Market WrapUp (Friday 02-28-03

Financial Sense Online ^ | 2/28/03 | Mike Hartman

[steveegg]

On the way home from work yesterday, I heard voices coming from the radio that said the market was going up at least 30% after we know what is going on with Iraq. This was supposedly based on general Wall Street consensus.

Damn, I needed that laugh. Was that "'Real'Money with Jim Cremer?. There is no way the market's going up 30%, or 20% or even 10% this year. It would take the perfect scenario to get it to go up 5%, and I just don't see that happening.

[arete]

Puplava issued a challenge.

Since you don't even know who said what (Mike Hartman wrote tonights article), I can understand why you are having a problem with your research.

Richard W.

[arete]

I took Puplava's challenge a few days back

Just noticed that you were referencing a previous Puplava article. I apologize for my previous slam and for assuming that you were talking about tonights article. I suggest that you try e-mailing Puplava personally and question him regarding his sources.

Richard W.

[Always Right]

Puplava issued a challenge. I assumed there was something substantial behind it (beyond a few thousand speculative anecdotes, many of which had their roots in a common report from the same precious metals trader) to be found. Why should I accept on faith the rumors of a few gold bugs?

It seems that behind every doom and gloom report is a gold bug. I have been holding my breath for a 5000 DOW for about a year now. Seems like none of the doom and gloom pans out. Not that the economy is rosey, but this daily doom and gloom crap is getting old. Real old.

[headsonpikes]

RE: 'masking their trading activity'

The intervention via MMI futures on Black Tuesday in Oct. '87 demonstrated that not a lot of actual money is necessary to 'turn' the market.

'Someone' jammed the MMI futures up which made it profitable for arbs to short the MMI, and buy the DJI bundle of stocks the MMI represented. Leverage is such that only about $15 Million was required to light the match and save the market that day.

I think that that was probably a wise thing to do. Daily diddling, however, would be a suspect activity, imo.

[EVO X]

Damn, I needed that laugh. Was that "'Real'Money with Jim Cremer?. There is no way the market's going up 30%, or 20% or even 10% this year. It would take the perfect scenario to get it to go up 5%, and I just don't see that happening.

It was Roe Conn and Garry Meier babbling with their news guy Jim Johnson on WLS in Chicago.

[steveegg]

It was Roe Conn and Garry Meier babbling with their news guy Jim Johnson on WLS in Chicago.

Ah, the jokers after Rush. They're REAL reputable, almost as reputable as Garry's old partner Steve Duhl. </sarcasm>

Seriously, I can only stand about the hour between the end of Rush's show (too far away to get Kevin Matthews in one ear and Rush in the other) and the start of Mark Belling's show (WISN, 1130).

[EVO X]

It seems that behind every doom and gloom report is a gold bug. I have been holding my breath for a 5000 DOW for about a year now. Seems like none of the doom and gloom pans out. Not that the economy is rosey, but this daily doom and gloom crap is getting old. Real old.

Or a bond guy :~)

I don't like doom and gloom either. But it does balance out the perma bulls..

[EVO X]

Seriously, I can only stand about the hour between the end of Rush's show (too far away to get Kevin Matthews in one ear and Rush in the other) and the start of Mark Belling's show (WISN, 1130).

Never heard of Kevin Mathews or Mark Belling. I am too far south to pick up any Milwaukee radio stations..

[razorback-bert]

but one thing about gold and finding information on it has led me to disdain is I've ended up in so many "John Birch" meetings it was enough to make me puke.

Too many end up with a rant on fiat money, governments are not going to give up control of money, so to me these 50 page rants are useless.

I prefer to live in a capitalist society, not a socialist looters paradise as we had during gov clinton. If you want to know what really happened to our ecomony in those years, read the history of the Arkansas Development Corporation.