, an article out of the newspaper about the days action on the market. Have a little more respect for his ingenuity (Administrator) for he is the founder of this incredible website.
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