Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Dow ends above 11,000 for first time in 18 months
AP on Yahoo ^ | 4/12/10 | Stephen Bernard and Tim Paradis - AP

Posted on 04/12/2010 2:02:15 PM PDT by NormsRevenge

NEW YORK – The Dow Jones industrial average has closed above 11,000 for the first time in a year and a half on investors' rising hopes about the economy.

The Dow edged up about 9 points Monday to almost 11,006. The Standard & Poor's 500 index came within a point of hitting its own milestone of 1,200 during trading but closed just short of that mark.

A loan agreement for Greece allowed U.S. investors to focus on domestic economic and corporate news, including announcements of two big deals.

European leaders agreed over the weekend to make loans available to Greece to help the country lower its public debt burden. The 16 countries that use the euro agreed to provide $40.5 billion in loans to Greece if needed. The International Monetary Fund could contribute another $13.5 billion.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Culture/Society; Your Opinion/Questions
KEYWORDS: 000; 11; 11000; bhodjia; bhoeconomy; dow; dow10000; firsttime; wallstreet

1 posted on 04/12/2010 2:02:15 PM PDT by NormsRevenge
[ Post Reply | Private Reply | View Replies]

To: NormsRevenge
SUCKERS RALLY
2 posted on 04/12/2010 2:04:27 PM PDT by dubie (The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge

How soon before “The One” takes credit?


3 posted on 04/12/2010 2:04:29 PM PDT by Paisan
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge
I might have to get in for this suckers rally.

Eat my Shorts, y'know? LOL

4 posted on 04/12/2010 2:04:29 PM PDT by Lazamataz ("We beat the Soviet Union. Then we became them." -- Lazamataz, 2005)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge

Time to get out.


5 posted on 04/12/2010 2:04:37 PM PDT by CommieCutter (..If you think about it they are all sucker rallies...the pros know when to get out...-- Hojczyk)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dubie

Or is this the impending mega-inflation hedge rally?


6 posted on 04/12/2010 2:05:27 PM PDT by KC Burke (...but He has made the trains run on time.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: CommieCutter

Buy low, sell high. Works every single time it is tried.


7 posted on 04/12/2010 2:05:59 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Paisan

How soon before “The One” takes credit?


He’ll take credit today and when it crashes he’ll blame
Bush.


8 posted on 04/12/2010 2:06:59 PM PDT by unkus
[ Post Reply | Private Reply | To 3 | View Replies]

To: KC Burke

Yes. In case you haven’t noticed precious metals are closing in on record highs. If this were a real recovery, metals would be down. By the time the world ends in 2012, gold will have topped $2000.


9 posted on 04/12/2010 2:08:31 PM PDT by CholeraJoe ("And the pony looked a little bored...")
[ Post Reply | Private Reply | To 6 | View Replies]

To: Paisan

IIRC, he said that he didn’t follow the day to day fluctuations in the market. /s


10 posted on 04/12/2010 2:08:52 PM PDT by Aggie Mama
[ Post Reply | Private Reply | To 3 | View Replies]

To: NormsRevenge

Europe is borrowing the loan money from China, who bought the money from us, and we got the money from the stimulus package, which was borrowed from our treasury, which borrowed the money from CitiBank, which was bailed out by the TARP fund, which was borrowed from Europe.


11 posted on 04/12/2010 2:11:11 PM PDT by Rennes Templar
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge
Means nothing.

Done on light volume after FASB changes allowing "mark to fantasy" in March 2009.

Watch the credit markets instead. They're still showing that our economy is in very bad shape, with reckless federal government spending being the only thing keeping us from realizing the depth of the depression that we're mired in.

People keep talking about inflation or hyper-inflation. They should be talking about major deflation and depression instead.

12 posted on 04/12/2010 2:13:41 PM PDT by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: politicket

I would say cycles of both hyperinflation and deflation (even devaluing currency).


13 posted on 04/12/2010 2:20:12 PM PDT by Thunder90 (Fighting for truth and the American way... http://citizensfortruthandtheamericanway.blogspot.com/)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Thunder90
I would say cycles of both hyperinflation and deflation (even devaluing currency).

There is absolutely no evidence for any form of hyperinlation - and the dollar index has been strengthening over the past number of months.

Watch for the dollar index to move into the 90's - and possibly break 100 as this all plays out...highly deflationary.

14 posted on 04/12/2010 2:24:59 PM PDT by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
[ Post Reply | Private Reply | To 13 | View Replies]

To: NormsRevenge
Pssst!

