Author Topic: A good post on todays stock market gain. (Read 570 times)

sedetrad · « **on:** October 13, 2008, 03:15:48 PM »

A friend of mine spoke with his broker - years in the business and generally a high-cash-client guy. He said he did NOT TAKE A SINGLE PHONE CALL TODAY. He placed zero trades with the established clients that he has.

He believes this is institutional buying, period. The public is still too scared to "jump in," and is keeping their money in the banks (as if that is any better right now).

Bear markets do not turn on a dime when good news comes. Something actually has to change, and there is more bad news to come in my book. We only realized this problem a month ago, and it has been accuмulating for years. We are at the tip of the iceberg. The Titanic has not managed to turn, although it may appear to be the case to the nearsighted people out there.

http://whatreallyhappened.com/content/dow-still-being-tinkered#comments

sedetrad · « **Reply #1 on:** October 13, 2008, 03:20:16 PM »

Do not forget that nothing has changed in two days. The fundamentals are still as bad today as they were last Monday. The derivatives have yet to explode. We still do not produce anything of value as a country and we still have other economic sectors of the country that are at or near bankruptcy. The thing that did change today is European banks are dumping TRILLIONS of TAX Dollars into the markets. Where did these supposed Tax dollars come from? They did not come from actual taxes. They came from the central banks. The central banks are lending this money to the European Governments at an interest that has to be paid back. That means even more DEBT is created for the world. The point of critical mass will come.

Dawn · « **Reply #2 on:** October 13, 2008, 03:31:38 PM »

Thanks, I just came on to see what others were saying on this malarky. I can not listen to the plastic people on the news gush that all is well. And there is that monopoly money that the Fed floated in today that is backed by nothing, not worth the paper it is printed on and will only serve to de-value the dollar.

sedetrad · « **Reply #3 on:** October 13, 2008, 03:34:34 PM »

Dawn,

You are absolutely correct. The market might be "UP" but the credit freeze is still here. The banks are still not lending. The problems are still here. The MSM talking heads make me want to puke.

sedetrad · « **Reply #4 on:** October 13, 2008, 04:01:33 PM »

I was at the cigar shop this past weekend talking with the usuals and a few students from East Carolina University came in the shop. Several of us started talking with them because we had graduated from ECU. They seemed like happy and hardworking students. They mentioned something very interesting that has far reaching repercussions for the US economy. Their student loans are going to be cut off after the spring semester. They all are going to have to quit school and find and job and go part time. There is nothing wrong with this. I think that it is a good way to put oneself through college. There is a problem with the above scenario because the US JOB MARKET cannot absorb the amount of students that will have to quit school and find a job. There are just not that many jobs out their. Many of these students will then become unemployed due NO fault of their own. This does not bode well for our country. As students can no longer afford college, then colleges and universities will cut back by firing staff such as professors and campus workers which will place a further strain on a depressed job market. Does anyone know where I am going with this?

trent13 · « **Reply #5 on:** October 13, 2008, 05:31:25 PM »

I'd say you were heading down the road towards mass chaos and martial law? I could be wrong I guess...