scheming daemons
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Thu Nov-13-08 09:35 PM
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Don't get used to today's Dow bounce.... |
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Dow futures for tomorrow are down more than 300. http://www.cnbc.com/id/17689937/
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RoyGBiv
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Thu Nov-13-08 09:38 PM
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I cannot for the life of me figure out what generated that bounce.
I'm not a market guru by any stretch of the imagination, but I can generally tell you by noon whether it will be up or down overall. I didn't see this coming. And I still don't know what caused it.
I haven't read any economy blogs/news tonight. Brain hurts too much to deal with it, but I'm just curious if anyone knows what the stimulus there was or if it was just a programmed bargain hunting spree.
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CK_John
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Thu Nov-13-08 09:44 PM
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RoyGBiv
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Thu Nov-13-08 09:46 PM
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4. They outdid themselves ... |
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But, you're probably right.
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DJ13
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Thu Nov-13-08 09:52 PM
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If you overlaid the Dow with the oil on NYMEX today they both show the exact same pattern, initiated simultaneously.
That requires deep pockets that are probably too deep for the timid investment brokers.
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Davis_X_Machina
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Thu Nov-13-08 10:49 PM
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13. How many oil companies in the DJIA? |
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And how much did crude go up by?
PPT my ass -- simple arithmetic.
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SlowDownFast
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Thu Nov-13-08 10:42 PM
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12. Program trading and short covering. |
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Edited on Thu Nov-13-08 10:51 PM by utopiansecretagent
We were breaching the Oct 27th low (support), then program trading kicked in (buying) and investors who were short the market starting shitting their pants and running for the door.
It presents/presented another excellent opportunity to get short again (cheap puts). ;-)
edit: looks like futures are down quite a bit right now (Dow -88)
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itsrobert
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Thu Nov-13-08 09:42 PM
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2. Looks like they are down 85 |
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Is there another bounce going on in the futures?
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itsrobert
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Thu Nov-13-08 09:46 PM
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5. Now down 77; looks like a futures bounce |
itsrobert
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Thu Nov-13-08 10:22 PM
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10. Now down 70; Looks like the OP premise is full of hot air |
ben_meyers
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Thu Nov-13-08 09:50 PM
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6. Nobody who follows closely is getting used to a bounce |
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Keeping in mind that the DOW is made up of only 30 stocks, a few outperforming can influence dramatically. Bargain hunters, and boy are there some bargains, and energy stocks led the market higher because of a minor recovery in oil prices. OPEC is threatening to cut production again. Chevron and Exxon Mobil gave the Dow its biggest lift and oil rose over 5 percent above $59 a barrel.
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Snarkoleptic
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Thu Nov-13-08 10:19 PM
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8. Looks like a "dead cat bounce". |
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Anything that falls as quickly as this market has DCB potential.
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SlowDownFast
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Thu Nov-13-08 10:52 PM
Response to Reply #8 |
14. Looks like a "dead cat bounce" |
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Most assuredly.
Could last a few days/weeks, though...
'till the next shoe drops.
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Uben
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Thu Nov-13-08 10:21 PM
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9. It will likely be up and down for some time to come |
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...at least that's what analyst say.
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Imperialism Inc.
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Thu Nov-13-08 10:31 PM
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11. It will go back down. It has been doing something similar every time |
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Edited on Thu Nov-13-08 10:38 PM by WakingLife
it gets to about 8000. Since it is the third time it seems to be what is called the support level. The price that everyone thinks is too low and generates buying. Big bounces are not uncommon when the support is confirmed. It of course can end up going lower eventually. If it does look out below. It wasn't just the 30 Dow stocks it happened more or less across the board.
If even half of the times people say the market is being manipulated are true then somewhere there is a group of people with more hidden money than the net worth of the entire planet. What is astounding to me is why do they only jump in when it reaches 8000? I mean, they obviously have trillions in spare cash to throw away. Why not drive it up for a whole week instead of only when it reaches 8000. If they did that it probably would drive the index up for a while or at least make the lows higher than 8000. In other words the notion that it is manipulation is just kooky and nonsensical. The first bad drop was to around 8000 and a lot of people think that might be the bottom for a while.
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Fri Apr 26th 2024, 10:10 AM
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