Holy crap! Stocks are skyrocketing!

[Fritzo]

I've made more on stocks in the last two days (on paper at least) than I did at work. It seems everyone's posting good news finally and there's a big rally going on. Hell, I even sold GM when it was 4.10, then rebought at 2.22...it's back up to 2.93 already.

Some of my other favorites: Akamai, Sun Micro, and Suntech, are going through the roof too. Tech stocks surging is a good sign that money is being spent again.

What do you think? Light at the end of the tunnel?

 

[gorcorps]

Who knows... if it effects everybody then maybe people will stop freaking out and go back to normal, which would REALLY help the economy.

 

[DeadByDawn]

Has the market bottomed yet?

Not sure. But I don't think we've seen the worst part of this recession yet.

Bear market rally in my opinion.

 

[looker001]

Everyone poisting good news? The reason stocks are going up because we are having bargain shopping. Unemployment rate is going up, more people are losing jobs by the day.

 

[looker001]

from yahoo finance "Wall Street opened higher Friday, as investors looked past another bleak jobs report and hung their hopes on an economic stimulus plan getting approved" Investors are hopping that bailout will save everyone.

 

[xanis]

I don't know, but my fund on the ATOT stock game is doing pretty well.

 

[Pepsei]

i've lost 15k on paper already... hopefully this year is better.

 

[SunnyD]

it'll fall again as people start to sell off their gains.

 

[DisgruntledVirus]

Originally posted by: Pepsei
i've lost 15k on paper already... hopefully this year is better.

Yeah I've lost a chunk on paper, so I'm right there with ya.

 

[mundane]

Originally posted by: DeadByDawn
Has the market bottomed yet?

Not sure. But I don't think we've seen the worst part of this recession yet.

Bear market rally in my opinion.

That's my uninformed opinion as well, for what it's worth.

 

[VinylxScratches]

It's just another gains run.

 

[dmw16]

I made some money on nVidia over the past few weeks. Sold it yesterday, hope it comes down a little bit so I can rebuy in the $8-range.

 

[ultimatebob]

Google the team "Dead Cat Bounce"... the Wikipedia explanation of it is the best one I've seen.

 

[darkxshade]

It's up but I wouldn't call it skyrocketing

 

[dman]

From my limited education in economics, the stockmarket and economy are greatly influenced by the mass-mentality. Until folks start feeling like they're making money again, spending is going to be tight. Thus, IMO, we haven't reached bottom, just holding it off with talk and more bailout plans.

I'll state that I have not invested more into the market lately because I assume it'll go down further. Historically I'm more often wrong than right, when it comes to stocks, it's my hope that publicizing my strategy will once again prove me wrong and save our economy. :laugh:

Clearly I haven't a clue and I hope we've begun our recovery.

 

[Miramonti]

Originally posted by: dman
Historically I'm more often wrong than right, when it comes to stocks, it's my hope that publicizing my strategy will once again prove me wrong and save our economy. :laugh:

Haha, I resemble that remark, lol. That said...I would use any euphoria in the market that's due to the bailout package as an opportunity to short.

Yet going back to the original thought, if I actually put my money where my mouth is and short any very strong rallies in the near future, I should have the dow back up to 12-13k in no time at all.

 

[Oyeve]

Stocks mean shit for the millions of unemployed people. Its not like rising staocks are creating jobs and stopping layoff. Just a bunch of rich old bastards making more $$$.

 

[Fritzo]

Originally posted by: looker001
Everyone poisting good news? The reason stocks are going up because we are having bargain shopping. Unemployment rate is going up, more people are losing jobs by the day.

Everyone if my stocks is going up is what I meant. Akamai is striking new deals, Sun Micro announced they're getting into cloud computing, GM actually had a sales increase last month in China, and Suntech was able to write off a big solar panel inventory due to new orders.

A couple of other holdings like Auxilium are developing a drug to fix curved weiners (I'm not kidding), and they're progressing nicely. Food producers are raking in the profits from keeping their prices high while enjoying lower transportation costs.

If you stay away from companies that depend on financing, there's actually some good news out there.

 

[Slew Foot]

Some good news but the broad market movements upwards over the last few months havent been due to large economic good news, but rather more fed/govt bailouts. If you look carefully at the big market gains over the last few months, youll find they always coincide with news of a bailout of fed rates lowering.

 

[edro]

BUY BUY BUY!!!

Oh wait....

SELL SELL SELL!!!

 

[miketheidiot]

there has been quite a bit of better than expected reports this week

 

[senseamp]

Stocks are up because markets are anticipating that the high unemployment numbers will increase the likelihood of big stimulus being passed.

 

[Fritzo]

Originally posted by: senseamp
Stocks are up because markets are anticipating that the high unemployment numbers will increase the likelihood of big stimulus being passed.

If you stay away from companies that depend on financing, there's actually some good news out there.

Pharmaceuticals and food. These industries are not affected by any stimulus or bailout monies. They're your safest bets.

 

[MegaVovaN]

Day trading is FTL in the end...stick with mutual funds and check them once a year.

 

[Miramonti]

I wouldn't look for continued expansion by GM in china, their unemployment is escalating faster there than here.