DOW up 497 today!!

MJC///M3 · 03-23-2009, 03:17 PM

what a day!

Jared@ACGsandiego · 03-23-2009, 03:20 PM

indeed! i made some money today

UCSBMW · 03-23-2009, 03:22 PM

this "toxic clean up" program and positive housing reports is definitely good news...but i'm a bull so...

MJC///M3 · 03-23-2009, 03:24 PM

Quote:

Originally Posted by Jared@ACGsandiego

indeed! i made some money today

dillon733 · 03-23-2009, 03:34 PM

its definately a step in the right direction

radix · 03-23-2009, 03:38 PM

...and the Dow shot up 497 points on the news that mpimping created an embedded video thread.

mpimping · 03-23-2009, 03:43 PM

I say buy until the market starts to change

bmr760 · 03-23-2009, 03:46 PM

Quote:

Originally Posted by anmcguire

...and the Dow shot up 497 points on the news that mpimping created an embedded video thread.

lulz

mpimping · 03-23-2009, 03:50 PM

Quote:

Originally Posted by Ryouken

lulz

a gem

mid-corner fun · 03-23-2009, 03:50 PM

about time

jeremyc74 · 03-23-2009, 03:51 PM

Anyone else think this is a lot of false hope?

I don't see where anything has fundamentally changed. The uptick in the housing market is very unlikely to be the start of a trend IMO. There are a ton of people out of work which will contribute to the already huge number of foreclosures, and a lot of people who are working aren't confident enough about their job security to take on a large amount of debt, even though there are some obvious bargins to be had right now.

I'll be very surprised if we see any sort of sustained upward movement until the unemployment numbers are trending back in the right direction.

mpimping · 03-23-2009, 04:01 PM

Quote:

Originally Posted by jeremyc74

Anyone else think this is a lot of false hope?

I don't see where anything has fundamentally changed. The uptick in the housing market is very unlikely to be the start of a trend IMO. There are a ton of people out of work which will contribute to the already huge number of foreclosures, and a lot of people who are working aren't confident enough about their job security to take on a large amount of debt, even though there are some obvious bargins to be had right now.

I'll be very surprised if we see any sort of sustained upward movement until the unemployment numbers are trending back in the right direction.

huh? buy this http://en.wikipedia.org/wiki/Hulu

jeremyc74 · 03-23-2009, 04:03 PM

Quote:

Originally Posted by mpimping

huh? buy this http://en.wikipedia.org/wiki/Hulu

One stock? That's not exactly the driving force behind a 500 point rally.

mpimping · 03-23-2009, 04:05 PM

Quote:

Originally Posted by jeremyc74

One stock? That's not exactly the driving force behind a 500 point rally.

stocks are supposed to be undervalued

Tondtar · 03-23-2009, 04:09 PM

Quote:

Originally Posted by anmcguire

...and the Dow shot up 497 points on the news that mpimping created an embedded video thread.

Quote:

Originally Posted by PeterM1

about time

Don't worry guys ...It will be down -700 tomorrow

Jared@ACGsandiego · 03-23-2009, 04:37 PM

haha yeah my question exactly. what are your thoughts on it staying up tomorrow?

Blake · 03-23-2009, 04:39 PM

dead cat bounce

MJC///M3 · 03-23-2009, 05:21 PM

again...these moonshots are usually by "word of mouth" which we saw today. If you look closely at some of the terms of the public-private deal to purchase appx 1 trillion of these toxic assets, its not all that much different from what paulson outlined a few months ago. I guess a few people missed that....the main problem going forward: what "private investors" are willing to bid for these assets and what the banks are willing to sell them at. Again its not really fundamentally solving the problem; people are still broke, have seen net worths diminish completely, until job growth resumes people will have limited discretionary income; and in a lot of cases trouble paying off mortgages and other debt obligations.

Jared@ACGsandiego · 03-23-2009, 05:42 PM

MJC///M3 are you into day trading?

boymonkey · 03-23-2009, 06:38 PM

Quote:

Originally Posted by jeremyc74

Anyone else think this is a lot of false hope?

I don't see where anything has fundamentally changed. The uptick in the housing market is very unlikely to be the start of a trend IMO. There are a ton of people out of work which will contribute to the already huge number of foreclosures, and a lot of people who are working aren't confident enough about their job security to take on a large amount of debt, even though there are some obvious bargins to be had right now.

I'll be very surprised if we see any sort of sustained upward movement until the unemployment numbers are trending back in the right direction.

Hope is all that's needed in this paper economy. The value is in the perception.

radix · 03-23-2009, 06:41 PM

Quote:

Originally Posted by boymonkey

Hope is all that's needed in this paper economy. The value is in the perception.

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MJC///M3 · 03-23-2009, 07:48 PM

Quote:

Originally Posted by Jared@ACGsandiego

MJC///M3 are you into day trading?

im obsessed with stocks bro....hahhaha....this stuff is what I live for...

I trade my own funds....I work in fixed income risk for an investment management firm....deal with derivatives (swaps, exotics, options...etc)

how bout you?

03-23-2009, 03:17 PM	#1
MJC///M3 Colonel 87 Rep 2,324 Posts Drives: 09 SSII E92 M3 Join Date: Aug 2008 Location: Bronx, NYC iTrader: (0)	DOW up 497 today!! what a day! __________________ "You will get there, but it is up to you and you alone. It is what you are willing to do, and how you are willing to get there. You must be relentless, you must be tireless, you must pursue at all costs, so that you are ready, when the time is right." -Dad
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03-23-2009, 03:20 PM	#2
Jared@ACGsandiego Private First Class 7 Rep 180 Posts Drives: BMW Join Date: Feb 2009 Location: San Diego iTrader: (1)	indeed! i made some money today
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03-23-2009, 03:22 PM	#3
UCSBMW Captain 68 Rep 655 Posts Drives: G05 Join Date: Sep 2005 Location: OC iTrader: (1)	this "toxic clean up" program and positive housing reports is definitely good news...but i'm a bull so... __________________ Ex's: E46 325i, E90 330i, E92 335i, E60 550i, E46 M3, F30 335i, m235i, G30 540i Current: G05
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03-23-2009, 03:34 PM	#5
dillon733 Major 96 Rep 1,196 Posts Drives: Jet Black e92 M3 Join Date: Oct 2007 Location: new york iTrader: (3)	its definately a step in the right direction
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03-23-2009, 03:38 PM	#6
radix you know he kills little girls like you 388 Rep 892 Posts Drives: - Join Date: Feb 2008 Location: - iTrader: (0)	...and the Dow shot up 497 points on the news that mpimping created an embedded video thread.
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03-23-2009, 03:43 PM	#7
mpimping Banned 821 Rep 336 Posts Drives: gti Join Date: Sep 2006 Location: ny,ny iTrader: (0)	I say buy until the market starts to change
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03-23-2009, 03:50 PM	#10
mid-corner fun Lieutenant Colonel 81 Rep 1,510 Posts Drives: F80 M3, '22 X3MC Join Date: Jun 2005 Location: NJ iTrader: (5)	about time
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03-23-2009, 03:51 PM	#11
jeremyc74 Banned 76 Rep 5,970 Posts Drives: '08 135i Montego/Terra Join Date: Feb 2008 Location: Evansville, IN iTrader: (0)	Anyone else think this is a lot of false hope? I don't see where anything has fundamentally changed. The uptick in the housing market is very unlikely to be the start of a trend IMO. There are a ton of people out of work which will contribute to the already huge number of foreclosures, and a lot of people who are working aren't confident enough about their job security to take on a large amount of debt, even though there are some obvious bargins to be had right now. I'll be very surprised if we see any sort of sustained upward movement until the unemployment numbers are trending back in the right direction.
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03-23-2009, 04:37 PM	#16
Jared@ACGsandiego Private First Class 7 Rep 180 Posts Drives: BMW Join Date: Feb 2009 Location: San Diego iTrader: (1)	haha yeah my question exactly. what are your thoughts on it staying up tomorrow?
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03-23-2009, 04:39 PM	#17
Blake Banned 754 Rep 4,649 Posts Drives: Chevy Aveo Join Date: May 2008 Location: Parent's Basement iTrader: (7)	dead cat bounce
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03-23-2009, 05:21 PM	#18
MJC///M3 Colonel 87 Rep 2,324 Posts Drives: 09 SSII E92 M3 Join Date: Aug 2008 Location: Bronx, NYC iTrader: (0)	again...these moonshots are usually by "word of mouth" which we saw today. If you look closely at some of the terms of the public-private deal to purchase appx 1 trillion of these toxic assets, its not all that much different from what paulson outlined a few months ago. I guess a few people missed that....the main problem going forward: what "private investors" are willing to bid for these assets and what the banks are willing to sell them at. Again its not really fundamentally solving the problem; people are still broke, have seen net worths diminish completely, until job growth resumes people will have limited discretionary income; and in a lot of cases trouble paying off mortgages and other debt obligations. __________________ "You will get there, but it is up to you and you alone. It is what you are willing to do, and how you are willing to get there. You must be relentless, you must be tireless, you must pursue at all costs, so that you are ready, when the time is right." -Dad
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03-23-2009, 05:42 PM	#19
Jared@ACGsandiego Private First Class 7 Rep 180 Posts Drives: BMW Join Date: Feb 2009 Location: San Diego iTrader: (1)	MJC///M3 are you into day trading?
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