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Market Thread - Monday - 1/26/08

Market Thread - 1/26/08

Pre-market DOW - 8021- up 48

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Plunge protection team is hard at work this morning

I think they have been protecting the Dow 8000 bottom

since Nov. This last test makes three!

I opened the

cnn.com page this morning and it's FILLED with really bad economic news. Yet, somehow, with all of that the DOW is UP over 100???? Please someone tell me how that's even possible??

The market has been expecting mostly bad news for quiet sometime

therefore it is already baked in the pricing.

I refuse to accept that argument any longer

The way the market shot up almost completely vertical at open suggests manipulation to me. That has been happening way too often lately.


You're probably right

On most days over the last year or so, what sector seems to lead the DJIA up or down? Financials? I haven't checked to see what's taking it up today.

Edit: 3 of the 4 top percentage gainers on the DJIA today are financial stocks: Bank of America (10.6%), CitiGroup (6.6%) and JP Morgan Chase (5.3%).

Well it's probably a combination of things

It certainly looks like the PPT is on full time duty. The market is being traded so thinly it makes manipulation even easier.

I wouldn't be surprised if a lot of the TARP money is being used, a few big accounts and some well time group emails could pull it off.

I think

the Obama factor will see a rise today. You could call it "High Hopes".

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."

I agree

I think there will be an upside bias until the plan is passed.

If gold breaks the low 900's

If gold breaks the low 900's i think it will trigger a bigger position in metals. I personally was thinking 950, however, a coin dealer told me he thought 925

Already, it is up to $911

Ironic lol

All paper money eventually returns to its real intrinsic value, zero. - Voltaire

SteveMT's picture

It will and it is right now. gold up $15+ at $913.

Gold is going to go way up.
Where is that thread about Peter Sciff was wrong?
High gold prices means that someone is buyinng it, and hyperinflation is going to arrive as the printing pressing go into over drive.
All that commercial paper that we now own should be printing pink slips and indictments against these miserable bankers and politicians.

CAT to cut 20,000 jobs Deere

CAT to cut 20,000 jobs
Deere to cut 700 jobs
McD profit misses target
HD to cut 7,000 jobs
Sprint to cut 8,000 jobs
HAL profit falls 32%

I predict the market will finish up.


SteveMT's picture

At 8:15 am MST, you are still correct! And I know why.

War is Peace
Freedom is Slavery
Ignorance is Strength

and my additions:

Transparency is Secrecy
Employment is Fascism

The See Saw

With the combination of good new and bad news I think the DOW is going to be trading between 8000 & 9000 for quiet sometime.