OT - Dow plunges 1,175 - worst point decline in history

[Tony T]

NASDAQ Record high - 9,925 (10k in its sights)
DOW up 460, 6th straight up day.

[Llewellyn]

The current rally, over here at least, is driven by liquidity rather than economic fundamentals. IMO it can't last but who knows when the music will stop.

[Tony T]

I find it unbelievable that in the middle of a pandemic that the NASDAQ will (probably) pass 10,000 this week.

I can’t help but think that this a a massive short covering rally.

[kppolich]

Somehow, the Pandemic is over and people gathering in the streets and being hailed/supported by the media put an end to that whole deal 2 weeks ago.

With reopening in full swing, and everywhere you look pandemic talk has evaporated and been replaced with a new priority. Unbelievable when compared to a month ago, but that's the world we live in.

Liquidity moving things today as we get over the hump, but i'd expect some widespread profit taking next week now that we are back in the black to lock in some gains for the year and help advertise "we made you money during the year 2020".

[notsew]

Originally Posted by Llewellyn

The current rally, over here at least, is driven by liquidity rather than economic fundamentals. IMO it can't last but who knows when the music will stop.

True words.

It's anyone's guess when the party stops, but here in the USofA as long as we're buying junk bonds and printing money for bankers to get rich off, its hard to see precisely where the crunch comes in. Is it the moment the Fed whispers a word about sluffing some off their buying? How big can the fed balance sheet get?

Maybe Nov 4th is when they call it a day? Lots of money out there...

[mg2ride]

I'm as optimistic about the market as they come, however I sold/moved about 25% of my total today in both my Retirement and Fun money accounts. I'm selling more of the fun money tomorrow.

This pandemic has proved VERY profitable to me at the moment.

All I can offer to do right by my gains is to spend it, and I will.

[buddybikes]

Originally Posted by mg2ride

I'm as optimistic about the market as they come, however I sold/moved about 25% of my total today in both my Retirement and Fun money accounts. I'm selling more of the fun money tomorrow.

This pandemic has proved VERY profitable to me at the moment.

All I can offer to do right by my gains is to spend it, and I will.

Congrats. I sold most mine last month so missed the big uptick. Sitting on sideline for good while, need money to retire in next few years.

[Mr. Pink]

This is a total nuts story from this crazy stock market right now.

$10,000 invested in Hertz the day after it filed for bankruptcy is now worth about $125,000.

https://finance.yahoo.com/news/retai...224217982.html

[oldpotatoe]

Originally Posted by kppolich

Somehow, the Pandemic is over and people gathering in the streets and being hailed/supported by the media put an end to that whole deal 2 weeks ago.

With reopening in full swing, and everywhere you look pandemic talk has evaporated and been replaced with a new priority. Unbelievable when compared to a month ago, but that's the world we live in.

Liquidity moving things today as we get over the hump, but i'd expect some widespread profit taking next week now that we are back in the black to lock in some gains for the year and help advertise "we made you money during the year 2020".

hmmmm

California, Utah, Arizona, North Carolina, Florida, Arkansas and Texas, among others, have all logged rises in confirmed cases, according to a Johns Hopkins tabulation of a five-day moving average.

[verticaldoug]

[verticaldoug]

Originally Posted by notsew

True words.

It's anyone's guess when the party stops, but here in the USofA as long as we're buying junk bonds and printing money for bankers to get rich off, its hard to see precisely where the crunch comes in. Is it the moment the Fed whispers a word about sluffing some off their buying? How big can the fed balance sheet get?

Maybe Nov 4th is when they call it a day? Lots of money out there...

This is actually the bread crumbs that fall off the real money. This is near cash.
The FED asset balance sheet has ballooned 4+ trillion dollars in 13 weeks which has propped up asset prices. The 1 tr M1 increase is just for a deck chair for the rest of us on the titanic.

[oldpotatoe]

Originally Posted by mg2ride

I'm as optimistic about the market as they come, however I sold/moved about 25% of my total today in both my Retirement and Fun money accounts. I'm selling more of the fun money tomorrow.

This pandemic has proved VERY profitable to me at the moment.

All I can offer to do right by my gains is to spend it, and I will.

I moved(well my money guy did) about 75% of my rather small investment total(don't rely on it at all) to more secure, less risky things..things that 'can't go below zero'..lose more than the initial investment..this whole gig ain't over yet..regardless of what some 'experts' or government talking heads say...

It's gonna stay ugly then get REALLY ugly about November 5th or 6th...

[C40_guy]

Originally Posted by Mr. Pink

This is a total nuts story from this crazy stock market right now.

$10,000 invested in Hertz the day after it filed for bankruptcy is now worth about $125,000.

https://finance.yahoo.com/news/retai...224217982.html

While I find that hard to believe... the stock history shows that this is indeed correct!

[seanile]

Originally Posted by oldpotatoe

It's gonna stay ugly then get REALLY ugly about November 5th or 6th...

we all thought that the last time too. how can all you guys be so confident that it's gonna get worse??

[pjm]

Originally Posted by seanile

we all thought that the last time too. How can all you guys be so confident that it's gonna get worse??

tds