A 2009 Record Stock Market High
I am looking forward to reading the net asset values of my mutual funds in the morning;
The Dow Jones Industrial Average rose 203.52 points, or 2%, to 10,226.64 — its best finish since Oct. 3, 2008 and the second 200-point gain in three trading days.
So much for the Obama Bear Market….
So much for the USA turning into a “Zimbabwe”…….
But hey, I had thoughts in the same manner under the first two years of Clinton.
September third quarter equity statements were absolutely brilliant…..
Job loss numbers shrinking dramatically……
December year end equity statements will be nothing less than spectacular……
The mid year elections will be won or lost depending on how IRA and 401K statements look in September 2010. But in the end that is good because it forces politicians to watch the DOW with their every action.
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November 9th, 2009 at 4:42 pm
Oak Leaf:
The higher the Dow goes the more you post. It should be at 15000 in another 4-5 months, right? Bet the farm, Sherlock. Easy money.
[Months ago, you had all kinds of comments on doom and gloom. But you were not alone. Besides, last March I went 100% equities from the very large cash position I had built up. Oh, cute remark on 15000. The reality is that by the time of election 2012, the DOW will be at an all time record high. Once the 2010 elections come and pass, I suspect the rabid right will start investing again after eying all the missed opportunities. But I have said before, been there and done that. I could not see straight in 1993/1994, listened to Limbaugh too much. I then threw in the towel and proceeded to make a lot of money.
Here is a great comment you made!!
OL]
[Oh, how about explaining the Obama Bear market? Talk radio had some real good ones. OL]
[Oh, to the lefty trolls. The DOW would be close to where it is today even under President McCain!! OL]
November 9th, 2009 at 4:52 pm
Gold also hit a high of over $1100/oz. Inflation is on the way.
November 9th, 2009 at 5:34 pm
Oakleaf – other than being a mouthpiece for Obama, you are not very smart either. With the jobless rate hitting 10.2 and job losses with no end in sight, I wouldn’t be betting on a stable recovery at this point. You might want to note that while 190k is less than 700k, unemployment is likely to peak 10% above it’s current rate when job growth resumes. At this point, that puts the rate at 11.2 or so AND of course we don’t have growth.
Job growth is lagging indicator inasmuch as there is growth. We don’t have growth yet. 190k is still a long way from that.
November 9th, 2009 at 5:40 pm
Oh, to the lefty trolls. The DOW would be close to where it is today even under President McCain!! OL
How about a President Palin?
[Your question is a nonsense question. Election 2008 was between Obama and McCain. Only the unhinged on the right used Palin as an excuse to vote for McCain. It was their crutch because they could not look at themselves in a mirror and say it was OK to vote for McCain. Me? I created no excuses and left the entire top line blank!! They are both two peas in a pod. OL]
November 9th, 2009 at 5:47 pm
The economy is trying to recover, based on what is happening now. But there are too many risks and unsustainable trends in place for that to continue. 6 months from now, things will not be as they are now. Dollar, commercial real estate, inflation, monetization.
But, the Bernanke types just figure they can drop endless money bombs to put these fires out, and everything will be fine. We will see.
I’ll admit to being surprised that the markets have continued up, although my gold has risen faster than my stocks, I have been watching them. Quit a bit faster, in fact.
But, I had thought that Obama would have been largely through gutting the free market by now, and with mass unionization, cap and trade, and huge tax increases, the DOW would be at 4,000.
Obama has not gotten what he wanted, but he is not stopped yet. I think many are in a “make it now, while you still can” mode, that Kudlow describes, and the fall comes later.
Who knows. Rs take back the house in 2010, I jump back in stocks both feet instead of 2 toes…If they don’t I assume the market will peak and fall again.
Funnily enough, for all the snark, the poster forgets (heh) the Dow was at 3500 when the Rs took congress, and the explosion in stocks took place in an environment where the percent of GDP controlled by the Feds was low and dropping, rather than now, when it is high and climbing.
Again, don’t let the facts stand in your way. And hey, more power to the ones making the largest returns. The challenge will be to hold onto it.
November 9th, 2009 at 5:54 pm
Took congress in 1994, I meant to say.
And hey, it’s a free country. It’s not against the law to be a coward, or a money lover, as this poster is, and to pretend to see no difference between socialism and liberty.
The officer corp is full of political hacks, cowards and politically correct suckups, as we know from the remarks of the commander of Ft Hood, than he hopes the murder of American soldiers by a muslim terrorist will not deal a blow to the army’s carefully constructed paper house of diversity.
God forbid we lose our love of diversity while we mop up the blood.
So, we get the words of a coward and political hack, (who is an evangelical of course, lol, great another lunatic like Huckabee (“Jeeysus loves big government, hallelujah, amen”)
November 9th, 2009 at 5:58 pm
I finally agree with Right Wing Yahoo on something.
I must say I love watching all the lefties claim that everything is better now and that the recovery will be like the 1982 recovery using the peak to trough recession canard. The only thing we know about this recession is that the pain will long be felt. That will hurt Obama and his party when all is said and done.
AND let’s talk about oil. It’s at 80 now. Wonder what it goes to when Israel attacks Iran.
November 9th, 2009 at 6:04 pm
Steve, you’re for amnesty, right, and turning Texas, FL, NC, VA, and AZ blue for good, right?
Giving the Dems an electoral lock on the WH for a century right?
If I remember correctly from 2007, you thought amnesty was a real winner, and that opponents of amnesty were racist.
[Yes he is an amnesty supporter, just like MFG who sees them as natural GOP voters. Since Steve and MFG supported amnesty under Bush what will they say under Obama. If they are not craven hypocrites they will still support it. OL]
November 9th, 2009 at 6:33 pm
I don’t believe the economy is recovering, only that it is trying to recover, and waiting for the next shoe to drop.
