Will the S&P go to 1000 or 1200 ?

[Tsing Tao]

Quote from Tsing Tao:

i said you might be. the top might be a bit higher than your 1050 argument. like 1056/8

and here comes the 1058 line. 1050 is a recent memory!

 

[S2007S]

Keep in mind there wasn't one pullback throughout the entire day, the market has risen straight up since the opening.

 

[krazykarl]

Quote from S2007S:

Keep in mind there wasn't one pullback throughout the entire day, the market has risen straight up since the opening.

Is there a rule somewhere that markets have to have a pullback intraday? I don't understand your point. I've seen days like this for 20 years, and only that long because that's as long as i've been paying attention.

 

[S2007S]

*OIL
82.82 +1.35 +1.66%
*GOLD
1340.40 +25.00 +1.90%


At this rate oil will be over $100 by the end of October and Gold over $1500.

 

[shortie]

Quote from krazykarl:

Is there a rule somewhere that markets have to have a pullback intraday? I don't understand your point. I've seen days like this for 20 years, and only that long because that's as long as i've been paying attention.

so you don't have the short attention span syndrome then...

Jack "Shortie" Kevorkian Out

 

[Tsing Tao]

Quote from Tsing Tao:

and here comes the 1058 line. 1050 is a recent memory!

that's gone too. 1200 is next.

 

[piezoe]

Nice consistent picture so far. National election coming up, dollar falling, market rising, commodities rising. Exactly what I expected (one of the rare times). There will be plenty of time for a crappy do nothing market after the election.

 

[Tsing Tao]

agree, but the one bad thing is crude which broke resistance. theres a whole month for gas prices to start going up and we all know how the media loves the high gas price story.

 

[piezoe]

Quote from Tsing Tao:

agree, but the one bad thing is crude which broke resistance. theres a whole month for gas prices to start going up and we all know how the media loves the high gas price story.

Just a guess of course, but I doubt we see much effect of higher crude prices at the gas pump until after the election. There is a little lag, and we only have about 4 weeks to go until November 2nd, election day.

 

[piezoe]

Quote from S2007S:

How many are still cheering on a cheaper dollar?


Nothing like a worthless dollar and more currency wars!!!


Commodities are going to go through the damn roof, oil is already above $82 as gold continues to make new highs as well. Anyone cheering a cheaper dollar is a fool.

If you look at Fed and Treasury policy and the huge deficits both in the previous and the current administration coupled with a deep recession you really have to expect a weaker dollar. That's one of the reasons we loaded up on commodities: we knew there would be a weaker dollar and inflation at some point down the road, maybe far down the road, but eventually it is as certain as anything can be. I chuckle when I think of all those folks posting post after post absolutely convinced that we were headed for a disastrous deflation, just because there is 20% unemployment. If we were still on the gold standard maybe. But we're not.