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From March '09 bottom
Dow - up 90% ...13% from all time peak
S&P 500 - up 99% ...15% from all time peak
Nasdaq - up 121% ...44% from all time peak
Russell 2000 - up 133% ...4% from all time peak
A Wanger appearance of why this makes sense would be great now.
The market is a reflection of the wealth of the top 10% of the nation (world?). Since the essential element required for the existence of great wealth is great poverty...it almost makes perfect sense that the market would continue to rise along with unemployment, food stamps and foreclosures. the poorer the bottom 90% get, the richer the top 10% get. money is never lost, merely transferred. In this case...it's being transferred from the bottom 90% to the top 10%...in other words: business as usual.
This post was sponsored by The Glenlivet. Fine Single Malt Scotch....Accept no substitutes.
I prefer Glenmorangie - Nectar D'Or
None of that twelve years aged-in-the-wood chichi for me. Brand ? You know what brand -- the cheap stuff !
Famous Grouse.....the national drink of scotland.....the single malt shit is for rich furiners. Cheap and high quality.....well.....high enough.
Long live free markets! Or something...
The reality of extrapolation...
Male Doctor: How often do you have sex?
Male Patient: Once, I almost had sex twice in one day.
Male Doctor: So about 730 times per year?
Male Patient: That must be about right.
the REALity of sextrapulation:
2 over-the-hill niggaz wer trying to have a child, but nothing semed 2 work. so, they decided to go see their doc-tors. later, thet evening, when they were home, together, they discussed their visits and examinations.
sapphire sez: my doc-tor aksd me what my flo wuz like, an i sed, "Why, linoleum."
the kingfisher sez: i aksd my doc-tor if dey wuz any problem wit me, and he told me i wuz impotant!
yo! otis! m' man! YouTube - Doug Clark & the Hot Nuts "Baby Let Me Bang Your Box Pt. 1"
Each day these fake markets go higher based on utter and complete bullshit, I buy more 1x100's silver. I have no plans to buy ANYTHING else. Reduce reuse recycle.
i'm with you there. took the last of my money out of the market today and gonna buy some silver bars this weekend.
this is now officially terrifying. Zimbabwe here we come.
I'm following you 100% and I'm even making money with it :)
I buy in the US, sell in Europe with a 25% premium and buy again, especially buy the stuff you can't buy in Europe and sell those.
And I sell about 200 ounces a month and buy back about 240 ounces a month.
This way, my silver stash rises pretty nice without any real cost besides about 8 hours a month work on it.
Hi Sudden Debt,
I just joined ZH. I love your commentary and insight. Keep up the good thoughts!
I just got involved with silver and would love to know how to sell to Europe.
Could you tell me who I can sell to in Europe and a safe way to get paid when or before I send silver?
Thanks a lot!
Yep I dont buy it 1 bit either, I dont care if the projection is S&P to 5,000 by next Friday. They can suck it Im buying up all the silver I can, let the lunatics play with their stocks all they like, I'm betting it will be the rug suddenly pulled out one of these mornings and nothing any stock holder can do about it. Elites win, retail scrubs will hold the bag.
I'd be with you on this, except I still need to buy food, electricity and clothing. too bad there is no easy way to stockpile electricity ...
S + P 500, the risk free asset.
The CBOE disagrees.
The Nasdaq is 50 points away from its 2007 peak, I wouldnt even use the year 2000 peak. I would assume the Russell 2000 '07 high would be some form of resistance for Sack.
C'mon - Sack needs a real challenge and recouping that '00 Nas high would be a real resume builder!
The best part is that I cant find a single person who is actually BUYING at these levels.
Not many people are selling, but no buyers.
Who exactly do the IB's plan to sell this inventory to?
Ben S. Bernanke on behalf of US taxpayers.
What taxpayer? Walmart part time employees make enough to cover the largest transfer of wealth in world history?
Just add printing......
Fannie Mae. It worked with everything else.
I'm sure it's the usual scam, get the general public 401k money to distribute to. Of course there is a lot less of it now, but that is always their scam, headlines every night about dow high to get the greed gene going.
Taking the last proper dip to be the start of July last year, we have moved from around 1020 on the S&P 500 to 1330 in less than 7 months.
The last time we moved from 1022 to 1330 it took 3 years and that was when the economy was supposed to be amazing and people had jobs. It feels so wrong.
And If we now know it was wrong and an aberration back then, what does it tell us now?
There will be no QE3, the Fed runs a severe risk of losing control over the yield curve. I think the Chairman knows this.
Bernanke's lips are already quivering explaining the position of the Fed, more monetary easing with no effect on employment will make the Chairman stutter like Hank Paulson.
The yield curve is so fucking 80s. It has been replaced by the NFLX curve.
There will be no QE3, the Fed runs a severe risk of losing control over the yield curve.
ChairStain would argue the opposite.
In the Bernanke's most recent video his hands are shaking quite noticeably.
why no qe3 ? it looks like they are able to now control price if crude, metals and food ?
You know what's fascinating -- none of the QE has hit the metals stocks. In fact, if you watch the action there it is more than apparent that the "invisible hand of Bennie Boy" is actively involved in trying to ram the sector down. IT is the ONLY sector actually trading and displaying any volatility.
Coincidence? You be the judge.
Great point - look at the areas of volatility / FX, Commodities...almost like there is effort to create real risk in these sectors vs. riskless equities.
Yup, precious metals are evil. S + P 500 is the risk free asset: "Don't fight fed," the banking cartels, or the asset management monkeys. they will destroy you.
Mr. String - I think there is a good chance they will actually destroy me (and some of my earthly friends) whether I fight them or not!
exactly right. when we fear them, they own us.
They own us anyway, but losing one's fear is the first step in breaking one's chains.
Of course, you are right hambone. My tongue was firmly planted in cheek. When the S + P 500 goes up 190% on monday one day, 241% on Tuesay like Zimbabwe, it will be meaningless destruction as 100,00,000 million dollar notes have a hard time getting a hold of 12 eggs.
This uptick is seen as good--it is not. It is not natural and it will not end well.
Hahaha. yer tongue my ass, fishook. +xxx
IWM poking above jul 07 hi
i have a $1000 bet we beat all time highs on the s&p500 before we collapse....i should have bet $10,000.
What will you do with all that worthless money, burn it?
that's fucking brilliant!
Nobody would expect you to pay up after the collapse. whoever took that bet is a CNBC grade moron!
...can you imagine the crowing on CNBC when we pass all time highs.....!
I sense even the CNBC guys/gals know this is weird. The floor traders cant figure out why we dont ever correct or get any volatility one way or the other.
Yep should be a great 15 minutes just before the market turns and heads back to all time new lows.
the trend is your friend... until it isn't.
Any trend is your friend. Doesn't matter if it is a trend upwards or downwards. The only trend that isn't much use is a flat line. Which you will notice they are avoiding.
Think of the market right now as a swing in a playground. To play it, you have to get it moving and to really play it you have to pump it into each rotation. Doesn't matter if it is swinging forward or backwards, climbing or falling. The game is in the motion and you play with the motion.
A swing that doesn't oscillate is not a good toy.
A market that does not oscillate is not making anyone any money.
why stop at 1,565?
Christ.. just keep it rolling and aim for 5,000
time to load up on SPY $500 leaps?
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