(After we take the $500B out of the markets as planned, we'll put it back in gradually, inch by inch. No one will suspect a thing. Give it 18 months or so. That way no one connects the dots to our little October surprise.)

Brilliant!

Photobucket
15 posted on 04/12/2010 2:29:06 PM PDT by Canedawg (I'm not digging this tyranny thing.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge

The quiet rally before the back end of the huricane wall hits.....


16 posted on 04/12/2010 2:31:03 PM PDT by cranked
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge

The Plunge Protection Team is working overtime.


17 posted on 04/12/2010 2:31:57 PM PDT by dfwgator
[ Post Reply | Private Reply | To 1 | View Replies]

To: NormsRevenge

Does this mean the recession is over, and the stimulus, TARP, omnibus, Stimulus II (jobs bill) have saved us???? Yeah!!!! I can go back to sleep now with the rest of America!!! Man am I tired.....


18 posted on 04/12/2010 2:34:05 PM PDT by Anti-Hillary (Yo Barry, IF FOR 20 YEARS YOU STAY IN THE PEW, IT'S BECAUSE YOU SHARE THE VIEW!!!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Thunder90
I would say cycles of both hyperinflation and deflation (even devaluing currency).

I would, too. I see gas prices going up, but I also see house prices dropping due not to any strength in the dollar, but to lack of demand.

I also see a lot of empty office space around where I work. That can't be helping commercial real estate prices.

19 posted on 04/12/2010 2:36:14 PM PDT by TwelveOfTwenty (Compassionate Conservatism? Promoting self reliance is compassionate. Promoting dependency is not.)
[ Post Reply | Private Reply | To 13 | View Replies]

To: politicket

Hey Brad, good to see you here. I’ve been in withdrawals from your daily newsletter. I know you’ve been busy, but am looking forward to seeing your email in my inbox soon!! :)


20 posted on 04/12/2010 2:41:01 PM PDT by American72 (Sick of Liberals)
[ Post Reply | Private Reply | To 14 | View Replies]

To: American72

I should be getting started again later this week...


21 posted on 04/12/2010 2:48:16 PM PDT by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
[ Post Reply | Private Reply | To 20 | View Replies]

To: CholeraJoe
Yes. In case you haven’t noticed precious metals are closing in on record highs. If this were a real recovery, metals would be down. By the time the world ends in 2012, gold will have topped $2000.

FASB (Federal Accounting Standards Board) just implemented two new rule changes. This made it "appear" that our M2 money supply had increased by over $400 billion towards the end of March.

Precious metals investors have misread this as an inflationary sign - but in reality it means no such thing.

Gold and silver will be dropping in price from their current levels in the months ahead.

Folks need to understand that it is deflation we are staring at - not inflation - and DEFINITELY not hyperinflation.

22 posted on 04/12/2010 2:52:46 PM PDT by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: politicket

So with deflation isn’t it less likely we can pay the interest on our debt and the principle on the bonds as they reach maturity?

I thought that the only hope (what a stupid use of the word) of paying this down was vastly inflation impacting our ability to pay.


23 posted on 04/12/2010 2:58:07 PM PDT by KC Burke (...but He has made the trains run on time.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: KC Burke
So with deflation isn’t it less likely we can pay the interest on our debt and the principle on the bonds as they reach maturity?

That's EXACTLY correct!

That's what most people don't understand. The Fed and the Federal government are at polar opposites - not working hand-in-hand as most people think.

The Fed is just an organization acting as an interface between the international banks and the Federal government, but is completely controlled by the banks.

The bankers have shut off the "credit valve" to every developed nation in the world. "Credit" is the same as "money" in our M2 money supply.

Massive credit defaults are causing massive monetary destruction. The Federal government has been trying to alleviate this by creating new debt (money) as fast as it can. They can't do it fast enough by themselves, so they are trying to get the public to help them by offering "cash for clunkers", "first-time homebuyers", etc.

The Federal government is a dying patient - and will remain that way unti the bankers decide to open up the "credit valve" again. I don't expect that to happen for another 8 or 9 years at the earliest, based on history.

24 posted on 04/12/2010 3:08:31 PM PDT by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
[ Post Reply | Private Reply | To 23 | View Replies]

To: American72

Crash is imminent imo - DOW 6000-7000 appears likely. If you missed this rally then now is not the time to get in.


25 posted on 04/12/2010 3:13:15 PM PDT by silentknight
[ Post Reply | Private Reply | To 20 | View Replies]

To: NormsRevenge

“European leaders agreed over the weekend to make loans available to Greece to help the country lower its public debt burden. The 16 countries that use the euro agreed to provide $40.5 billion in loans to Greece if needed. The International Monetary Fund could contribute another $13.5 billion.”