The odds that shoe will be a bad one, far outweigh the odds it will be a good one.
For the economic crises to end, a long series of good things have to happen, the failure of any one of which can tank the whole thing.
IMO.
November 9th, 2009 at 6:51 pm
US has taken Japans place as the base for the carry trade. Asset bubble forming of mythic proportions.
November 9th, 2009 at 7:01 pm
Oak Leaf:
“The mid year elections will be won or lost depending on how IRA and 401K statements look in September 2010.”
Wrong again, Einstein. The elections will hinge on whether the country wants the Democrat brand of socialism. Initial results do not support your position.
[There are many seats that have been gerry mandered so not much can happen there. But healthy statements means the INCUMBENT party will maintain their control. Ken, its NOT about politics its about incumbency. The statements I make today, are the exact same I made under Bush!! I do not flip on my comments because Ds are in control. OL]
November 9th, 2009 at 7:22 pm
OL, the one hit wonder
hit replay
November 9th, 2009 at 9:16 pm
Why is this left wing extremist allowed to post here? When will Oak Leaf be banned?
November 9th, 2009 at 9:48 pm
This blog sucks!
November 10th, 2009 at 6:28 am
Oak Leaf:
“But healthy statements means the INCUMBENT party will maintain their control.”
More idiocy. 1994 was the largest shift in power in decades. It wasn’t due to financial statements, tiger. It was caused by corruption.
You may have noticed you are not well thought of by long term posters on the board. Think before you post. You’ll get less ridicule.
November 10th, 2009 at 6:46 am
I do believe this is still a bear market. With 10% unemployment and growing, you need a consuming base to support such high numbers in the stock market. After all, someone has to buy these products that those public traded companies have to offer. Right now, that is not happening. Christmas retailers are forecasting low turnout for consumers, and we will see how that plays out in the stocks.
The stock market is up right now, due to huge injections of cash from the federal reserve and the promise of continued low interest rates. This same thing happened in 1932, and a crash happened shortly after. Will we see a repeat of history? I certainly hope not, but history tells us this will happen.
Many economists, such as Mark Faber and Peter Schiff, who predicted the 2008 crisis also share my views that an even larger crash in inevitable. Mark Faber has even claimed the dollar will lower itself to not having any value! I don’t think this will happen, but it will continue to lower itself, gold will continue to rise, and inflation will most certainly increase.
November 10th, 2009 at 9:01 am
No, JokeLeaf, you repeatedly stated that Republicans would suffer at the polls and lose more seats by not “embracing” the recovery. In the words of my son, EPIC FAIL!
[The GOP and their enablers look like Fools for declaring the Obama Bear Market because if he was responsible for the decline, he gets credit for the surge. By September 2010, things will be even better and it will be hard not to take notice. Democrats will no doubt have ads that show people opening up their financial statements and crediting the dems. Oh, where did I learn this crazy idea? None other than Karl Rove when he helped re-elect Bush and many other GOPers. The best strategy for the GOP would have been to say "we need to preserve and protect the fragile recovery, this is how." Instead you have a political party invested in the economic failure of the USA. They know they can only win with bad news. Why did the GOP stop talking about the DOW? They liked to talk about it in March. OL]
November 10th, 2009 at 10:22 am
Thank God above that we have a deep thinker like you around, Oak Leaf. Because you understand this better than most, how about you explain to Warren Buffett what a boneheaded move buying all of Burlington Northern/Santa Fe was. Does he not understand that if he owns all of it the price cant easily follow the good times ahead? I am afraid he has spelled doom for Berkshire Hathaway.
I mean, it is almost like he is not even comfortable with dumping it in gold because of government manipulation of the gold market. I mean, I mean, well who knows what I mean. I am just gonna sit on the porch sipping a soda waiting for my 401 statement. Let the fools just hoard the means of production, I wanna make millions in the equities.
November 10th, 2009 at 3:16 pm
Who is this joker “Oak Leaf”? First of all, the Dow is a composite of 30 companies, disregarding the remaining companies in the market. That it goes up or down is not a relevant indicator of the economy in most circumstances. The Dow at 10,200 did not create 1 more job than the Dow at 10K, or the Dow at 8K; in fact, unemployment rose to 10.2%, despite Obama’s claims that unemployment will not rise aboev 8% if we pass stimulus now (his “Mission Accomplished moment”).
The reason the Dow rose was b/c it was again confirmed that the government would continue to feed the market money to artificially prop it up. Either the money runs out, and the floor drops, or they keep printing money like they have and its worth nothing. Hence, gold increased to $1100 an ounce.
And, with the increase in stock price of the top 30, the P/E is increasing as well. Which means the company is not earning any more, its just increasing in price. That cannot be sustained.
Housing still has another 10-20% to drop.
Unemployment will be at 11% next year.
Pls dont post about economics and wall street. You know as much as Obama.
November 10th, 2009 at 9:34 pm
OakLeaf – “Why did the GOP stop talking about the DOW? They liked to talk about it in March.”
No nitwit, nobody was talking about the Dow. They were just laughing about your prediction that the Repubs would suffer for “not embracing the Obama recovery”. It was you who then started talking about the Dow when no recovery was forthcoming.
November 18th, 2009 at 12:36 am
Investing in the stock market is fun. If you choose to manage your stock portfolio yourself you will realize that you can make money from the stock market and have fun doing it
November 25th, 2009 at 12:20 pm
I think it is essential to keep track of ones portfolio on a regular basis. For me it ease me to know my asset’s value is growing, and if something happens to my holdings, I just need to know what causes it then make some timely actions.
July 25th, 2010 at 6:55 am
You can find shoes made from an assortment of materials and fabrics. You will be able to find something that will perfectly co-ordinate with your outfits.