This is a market that is out of control. The Dow up almost 400 points, because Citigroup (C) is up 10%, AIG up over 8%, American Express (AXP) and Bank of (not my) America both up over 7%. There’s been a shift in the continuum here for me, and it’s not because I don’t believe the market should be going up. I’m glad it is, as it should be providing many the opportunity to get out of bad long positions. This article was the last straw for me. I’ve been thinking about writing an article on this Bear Stearns subject, but I didn’t want to seem an alarmist. Well, I no longer feel that way, thanks to this article and I will now write on the subject. But, later. I’m honestly quite angry at the moment. Stay tuned!
5 Comments
April 1st, 2008 at 4:16 pm
http://philadelphia.craigslist.org/pol/626698443.html
April 1st, 2008 at 4:25 pm
Lisa,
Would like to get your thinking on what a few CNBS commentators just stated. They were saying that
the Market is a forward looking discount mechanism.
Accordingly, they said that maybe all the bad news
about writedowns, recession, joblessness etc….
has already been priced into stock prices.
Finally, they said when the Market goes up in the
face of bad news; that could mark the Turn.
Appreciate your thoughts.
Thanks,
Noel
April 1st, 2008 at 4:33 pm
I would be interested in your thoughts on SKF.
Thanks.
April 1st, 2008 at 6:21 pm
Comment from a viewer named Chuck from Florida on Fast Money.
The market went up today because it is Tuesday.
Tuesday 3/11/08 – up 417
Tuesday 3/18/08 – up 420
Tuesday 4/01/08 – up 391
April 2nd, 2008 at 1:28 am
Noel,
I was spared from watching CNBC today, but they’ve been saying the same crap for months about “forward looking discount, blah”. They’ve also said all the crap is priced into the stocks for months….look where that got us. The market has turned to the upside several times on bad news, and quite frankly, people just need to get over looking for the damn turn in the market. It’s not going to new highs, it will go up to technical resistance levels, but it’s going down boys! (I’m not yelling at you, Noel, just at the CNBS guys)
Chris,
We’ll have to get Chuck to post something on SKF, as I don’t trade it. “The market went up today because it is Tuesday.” LOL Thanks for that, Fast Money is getting really sad, they all look confused to me.