What will happen when the other parts of USPIGS start to default...hold onto your hats folks. There aint enough money in the world to bail all of us out...


26 posted on 04/12/2010 3:22:51 PM PDT by SeattleBruce (God, Family, Church, Country - 11/2010, 11/2012 - Tea Party like it's 1773 & pray 2 Chronicles 7:14!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeattleBruce

“There aint enough money in the world to bail all of us out...”

Nor enough debt facilitations in the world...at some point reality will collapse this debt laden House of Cards.


27 posted on 04/12/2010 3:30:52 PM PDT by SeattleBruce (God, Family, Church, Country - 11/2010, 11/2012 - Tea Party like it's 1773 & pray 2 Chronicles 7:14!)
[ Post Reply | Private Reply | To 26 | View Replies]

To: NormsRevenge

Still waiting for the Dow to hit 13,000 when I sold off most of our stocks and stock funds in out 401(k) plans (transferred to other assets). Have gained a bit over 14% since, meaning the Dow needs to hit 15,000 to catch up to where we are at (assuming our current investment goes flat - not likely).


28 posted on 04/12/2010 3:31:56 PM PDT by CatOwner
[ Post Reply | Private Reply | To 1 | View Replies]

To: silentknight; All
Crash is imminent...

Don't agree. The likelihood of a GOP win in the congressional elections will have a soothing effect as we head toward November.

29 posted on 04/12/2010 3:39:25 PM PDT by justiceseeker93
[ Post Reply | Private Reply | To 25 | View Replies]

To: NormsRevenge

and the money is worth what???


30 posted on 04/12/2010 3:46:51 PM PDT by Vaquero (BHO....'The Pretenda from Kenya')
[ Post Reply | Private Reply | To 1 | View Replies]

To: politicket

We think along similar lines. I see deflation, and I see it lasting for 5-7 years. I predict the DOW sees 7,500 before it breaks 12,000. I have been slowly taking money out of the stock market and am quite light now.

Nat gas about the only thing that looks interesting right now. I may be prejudiced there as I am collecting royalties. The ratio of oil to nat gas price looks favorable for nat gas.


31 posted on 04/12/2010 4:06:34 PM PDT by SaxxonWoods (Gone Galt and loving it)
[ Post Reply | Private Reply | To 24 | View Replies]

To: NormsRevenge

You know, the DOW is just another poll. They don’t even pay attention to it (when it’s down.)

When it’s up, they’re happy to take credit. :)


32 posted on 04/12/2010 4:26:41 PM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
[ Post Reply | Private Reply | To 1 | View Replies]

To: silentknight

F....K!
HA!

Get in with what? ha. My retirement tanked on the last go around...I switched over everything to a straight money market...then today I saw the DOW and said to myself”YOU idiot! you should have left it in the index...”

then I get on freep...and now I feel better.

(I know. I know ...why would I listen to you guys when I can get such stellar financial advice as I have in the past from all the financial gurus: Diversify, index funds, blah, blah, blah!..what a joke.....rather be on here.)


33 posted on 04/12/2010 4:26:43 PM PDT by Recovering Ex-hippie (Ok, joke's over....Bring back Bush !)
[ Post Reply | Private Reply | To 25 | View Replies]

To: politicket
light volume = GS churning the market

All in the name of Nat’l security and the PPT

34 posted on 04/12/2010 4:28:31 PM PDT by M-cubed
[ Post Reply | Private Reply | To 12 | View Replies]

To: Paisan

As soon as we gain another 1400 points we will be back where we were when Pelosi/Reid took control of Congress.


35 posted on 04/12/2010 4:38:22 PM PDT by csmusaret (Sarah Palin thinks everyday in America is the 4th of July. Obama thinks it is April 15th.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: NormsRevenge
See - boy king is right - Economy on the rebound due to the wonderful actions he alone has taken. /sarc
36 posted on 04/12/2010 6:02:14 PM PDT by Cheerio (Barack Hussein 0bama=The Complete Destruction of American Capitalism)
[ Post Reply | Private Reply | To 1 | View Replies]

To: M-cubed

BINGO! We have a winner.

Not for National Security but for DNC re-election campaigns.


37 posted on 04/12/2010 6:08:01 PM PDT by Freedom_Is_Not_Free (Bye bye Miss American Freedom. When did we vote for Communism?)
[ Post Reply | Private Reply | To 34 | View Replies]

To: Freedom_Is_Not_Free

People who got in when the market crashed have made a killing. You got have bought GE in the single digits! Ford the same. Microsoft in the teens. All those stocks have double - tripled - or more.

