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American Express & Visa Account For 103% Of The Dow's Intraday Gains
Visa and American Express are up over 4.5% each today (the latter more earlier) to new record highs (on a day when Facebook, Google, and Apple are plumbing the day's lows). The combined effect of the Visa and American Express gains are over 67 Dow points... the Dow is up 65.8 points on the day...
The AXP move is the largest since October 2011 and V the largest day jump since May 2013...
Looks like investors decide at 1045ET that it was time to sell AXP and greatly rotate into V.
Thank goodness for credit card companies (but the Dow remains red for the year)
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Charge it bitchez!
http://youtu.be/WcQzdYk7QHE
You know everything's going to be OK when the money-changers are popping.
"If can control flow of money, is not care who is write law" - Meyer Anschel Rothschild (aka Satan Jr. Incarnate)
VIX or GTFO.
Amex & Visa..... buuh bye
Seriously, you can't see the day they will offer a BitCoin credit card? I find your lack of vision disturbing.
Bit Coin is interesting, but is miss critical component, what is backing? What is represent? How is BitCoin unique of other crypto currency? Boris is full aware of folly of Central Plan Currency Issuance, but what is authority, good or bad? Any tokenize representation of wealth is still just is token and is 100% depend on counter-party acceptance in good faith. BitCoin is have same weakness as Petro Dollar with backing of US Military, er, Faith and Credit of government of USSA.
Come on now, bitcoin IS essentially just another credit card ... just one that does not charge interest, for now ....
If you had 1/10th of an understanding of Bitcoin (pro et contra) you would have to admit Bitcoin is more like a debit card than a credit card.
If they do, it won't be these two that offer it. And even if Bitcoin becomes some evil, one-world currency who cares? I will just go along with it if it means I get rich and powerful.
creators of the Fed=SECRET
creators of the Bitcoin=SECRET
GET IT ???
BTATFH - aka, always is bigger sucker down stream.
(until isn't, then SHTF)
Out the door to Target and Niemann as I type. Whoopee.
VIX is popping today, SSDD
Send me some. I'll use them to buy Bitcoin and then send them back.
Hope they have that freakin ATM in NYC when I go there in Feb.
Who's making the Bitcoin credit cards?
PRICELESS
so you take free money...
and you "loan" it out to people hopping they never repay it... at 21%
and between those 2 actions you have to find a profit....
So, the stock du jour makes sure this shit keeps pumping up?
Good plan, good plan. Whose turn is it next?
amex missed on earnings and was $10M over the 8.54B target
stock up 4%
yippee kay yay motherfuckers!!!!
Whats a Credit Card?...Oh my bad I forgot...Slavery.
Slavery?
Only if used incorrectly.
Not using VISA much anymore. Not buying much anymore and don't intend to. Eff debt.
"Eff debt."
You are an enemy of the state according to Paul "When Mars Attacks" Krugman, Ben Shalom Bernanke, Ole' Janet Yellern, etc.
The Dow Jones Industrial Average isn't an average, it's a marketing gimmick hatched in the mind of Charles Dow long ago. And as Tyler pointed out, just two stocks make up the entire move in the "Average" today.
I've put something together that explains the nonsense that is the Dow, how it started, how it's calculated, and how each of the individual stocks affect the overall "Average".
There is also a spreadsheet that will let you enter changes in the Dow and see how it changes the overall "Average".
If you want to have some fun, see if your, or any, financial advisor can explain what the Dow Divisor is and what is the numerical value. All you will hear is crickets.
https://drive.google.com/folderview?id=0B51-74tGswAXenRzN1cwZzJNS1U&usp=...
.
Palladin, great job!
I only relatively recently realized to what an extent "the Dow" is a spurious and meaningless measure of the equities market, and the more that I continue to learn and understand about it, the madder and more infuriated I become with all the stock pimps to point to it, and especially to multi-decade charts of it, as some putative "proof" of the inherent value in holding stocks "for the long haul".
Palladin's essay that he linked should be a featured article on the front page of ZH.
It goes well beyond the survivorship bias scam that the sell-side never wishes to discuss, and is a must read for anyone who believes modern stock market "investing" is anything other than a highly manipulated fraud & illusion.
Outstanding exposition. Thanks much for your efforts!
AXP and V are debt manufacturers, guess thats all we are good at anymore. Maybe Dow should add MA and COF and watch the index rocket higher.
Basic translation: People can't afford to pay cash and debt slaves are good for wallstreet.
We can't have a massive solar flare fast enough.
I WAS an AXP customer...