Global economic crisis

[Stephanie]

I'll take a -7.0 over a -70.0 or -700.0 any day. People were just trying to make a quick buck while they could.

[Brent]

Republican Sen. Charles Grassley of Iowa didn't appear to be joking, however, when he spoke with Cedar Rapids, Iowa, radio station WMT.

"I would suggest the first thing that would make me feel a little better toward them [AIG executives] is if they follow the Japanese example and come before the American people and take that deep bow and say, 'I am sorry,' and then either do one of two things: resign or go commit suicide," he said.

"And in the case of the Japanese, they usually commit suicide."

http://www.cnn.com/2009/POLITICS/03/16/ ... index.html

[cycloneye]

The Bears went to sleep again as the Bulls came out raging hard today extending the rally of up closes in the Dow from the last 6 days 5 up (Today +178).



DOW=7395.7 +178.73 +2.48%
NASDAQ=1462.11 +58.09 +4.14%
S&P 500=778.12 +24.23 +3.21%


After a rocky start, stocks barreled higher as techs surged and investors were encouraged by a report that showed new home construction unexpectedly jumped in February.

The Dow Jones Industrial Average gained 2.5 percent and S&P 500 gained about 3.2 percent.

The Nasdaq rocketed more than 4 percent as techs rallied following news that chip orders are on the rise and as Apple debuted its new iPhone software.

http://www.cnbc.com/id/29741162

[cycloneye]

After being down for a good part of today,stocks rebound after Federal Reserve acts to expand balance sheets and but U.S. Debt.

http://www.cnbc.com/id/29758096

[srainhoutx]

Fed to buy up to $300B long-term Treasury bonds

http://news.yahoo.com/s/ap/20090318/ap_ ... rest_rates

WASHINGTON – The Federal Reserve announced Wednesday it will spend up to $300 billion over the next six months to buy long-term government bonds, a new step aimed at lifting the country out of recession by lowering rates on mortgages and other consumer debt.

At the same time, the Fed left a key short-term bank lending rate at a record low of between zero and 0.25 percent. Economists predict the Fed will hold the rate in that zone for the rest of this year and for most — if not all — of next year.

[cycloneye]

As expected after the Fed Statement posted above,the Dow closed higher by +90 points.

DOW=7486.58 +90.88 +1.23%
NASDAQ=1491.22 +29.11 +1.99%
S&P 500=794.35 +16.23 +2.09%

[Nimbus]

The high of the day for the dow was 7572. Hope I'm wrong about 7600 being the top.

[RL3AO]

Big rally today with the announcement of the Gov't buying toxic assets.

[Squarethecircle]

The DOW looks to close above 7600 (now at 7640).

[cycloneye]

The bulls are running wild today after that Tresury bank plan was announced.

+440 at almost the close,over 7700.

[cycloneye]

Below are the closing numbers:

DOW=7775.86 +497.48 +6.84%
NASDAQ=1555.77 +98.50 +6.76%
S&P 500=822.91 +54.37 +7.07%

Stocks rocketed higher Monday as investors cheered details of the government plan to mop up toxic assets from banks' balance sheets.

The Dow Jones Industrial Average soared nearly 500 points, or 6.8 percent. The S&P 500 and Nasdaq also gained more than 6.5 percent.

It was the first time since mid-November that all three major indexes finished up more than 6 percent.

Today's rally came after a rocky week last week, marked by outrage over the AIG bonuses and the Fed's surprise announcement to buy U.S. debt, that left the Dow up just 0.75 percent for the week.

The government is planning to loan private private firms money to buy up to $1 trillion of bad assets, then share in the profit or loss when they are sold at a later date. The plan is two-pronged: One part will focus on purchasing toxic securities, the other on purchasing bad loans.

While some say that the government's proposal would actually make things worse for the economy, futures traders greeted anticipation of the announcement with enthusiasm.

"You cannot fight this intervention," Steve Grasso, of Stuart Frankel, told CNBC. "When you start to see the market just climb after weeks and months of being sold out, you have to participate."

http://www.cnbc.com/id/29840854

[Brent]

WOW, what a day

[Derek Ortt]

great time to sell into the rally

[Nimbus]

Wonder if this is or where the new top will be?

[vbhoutex]

How many here think the Dow will break 7600 by April?

Are you psychic? I wouldn't have believed this would happen if I hadn't seen it myself. Now the question is-Will it sustain of go back down? I tend to believe the latter will happen initially with rallyies like this several times before we do begin a slow but steady move upward in about 10 months. By then it will be obvious if ALL of the moves the government is making are working.

[Derek Ortt]

sell this rally! The fundamentals have not changed

[Nimbus]

Derek IYHO what is the best way to sell a rally?

1. buy put options?

2. buy ETF ultra short stocks?

3. Open a margin account and short a stock with low days to cover and add a buy stop safety?

Number 3 looks like it has the least overhead cost, but I've never been able to do all the math to be sure its the best approach.

edit: The SEF ETF has pretty low overhead, under 2% and you just buy and sell it like a stock.

The fund uses complex derivatives that perform opposite the Dow.

http://tinyurl.com/cakmvn

Once we broke out above 7500 its natural to see short covering take the Dow back up substantially.
My buy stops would have been taken out and I would have lost money if I had short sold the market this morning...

[Derek Ortt]

or just stay out of the market as I am doing... waiting for the real bottom

[DESTRUCTION5]

or just stay out of the market as I am doing... waiting for the real bottom

Ortt Just pushed the Hex button...Everyone aboard! Were going up from here!

[cycloneye]

After being down almost all the trading session,when the dow went down over 100 points,the Bulls came out of the cage in the last 5 minutes of trading before the 4:00 PM EDT close.



DOW=7749.81 +89.84 +1.17%
NASDAQ=1528.95 +12.43 +0.82%
S&P=813.88 +7.76 +0.96%

http://www.cnbc.com/id/29878094