Just positive sentiment about nothing..fundamentally earning forecasts are beating estimates (but this is off a low base), why cant investors/asset managers relise this....economic data not that great and still we have large debt levels within households (and countries like US and Pigs etc)....just my two cents worth.
I also dont get this sudden surge in the markets. A couple of days ago the ALSI made a "dead cross" when it broke below 27200. When you listen to the commentators on CNBC it is all doom and gloom. If you go onto other sites such as traderscorner, it doom and gloom and short recommendations.So I dont know......traderscorner for instance were shorting OML at 1320, while SBK gave a long recommendation on the same level !Maybe I just dont understand ....
Hey WES dont listen to all the gobbledy goog on CNBC/Bloomberg etc and Traders corner they have to say something thats what they get paid for and normally its c%%p just listen to our resident guru Simon just trade the price.
Bernanke summary "he cautioned that unemployment was likely to remain high into 2011, and said that this could damage already fragile consumer confidence and potentially undermine what is expected to be a very gradual recovery.Bernanke said the Federal Reserve had an array of weapons at its disposal to withdraw its unprecedented monetary stimulus when the time was right, even if its balance sheet remained large for a time."This means a recovery what recovery people still do not have jobs Mr Obama .Oh and by the wa the stimulus you want me to continue ,leads to inflation and inflation leads to higher interest rates and higher interest rates means deflation cause thats the only tool left in the tool box the dollar got a bid and then we woke up today and Oh dear we forgot the ECB are going to do the stress test and we short the euro better cover before tomorrow . Nothing exciting anybody all I can say is the big boys are trying to find places to keep value of their assets knowing we are going back to the days of 1985 ( hey I was 18 something thats cool man)
I was 18 Simon There a a song by bowling for soup mate 1985 my best ( Brian Adams said 18 till I die ) and I got me first car a 13 hundred escort no floor boards had to put de wood across the floor so I could work the peddles ( rust bru ) Radio cut into dash , no air con just fan .blow a bit of smoke so had to fill petrol and oil most times bru but petrol to quarter tank .Oh and worked at Hyper by the sea for R 1,25 per hour to buy varsity books .That was 1985 I skim that was a bear market to me but had no stress bru had no worries about longs and shorts and could protect the eggs
Is the good results from companies due to cost saving or an increase in headline earnings ? If it is due to cost savings it means the consumer is still not spending,which means that this surge might limited, eventually you can only cut costs to a point, to get into a bull market the consumer have to spend...
Well I checking out the second leg of the M playing out on the lucky chart click on the 8 hour then doa straight line on the 130 and one on 12750 you should see the M Saash .Well I hope the M plays out otherwise I am going to have to rather focus on some other patterns like the Pyramid pattern with the Bonita silhouette that could cause a bull market then I would have to do major short covering He He
Here is my opinion. If you are an American, with money to invest, and you are seeing some massive banks fail recently - your perception towards risk free will be somewhat shaken. So you look at the paltry interest rates on offer, and then look at companies offering 2% - 3% dividend yields, and an earnings yield of say 3% for overvalued companies (with a PE of 30, say - maybe you would be justified in thinking - hey, isn't buying an overvalued company less risk than putting my money in a bank right now?