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"Buy everything" sentiment continues on Wall Street
Reuters ^ | 02/19/11 | Angela Moon

Posted on 02/21/2011 5:24:48 AM PST by TigerLikesRooster

"Buy everything" sentiment continues on Wall Street

Fri, Feb 18 2011

By Angela Moon

NEW YORK (Reuters) - Investors will continue to ride the speediest rally in U.S. stocks since the Great Depression despite growing concerns that the market is overbought and due for a correction.

Wall Street posted its third consecutive week of gains with the S&P 500 now up 6.8 percent for the year and more than 20 percent in just six months.

"I've never seen a market like this," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont, a market watcher for 35 years.

"I'm showing, by every technical and quantitative standard I have, this market is at extreme levels. But no matter where we start out in the morning, buyers come in."

The trend of stocks starting off lower in the morning session but ending higher by the afternoon has been ongoing for weeks as investors view the small dips as reasons to buy.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: correction; rally; stock

1 posted on 02/21/2011 5:24:50 AM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

P!


2 posted on 02/21/2011 5:25:37 AM PST by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

FRBNY + POMO + QE2 = $$$ .


3 posted on 02/21/2011 5:28:55 AM PST by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: TigerLikesRooster

There were several “recovery rallies” during the Great Depression. They called them “suckers’ rallies.” That’s why people who know are buying gold and land.


4 posted on 02/21/2011 5:29:08 AM PST by kittymyrib
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To: TigerLikesRooster

-—”I’ve never seen a market like this,” said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont, a market watcher for 35 years.-—

Well, Mr. Mendelsohn, we’ve never had a Fed Chairman like this either.


5 posted on 02/21/2011 5:29:11 AM PST by MichaelCorleone (Sarah Palin is America's Margaret Thatcher)
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To: TigerLikesRooster

-——by every technical and quantitative standard I have-——

There you have it. Reading entrails doesn’t work


6 posted on 02/21/2011 5:31:08 AM PST by bert (K.E. N.P. N.C. D.E. +12 ....( History is a process, not an event ))
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To: kittymyrib; All

Zoom! :)

http://www.321gold.com/


7 posted on 02/21/2011 5:37:38 AM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust post-Apocalyptic skill set...)
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To: TigerLikesRooster

I keep being tempted to step back into the market. This is surely a death knell signal.


8 posted on 02/21/2011 5:40:48 AM PST by 6SJ7 (atlasShruggedInd = TRUE)
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To: kittymyrib

Have you noticed any articles citing the gold fever as a “suckers bet”?
(especially at these prices)

You can’t eat it, and in denominations of $1400/oz., you’d find yourself over-paying for groceries.


9 posted on 02/21/2011 5:45:37 AM PST by G Larry
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To: 6SJ7; All

This is just further proof that Reuters is in cahoots with the dark side.

The Markets haven’t reflected reality in some time.

What we are seeing is the Investment Banks Computers playing chess.

This will not end well and anyone jumping in will get burned.


10 posted on 02/21/2011 5:46:14 AM PST by Halgr (Once a Marine, always a Marine - Semper Fi)
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To: TigerLikesRooster
Investors will continue to ride the speediest rally in U.S. stocks since the Great Depression despite growing concerns that the market is overbought and due for a correction.

Hmmm... must be time to buy.

GLD

11 posted on 02/21/2011 5:59:30 AM PST by upchuck (When excerpting please use the entire 300 words we are allowed. No more one or two sentence posts!)
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To: TigerLikesRooster

The market is concerning. BUt hard to know how to respond to it.

Central planning regimes, to whatever extent they comprise governments, are in the process of failing all over the world (including, I hope, here in the U.S.). This ushers in a period of seeming chaos as — if the world is lucky — free or freer markets are allowed to utilitze TRUE pricing mechanisms and, therefore, create order.

I don’t know that there’s anywhere to hide, financially speaking. (Or otherwise, now that you mention it.)


12 posted on 02/21/2011 6:00:36 AM PST by fightinJAG (TAXPAYERS OF THE WORLD UNITE)
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To: bert
There you have it. Reading entrails doesn’t work

GOOD ONE!

13 posted on 02/21/2011 6:08:19 AM PST by jdsteel (I like the way the words "Palin for President" drive progressives absolutely crazy.)
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To: bert
There you have it. Reading entrails doesn’t work

GOOD ONE!

14 posted on 02/21/2011 6:08:29 AM PST by jdsteel (I like the way the words "Palin for President" drive progressives absolutely crazy.)
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To: G Larry

That’s it? Those are your reasons for not owning Gold?

“You can’t eat it” and “”It’s too large to use as currency”?

When Argentina and Mexico had their devaluation events, the only people who ate well were the ones with Gold. It turned out that supermarkets were very willing to change Gold into Silver, or to extend credit based on Gold.

Whereas - the people with wheelbarrows of worthless cash lost a lot of weight.


15 posted on 02/21/2011 6:17:00 AM PST by agere_contra (Historically every time the Left has 'expanded its moral imagination' the results have been horrific)
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To: Halgr
The Fed is manipulating to market, and are secretly propping it up with buys on a nearly daily basis.

If you watch the graphs of the dow you can clearly see when the government starts buying each day. Suddenly the pattern becomes more erratic. It's hard to explain without a picture but as stocks trade the indexes like the dow fluctuate on the way up and down... usually they have a sort of rounded look... but when the government starts buying these fluctuations become very sharp. I have been noticing this for a long time now and am surprised no one else has mentioned it. Most of these buys are either shortly after the open or near the end of the day.

16 posted on 02/21/2011 6:19:44 AM PST by TexasFreeper2009 (Obama = Epic Fail)
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To: TexasFreeper2009
I have made 10’s of thousands off noticing this the last few months. The market will open down and you can buy daily dow contracts cheap... then the government starts it's buying driving up the price and you can either get out early for 2 to 3 times your money then or hold it to the end of the day and see if they have another buy near the close and lock in a 6 to 10 bagger at dow +50 that you bought that morning at around 10 when the market was down at the open.
17 posted on 02/21/2011 6:28:18 AM PST by TexasFreeper2009 (Obama = Epic Fail)
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To: Halgr

Appears to me the only money in the market now is what the bozo administration is printing 24/7.

The “real” money prior to the present HMFIC being elected is still out of the market!

Without printing a bigger pile of of bozo’s funny money how will any refunds from this taxable year be paid back?


18 posted on 02/21/2011 6:53:11 AM PST by tiger63
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To: agere_contra

My post was a caution against over-reliance on gold AT THESE PRICES.

This isn’t Argentina or Mexico, and any financial crisis would unfold differently here.

Think about:
Where you would trade (looted grocery stores?)
With whom you would trade,
How you would trade.

There is no model, or assumption of order.


19 posted on 02/21/2011 8:19:04 AM PST by G Larry
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To: G Larry; jiggyboy

You can’t eat it, and in denominations of $1400/oz., you’d find yourself over-paying for groceries.


1. What investment CAN you eat (no one is suggesting you invest before buying groceries or an amply food supply).

2. Have you ever heard of “change?” (Although Junk silver coins are better if one expects to buy groceries after a currency collapse).


20 posted on 02/21/2011 9:38:17 AM PST by Atlas Sneezed ("If you touch my junk, I'm gonna have you arrested.")
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To: G Larry

Where you would trade (looted grocery stores?)
With whom you would trade,
How you would trade.

There is no model, or assumption of order.


We agree that a pocketful of Krugerrands won’t buy groceries at stores where the shelves are empty or zombies are roaming the streets. And they won’t protect you against a meteor strike either.

But they are a useful store of wealth, for many crisis scenarios, and they have ALWAYS been a useful store of wealth for the time after the crisis ends.

You’re trying a little too hard here.


21 posted on 02/21/2011 9:42:19 AM PST by Atlas Sneezed ("If you touch my junk, I'm gonna have you arrested.")
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To: G Larry
With whom you would trade, How you would trade.

Those details don't really matter. The fact is that sooner or later the Arabs and the Chinese aren't going to want our toilet paper anymore. Some third party will come to you and buy your gold. Meanwhile some other party will pay gold to get that oil and big screen TV's. Also if there is a big dump in the gold price, there will also be a big dump in commodity prices, so it's not a bad idea to trade in some gold for toilet paper at some point (although that point is still out of view)

22 posted on 02/21/2011 12:53:47 PM PST by palmer (Cooperating with Obama = helping him extend the depression and implement socialism.)
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To: palmer

Really?

If some 3rd party comes for your gold, they’ll be better armed than you!


23 posted on 02/21/2011 2:28:21 PM PST by G Larry
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