To: mrs9x
I still want to know WHY? What fundamentally changed since last week? If anyone can answer this, I'll leave it alone.
To: Wyatt's Torch
I think it is because there are some good buys out there right now, and in addition, the "panic mode" that people were in over the past two weeks is over. Finally, the dollar has become stronger and international investors are moving back into the US over European and Asian stocks.
16 posted on
07/29/2002 7:39:45 AM PDT by
mrs9x
To: Wyatt's Torch
One of two things: either insiders know something good is about to happen, or the Fed is manipulating the market, trying to goose it higher so the institutionals have a chance to cash out before it crashes again.
To: Wyatt's Torch
I will take a stab at it. Most people in the stock market are in there for retirement, either through privately managed IRA's or pensions. A great many are in mutual funds.
Some fund managers had to pull money for nervous nellies who were cashing out. They are gone. Therefore, fund managers are taking cash and selecting stocks that are looking like bargains.
Also, private investors may have pulled money out, but where are they going to put it...in BANKS? Heck, right now I would be worried about having my money in Citibank, plus they pay really low interest.
I would guess a lot of people pulled their money out, looked around, and decided to go back into the market instead.
To: Wyatt's Torch
Pension funds changed asset ratio mix to hold substantialy more stock. IMHO one of the many reasons.
To: Wyatt's Torch
I'll add my $0.02... O'Neil and the administration have been successful in the past several days in conclusively demonstrating that the economic recovery is gaining momentum. Therefore, investors feel more positive about future earnings.
27 posted on
07/29/2002 7:55:45 AM PDT by
mwl1
To: Wyatt's Torch
I still want to know WHY? What fundamentally changed since last week? If anyone can answer this, I'll leave it alone. NINE for NINE....the rescue of the miners...the stoic intense rescue effort as played out on national TV...recognition of God and country as an inspiration.
Markets are sum total of rational (and irrational) perceptions.
The good guys got a big win
To: Wyatt's Torch
Echoing everone else; it's the (at least temporary) disappearance of the fear factor. Absent that, the fundamentals are (or at least appear) to be there for an extended rally back to 10,000/1800/1300; recovering economy, the return of some realistic profits and the shakeout of the high-flyers.
46 posted on
07/29/2002 8:16:00 AM PDT by
steveegg
To: Wyatt's Torch
I'd say it was seeing the Adelphia execs indicted and arrested. That was a biggie in terms of restoring confidence. People seem to feel more confident because they know the crooks will pay the price.
78 posted on
07/29/2002 10:01:49 AM PDT by
hchutch
To: Wyatt's Torch
I still want to know WHY? What fundamentally changed since last week? If anyone can answer this, I'll leave it alone. It really isn't a fundamental, but everyone in DC is getting ready to go on vacation.
Did you ever find a reason for that dollar spike last week? My guess is it was a threat of intervention by the Treasury and the Fed. Probably a few calls placed by Greenspan to some big traders.
To: Wyatt's Torch
WHY?
Because.
My answer is not meant to be nearly as glib as you might conclude.
Its become patently obvious, to me at least, that NO ONE can predict what MIGHT happen short term in a volitile market.
The 90 some-odd posts before this one are speculative guesses and based on varying amounts of wishful thinking, hopes, numbers pulled from someone's nether regions, borrowed opinions, sortas, feelings, hunches and could bes.
When someone can CONSISTENTLY, RELIABLY and with a fair degree of accuracy predict what will happen in the short term in a volitile market, that person will definately NOT be posting to FreeRepublic.com and telling others.
You would easily be able to tell who that person is by one telephone call.
During that phone call, in the background you would clearly hear rolling surf brushing against the beach, the giggling of many young mid-20's something women with firm upturned breasts, the unmistakable jingling of ice in glasses and the clinkling of champagne glasses in toasts.
95 posted on
07/29/2002 10:53:15 AM PDT by
pyx
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