DOW 5000-6000 would be a mega-buying opportunity.


38 posted on 04/12/2010 6:16:21 PM PDT by silentknight
[ Post Reply | Private Reply | To 37 | View Replies]

To: Cheerio

If you are in this manipulated market get out now. The Fed is pumping up this market through its puppet brokers ( JP Morgan —Bear Stearn) . They are using printed money and buying selected Dow and NASDAQ components stocks and trying to stabilize the sinking ship. They go through brokers who don’t have a clue and using nominal large institutions as buyers to manipulate the market.


39 posted on 04/12/2010 6:16:47 PM PDT by rogertarp
[ Post Reply | Private Reply | To 36 | View Replies]

To: silentknight

“Crash is imminent imo - DOW 6000-7000 appears likely. If you missed this rally then now is not the time to get in.”


Low volume of trading? Bad price to earnings ratios? What do you see?


40 posted on 04/12/2010 7:07:13 PM PDT by CommieCutter (..If you think about it they are all sucker rallies...the pros know when to get out...-- Hojczyk)
[ Post Reply | Private Reply | To 25 | View Replies]

To: NormsRevenge

Party on, Garth!


41 posted on 04/12/2010 8:14:15 PM PDT by an amused spectator (Watching the MSM with Obama is like watching Joslyn James with Tiger Woods)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rogertarp

I would think they are using futures near the close. It is so being manipulated. Light volume with little up 20 point days or much less than 1% up and maybe a little pull back day.

A lot liket he late summer of 2008 probably went through Chicago with the CBOE and CME which I think does futures and credit default swaps. All manipulated.


42 posted on 04/12/2010 10:07:26 PM PDT by Frantzie (McCain=Obama's friend. McCain called AMERICANS against amnesty - "racists")
[ Post Reply | Private Reply | To 39 | View Replies]

To: dubie

Yep. No way does this sustained upward-moving market reflect any underlying reality. It’s a house of cards built on a foundation of hot air. It’s going to come down and come down hard.


43 posted on 04/12/2010 10:10:19 PM PDT by GovernmentShrinker
[ Post Reply | Private Reply | To 2 | View Replies]

To: NormsRevenge

I went to Yahoo finance a few minutes ago. I saw the Dow was going to close negative at just before 4 pm and someone came in at almost the last second and bought. The market closed up +8.62 on the Dow.

I wish I had a bloomberg terminal to see where that last second buying came from. My guess us the PPT in the futures markets. Huge volume surge too. Have to have been almost at 3:55 pm or so.

http://finance.yahoo.com/q/bc?s=%5EDJI&t=1d&l=on&z=l&q=l&c=


44 posted on 04/12/2010 10:44:36 PM PDT by Frantzie (McCain=Obama's friend. McCain called AMERICANS against amnesty - "racists")
[ Post Reply | Private Reply | To 1 | View Replies]

To: silentknight

Yep, I guessed wrong. As much as I guessed right by pulling 100% out of the market in December 2006, saving me a huge haircut on the way down, I guessed wrong in March 2009 when Obama telegraphed that the government would be manipulating the market to pump it up.

I always underestimate the ability of a corrupt government to manipulate markets in the short term.

The DOW belongs under 8000 and it is going back there in time. The fundamentals suck. As long as the government is going to manipulate things and prop up the market, anybody smart/lucky enough to ride the rally is making a killing. Congratulations on that.

I also underestimated the governments ability to force positive GDP numbers to be able to say the recession is over. Even with pathetic business growth, horrible fundamentals, unavailable credit, contining foreclosures, bank losses and closings, etc.

Note: I won’t touch unemployment as an indicator since it lags so badly behind growth, it tells you nothing about when the economy has turned.


45 posted on 04/13/2010 10:05:42 AM PDT by Freedom_Is_Not_Free (Bye bye Miss American Freedom. When did we vote for Communism?)
[ Post Reply | Private Reply | To 38 | View Replies]

To: Frantzie

I believe it. you will see alot of evidence in low volume days where no good reason exits for positive movement. It is very easy to control if you have billions of dollars freshly printed to do this.You just say you buy higher than everyone else. No body knows. Stock goes up. then buy some more — even higher. Seller would be an idiot not to sell . It should be restricted by law but it is not. The Fed actually is buying most of t-bills that are auctioned!! China is out. The largest foreign buyer is JAPAN!!! RIGHT!!! you can’t make that up.


46 posted on 04/13/2010 12:39:48 PM PDT by rogertarp
[ Post Reply | Private Reply | To 42 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson