Holy cow...and now it is all the way back up to +150. Several days now where the market can't make up its mind and, in the course of one day goes up, down, up, down (left right left right b a b a select start). Someone get this market some meds.
This is being orchestrated (as much as this stuff can be orchestrated) by program trading. The small guy who pays commission and can't trade in milliseconds is going to get crushed today.
I'm happy to sit on the sidelines (albeit with long positions) and wait it out.
B.o.A is the killer today, look for a big bounce after Brian M. Makes his statement after the close.
Yeah, that always plays a role...I am pretty much a buy and hold type investor anyway...just a shame that I bought in a little bit right before the huge drop. I figured after the dow was down for 8 days in a row it was a good time...should have waited a few days longer.
What are you talking about with Bank of America (I assume)? I heard my uncle talking about buying (or he maybe already did buy) in. What is going on? I've mainly avoided financials for a while
Is there any chance of good news coming this week or next that will send things up? Ha, seems like we need real good news to go up a little bit....but if someone in Europe stubs their toe it's going down 500
Is there any chance of good news coming this week or next that will send things up? Ha, seems like we need real good news to go up a little bit....but if someone in Europe stubs their toe it's going down 500
Very little chance of the former, big chance of the latter.
In fact, one could argue that the expectation of a European sovereign default is already priced onto the market via today's decline.
It's a bad bad world out there right now. The problem is, where are you going to go? Gold has had such a run it's not unreasonable to think you've missed the party. Bonds, especially long term bonds aren't yielding enough to attract investors. Equities are full of such volatility that they're not much better than Vegas odds.
Is there any chance of good news coming this week or next that will send things up? Ha, seems like we need real good news to go up a little bit....but if someone in Europe stubs their toe it's going down 500
Very little chance of the former, big chance of the latter.
In fact, one could argue that the expectation of a European sovereign default is already priced onto the market via today's decline.
It's a bad bad world out there right now. The problem is, where are you going to go? Gold has had such a run it's not unreasonable to think you've missed the party. Bonds, especially long term bonds aren't yielding enough to attract investors. Equities are full of such volatility that they're not much better than Vegas odds.
It's a bad bad world for investors right now.
That pretty much says it all. All investors on the back streets shopping at risk for bargains.
Is there any chance of good news coming this week or next that will send things up? Ha, seems like we need real good news to go up a little bit....but if someone in Europe stubs their toe it's going down 500
Very little chance of the former, big chance of the latter.
In fact, one could argue that the expectation of a European sovereign default is already priced onto the market via today's decline.
It's a bad bad world out there right now. The problem is, where are you going to go? Gold has had such a run it's not unreasonable to think you've missed the party. Bonds, especially long term bonds aren't yielding enough to attract investors. Equities are full of such volatility that they're not much better than Vegas odds.
It's a bad bad world for investors right now.
I am just wondering how low it will go before it at least levels off (let alone starts going up even small amounts). My strategy for now is solid decent yield dividend companies. If their stock price can at least break even over the longer term - then you are at least collecting 2.5-5% (or whatever your range is on your dividend stocks) return on your money...which beats most options out there. However, if prices go down far enough, cash runs lower over a longer pullback, and dividends get cut - there goes some of your returns.
Unemployment at 4 month low, DJI up 210. Let's see if it can hold those gains or improve.
"The Dow Jones industrial average was up over 200 points Thursday morning after the Labor Department said that only 395,000 people applied for jobless benefits, down from 402,000 last month. The figures gave investors some hope that the economy may not be slowing down as much as has been feared."
I'm curious as to how many of those people have exhausted their benefits.
Yeah, thats what I was getting at. Of those 7,000 how many have exhausted their maximum benefit allowed and simply can't get anything else? I was under the impression that starting in July through January a lot of people would no longer be eligible for un-employment benefits.
Unemployment at 4 month low, DJI up 210. Let's see if it can hold those gains or improve.
"The Dow Jones industrial average was up over 200 points Thursday morning after the Labor Department said that only 395,000 people applied for jobless benefits, down from 402,000 last month. The figures gave investors some hope that the economy may not be slowing down as much as has been feared."
I'm curious as to how many of those people have exhausted their benefits.
I'm pretty sure those are new, first time, applications for benefits.
Unemployment at 4 month low, DJI up 210. Let's see if it can hold those gains or improve.
"The Dow Jones industrial average was up over 200 points Thursday morning after the Labor Department said that only 395,000 people applied for jobless benefits, down from 402,000 last month. The figures gave investors some hope that the economy may not be slowing down as much as has been feared."
I'm curious as to how many of those people have exhausted their benefits.
I'm pretty sure those are new, first time, applications for benefits.
So less people are getting fired. Guess that is somewhat refreshing.
And yes, that number is first time filers. The idea is less about the overall number and more about it being better than what economists thought, and the general trend of the number.
The number of first-time filers for unemployment benefits fell last week, dipping below 400,000 for the first time in four months.
There were 395,000 initial unemployment claims filed in the week ended Aug. 6, the Labor Department said, down 7,000 from an upwardly revised 402,000 the prior week.
The figure beat economists' forecasts for 409,000, according to consensus estimates from Briefing.com.
"It's a good sign," said Brett Ryan, U.S. economist with Deutsche Bank. "The trend in claims is going to be one of the most important things we watch over the next few weeks or so, to gauge whether we're entering another recession."
I can see the trend they are looking at with this metric, but do they also track the total number of people receiving assistance and the total number of people who have reached their assistance limit?
" posts.