Is this really happening

<b>Hydro</b>, I believe we will see the day when America is no longer the second or even third largest Superpower nation. Our USD will likewise be a second or third-rate currency, too.

Corporate earnings and stock growth mean absolutely nothing if the consumers' negative cashflow jams the hamster wheel. The fact that Exxon makes record profits is not a benefit to this country... at all.

Our national (and individual) debt cycle cannot be sustained forever, and we're young enough to see a downside economy worse than ever experienced before.

*

Meanwhile, there is no telling how far or high stock markets will go until then. Keep trading the pull backs until that ceases to work. Stay on the bullish side until weekly charts begin breaking support. If we all do that one day at a time, nothing else is relevant to our trading profession results.
 
Quote from Rearden Metal:

Just to put the rally into perspective- The late '90's were far more extreme than this:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1244923>
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Even by your own charts, that is not true. Look at the volume chart at the bottom of your graphic and compare the two time periods.

Let me put it another way. In 1998, LTCM lost $3B in two weeks and the heads of the FEDs and the heads of major WS firms were called in to an emergency meeting to save the markets from imploding. Today, we have Amaranth lose twice that much in approximately the same amount of time and no one even notices.

The world is drenched in liquidity. But hey, there is no inflation according to the FED.

nitro
 
I would have to echo the same sentiments as other posters, i.e. I've never seen price action like this and I believe that someone is buying this market upbefore the elections.:eek:

Guess we'll find out starting November 8th....
 
A selloff on Nov 8th would be to obvious. What would be more like wall street would be a huge rally, followed by some light selling then a flood of selling. Yea thats it, mark me down for that scenario.
 
I dont see a selloff on November 8th, again like mini trading said it would be to obvious.

I think we see a heavy selloff mid november. I think if the Democrats take both the house and senate expect a 3-5% drop....

All the talking heads are just too positive, 3 months ago 75% of them had no understanding of a dow 12,000. Now all of them are talking about DOW 13,000 as if they think this rally will continue.
 
The fed keeps screaming about the housing market, yet there is zero sign of any distress from the financial system. It could still be coming. The cb's lost control of the whole system the last couple of years and now they are so scared to touch it because they know it will blow up. Its going to blow up anyway. There is too much leverage and debt. They should have never have let the global economy get this fired up.
 
Quote from JamesVU2000:

The fed keeps screaming about the housing market, yet there is zero sign of any distress from the financial system. It could still be coming. The cb's lost control of the whole system the last couple of years and now they are so scared to touch it because they know it will blow up. Its going to blow up anyway. There is too much leverage and debt. They should have never have let the global economy get this fired up.
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I think we are going to see plenty of distress on the capital markets but it will be in the 1st quarter of next year as ARM's reset.
 
Quote from Restricted:

I think we are going to see plenty of distress on the capital markets but it will be in the 1st quarter of next year as ARM's reset.
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As I keep saying when $1,000,000,000,000 worth of ARMS do reset in 2007 there will be plenty of problems especially when most realize they cannot use their houses as ATM machines anymore......where will be people borrow from when the savings rate in America is -1.5%%%%%%%%
 
Quote from S2007S:

As I keep saying when $1,000,000,000,000 worth of ARMS do reset in 2007 there will be plenty of problems especially when most realize they cannot use their houses as ATM machines anymore......where will be people borrow from when the savings rate in America is -1.5%%%%%%%%
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they are reset

Quote from S2007S:

California foreclosures hit 4-year high
By JENNIFER HUFFMAN
Register Business Writer
Wednesday, October 25, 2006 7:22 AM PDT
..
“These days long-term 10-year interest- only products are very popular,” said Pedroza-Ramos. “They secure the rate over the 30-year term with no prepayment penalties on the loan, giving the client the option of the interest only payment for the long term.”

...”
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