Sys1 wrote:OilFinder : You are a little bit childish, don't you think?
ralfy wrote:Easy to make a stock market rise: just throw in some more funny money.
The European Central Bank is readying another round of low interest loans for Europe's banks that could top 500bn euros (£423bn, $673bn).
On Wednesday it will hold its second long-term refinancing operation (LTRO), an opportunity for Europe's banks to borrow money at low interest rates.
The first round was carried out on 21 December when banks borrowed 489bn euros.
The programme is credited with restoring confidence in Europe's banks.
"In some cases, time has been bought that will enable banks to work through their difficulties," said Bridget Gandy, in a report by the credit rating agency Fitch.
But Fitch warned that for some smaller banks, it is only the ECB funding that is keeping them afloat.
"For other already low-rated banks, the long-term refinancing operation's life-support is merely stalling their demise."
TheAntiDoomer wrote:13,062!!!!
dinopello wrote:TheAntiDoomer wrote:13,062!!!!
Only 1000 more to go to be back where it was 5 years ago (ignoring inflation) ! Woohooo!
TheAntiDoomer wrote:[
TheAntiDoomer wrote:^For me its represents a President who has taken us from DOW 6500 to DOW 13,170
TheAntiDoomer wrote:^For me its represents a President who has taken us from DOW 6500 to DOW 13,170
OilFinder2 wrote:BTW, speaking of AP, I'm browsing through the stock market thread, and around Sept-Oct 2009 he really started getting ... nervous. Total denial. Lots of doozies around ppg 55 through the sixties. For example, this oneAirlinePilot wrote:... If you stay in this market be forewarned..no country which has embarked on the monetary policy which we are currently engaged has sustained the kind of market moves we have seen in the last year. The markets are being manipulated and artificially propped up by an unsustainable effort which at some point will fail. There is Fraud here the likes of which no one has ever seen and investing your hard earned money into this giant Ponzi scheme is riskier and stupider than ever. They want you to feel left out so you can throw it all right into their pockets. I'm not fooled by it, but so many will be....
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AirlinePilot wrote:OF, you have had the wool successfully pulled over your eyes. Short term does not a market make. You can come back here next year or in 18 months when the market is at 13000 and I'll eat my internet hat!
AirlinePilot wrote: I would also suggest that if one is honest about it there appears to be serious resistance at the 13,000 level.
(Reuters) - The Dow closed at its highest level in more than four years on Tuesday after U.S. manufacturing expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery.
The Dow now sits at levels not seen since December 2007. The gains leave the benchmark S&P 500 within about 16 points of a high reached in May 2008. A convincing break above that level could set the market up for more gains, traders said.
"That's where a lot of traders' eyes are right now - it might be tough to get through there the first time," said Michael James, senior trader at Wedbush Morgan in Los Angeles.
But the Nasdaq sold off sharply into the close on weakness in Apple (AAPL.O) and BlackBerry maker Research in Motion (RIMM.O) in a sign the market could struggle to make further headway in the short-term.
The Institute for Supply Management said U.S. manufacturing growth came in at its strongest rate in 10 months in April. That reading suggested the economy remains resilient after indications it had lost momentum at the start of the second quarter.
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OilFinder2 wrote:AirlinePilot wrote: I would also suggest that if one is honest about it there appears to be serious resistance at the 13,000 level.
I would suggest that if one is honest about it there appears to be serious support at the 13,000 level!
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