WTH is going on with the markets right now?

jdumars

Everyone is acting like mystically everything that was wrong has suddenly been resolved. Oil dropping, Dow up, financial stocks recovering.

What is going on? What has fundamentally changed? Dante? Mr. Bill? paging all experts...
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Tyler_JC

People were expecting earnings to be horrible this quarter. Really, really horrible.

As it turns out they are merely awful.

They are beating expectations (who cares if those expectations were of economic collapse?)

When the Markets realize that the economy is NOT recovering quickly, I expect to see the Dow fall below 10,000. Maybe even by the end of the year.

We aren't out of the woods yet, this is merely a dead cat bounce.

Don't forget that $150 billion in economic stimulus checks have allowed consumers to spend more than they earn in the past quarter. All of that money is gone.

Q3 is going to scary. Evil or Very Mad

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"www.peakoil.com is the Myspace of the Apocalypse."

JJ · Heavy Crude Joined: Aug 07, 2007 Posts: 297

ditto...they were ridiculing me at work yesterday...stock markets up, oils down, blah blah... hows that nostradamus...

joeltrout

Don't let daily, weekly, or even monthly swings in the stock market get you. They trade on news.

This time the news was bad but not as bad as everyone expected therefore it was good.

joeltrout
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ENERGY is the basis of our industrial civilization and sustains our standard of living. It is the foundation stone of our national wealth. A nation starved of energy.....will be a nation of starving people.

jdumars

Tyler_JC

Stocks are up today on a mix of cheaper oil, reasonable earnings numbers, and a semi-decent housing starts figure.

Housing starts were good this month (up 11.6% from last month) but we're 26.9% below last June's level.

Housing Starts #

But the gold market wasn't fooled.

Gold is up another $15 today. We're up more than $100 in the past month alone. Smile

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"www.peakoil.com is the Myspace of the Apocalypse."

eastbay

And do not join up with yea brethren of little faith. Oil is heading upward for all the reasons. It just likes to return now and then to pay brief social visits with old prices along the way.

Nothing can stop the march upward other than a catastrophic economic calamity which isn't scheduled to arrive until later.
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Peepers · Heavy Crude Joined: Jan 01, 2005 Posts: 209

I realize America hasn't been around for a long time, but to judge the future of the republic and the global economy on several days' worth of economic news? What in the world is the attention span of these people? Geez, my cat has a longer attention span....

HEADER_RACK · Heavy Crude Joined: Feb 15, 2007 Posts: 435

DENIAL
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NTBKtrader · Intermediate Crude Joined: Oct 19, 2004 Posts: 591

the sec going after short sellers in financials has also had a large impact i think...Short Sellers

heroineworshipper

It's the dot bank boom. Banks are the next big thing. You gotta get in because it's only a matter of time before banks turn a profit and once they start making money, there's going to be a Google bank.
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Starvid

So when do you think the DOW hits 4000?
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Peak oil is not an energy crisis. It is a liquid fuel crisis.

pstarr

emersonbiggins

HEADER_RACK · Heavy Crude Joined: Feb 15, 2007 Posts: 435