I think you fade this rally. The only news to come out today was very negative: consumer confidence came in at 38%, vs. the expected 52%. This was a record low. The Case-Schiller home price index dropped by a record amount as well. Other indicators looked bad as well: the CDX (an index of the credit quality of investment-grade companies, as measured by the price of their credit default swaps) was roughly unchanged, 10yr notes were only a little bit lower, the yield on 2yr notes is still a ridiculously low 1.6%, the primary mortgage rate remains well over 7%, etc.<p>So the question is, what good news drove this rally? I can't think of any. I think you sell stocks here.<p>The biggest risk is the Fed meeting tomorrow. The market is expecting a 50 basis point cut in the Fed Funds target rate (currently at 1.5%). If the Fed only goes 25bp, there will be a huge selloff. If the Fed goes 75bp, there's a moderate rally. 50bp, I think we see a moderate selloff.
What's up with the tech crowd and the negativity? The market is fine, people with big money are just restructuring their investments because of some change that is coming up - those people with access to market surveys and analysts see something we don't.<p>Where do you think the cash from the crash went? You think Trump stuffed it in his matrass? It's all there somewhere, and they will put it back in the market - the question is just about where the money will be invested in.<p>Wake up sheeple :)
Uh, yeah, we noticed. Not really interesting, though.<p>Those of us with a firm grasp of technology have figured out how to obtain this information without it being posted here. And discussing it after the fact is just hand waving and making up stories to tell ourselves. If you can call movements like that beforehand with any degree of accuracy, feel free to post, but otherwise, I hope we don't see a string of "dow up blah blah, dow down blah blah, nikei up blah blah", and so on and so forth.
This isn't a bottom and a reversal, this is a bear rally. Tomorrow the fed will be dropping interest rates 0.5% and we may see a slight rise or stagnation. Thursday the government will be releasing some quarterly reports, which will probably show just how bad things are getting and the market will eat crap again (-4/500).<p>Prepare to hit the 7000's in the coming weeks as no one buys squat for xmas. Sorry little Timmy, due to fiscal irresponsibility there's no Christmas this year.