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Don't Call It A Comeback!!
- Thread starter tonyfloyd
- Start date
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C
Chuck
Guest
Hey Tony it's a start right, hopefully it's not short lived.
- Joined
- Oct 18, 2002
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It's happened plenty of times before...and it will again...bear market rallies are some of the strongest rallies you'll ever see
- Joined
- Apr 3, 2007
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It's happened plenty of times before...and it will again...bear market rallies are some of the strongest rallies you'll ever see
they've never had their balls squeezed like this!!
11% in one day???
- Joined
- Feb 28, 2004
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Caution! This market is extremely volatile and responds to a wide variety of parameters, not just company results. The huge jump is directly linked to the European banks infusing a trillion dollars into the European system. Volatility will continue because nothing has been fixed at the base level.
- Joined
- Oct 18, 2002
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- 2,925
- Reaction score
- 105
- Joined
- Sep 27, 2005
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Today was the biggest jump in history. Tomorrow will make today the second biggest jump in history... within a few weeks everything will be back to normal. I will wake up to see 10 LLL.com's in my moniker account... From our perspective...All we can do is hope for the best, really.
- Joined
- Feb 28, 2004
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There is no industrial growth. Jobs are outsourced. There are bilateral agreements with dozens of countries abroad, making imports and services so cheap that American workers cannot compete. The real estate market has not reached bottom.
We're in a recession and we just avoid saying the word. The stock market's gains today are irrelevant. The dominoes have gotten bigger and bigger and they create bigger waves internationally. Volatility is extremely high.
We're in a recession and we just avoid saying the word. The stock market's gains today are irrelevant. The dominoes have gotten bigger and bigger and they create bigger waves internationally. Volatility is extremely high.
- Joined
- Nov 16, 2006
- Messages
- 7,441
- Reaction score
- 7
European stocks surged Monday, with the Dow Jones Stoxx 600 Index rebounding from its worst weekly performance on record, as investors cheered signs that global leaders are prepared to make concrete and decisive attempts to prop up the financials sector.
"No one can expect that any of this will avert recession. The forces of economic contraction were set in motion long ago by the credit crisis," said Mike Lenhoff, chief strategist at Brewin Dolphin Securities in London. "But the intention behind introducing a coordinated and, to a large extent, uniform response is to restore confidence and prevent a recession from turning into something far worse."
The Dow Jones Stoxx 600 Index rocketed up 9.9% to 225.40, more than wiping out Friday's hefty 7.5% drop in the process. The index slumped 22% last week, its largest weekly point and percentage decline in its history. In terms of national markets, the U.K.'s FTSE 100 Index jumped 7.1% to 4212.88, while France's CAC-40 Index advanced 11.2% to 3531.50. Germany's DAX Index gained 11.4% to 5062.45.
Europe's advance followed broad gains in Asia with Hong Kong's Hang Seng Index jumping 10% while markets in Australia and South Korea also posted hefty gains. Japan's key Nikkei Index was closed for trading due to a holiday.
Over the weekend, governments in the U.S. and Asia pledged to help prop up their ailing banking sectors.
German Chancellor Angela Merkel Monday unveiled details of a national bailout package of up to EUR500 billion, while French President Nicolas Sarkozy said that only public bodies can restore confidence in markets, as he unveiled a rescue plan for the financial sector worth EUR360 billion.
"Risks remain and it is crucial that governments move ahead with the agreed action soon in order to maintain any positive momentum in the markets," said Lena Komileva, head of G7 market economics at Tullett Prebon in London.
The U.K. government meanwhile confirmed that it is investing GBP37 billion in two U.K. banks - Royal Bank of Scotland Group and the soon-to-be-merged Lloyds TSB and HBOS - in order to raise the amount of capital they have. Another bank, Barclays, said it won't take money from the government, but will raise more than GBP6.5 billion through new share issues and balance sheet management.
RBS shares tumbled 8.4% to 66 pence on the news, while Barclays rallied 3.7% to 215 pence. HBOS dropped 34% to 82 pence and Lloyds TSB lost 19% to 154 pence.
Elsewhere, Deutsche Bank shares rocketed up 12% to EUR35.0 in Germany, while Italy's Intesa Sanpaolo soared 16% to EUR3.36.
Spain's Banco Santander gained 12% to EUR10.19 after saying it is in talks to acquire full control of Sovereign Bancorp, a large U.S. thrift-bank holding company hobbled by souring loans.
Societe Generale dropped 2% to EUR49.0 after it denied market rumors that it has suffered losses in its structured products unit and that, as a result, it would need to raise fresh capital.
Meanwhile, German luxury car maker BMW gained 11% to EUR21.85 after saying it would close several domestic plants as it reduces output to meet slowing demand for automobiles.
In Amsterdam, Philips Electronics plunged 3.2% to EUR15.28 after it reported a bigger-than-expected fall in third-quarter sales on slowing demand in Europe and in emerging markets.
"No one can expect that any of this will avert recession. The forces of economic contraction were set in motion long ago by the credit crisis," said Mike Lenhoff, chief strategist at Brewin Dolphin Securities in London. "But the intention behind introducing a coordinated and, to a large extent, uniform response is to restore confidence and prevent a recession from turning into something far worse."
The Dow Jones Stoxx 600 Index rocketed up 9.9% to 225.40, more than wiping out Friday's hefty 7.5% drop in the process. The index slumped 22% last week, its largest weekly point and percentage decline in its history. In terms of national markets, the U.K.'s FTSE 100 Index jumped 7.1% to 4212.88, while France's CAC-40 Index advanced 11.2% to 3531.50. Germany's DAX Index gained 11.4% to 5062.45.
Europe's advance followed broad gains in Asia with Hong Kong's Hang Seng Index jumping 10% while markets in Australia and South Korea also posted hefty gains. Japan's key Nikkei Index was closed for trading due to a holiday.
Over the weekend, governments in the U.S. and Asia pledged to help prop up their ailing banking sectors.
German Chancellor Angela Merkel Monday unveiled details of a national bailout package of up to EUR500 billion, while French President Nicolas Sarkozy said that only public bodies can restore confidence in markets, as he unveiled a rescue plan for the financial sector worth EUR360 billion.
"Risks remain and it is crucial that governments move ahead with the agreed action soon in order to maintain any positive momentum in the markets," said Lena Komileva, head of G7 market economics at Tullett Prebon in London.
The U.K. government meanwhile confirmed that it is investing GBP37 billion in two U.K. banks - Royal Bank of Scotland Group and the soon-to-be-merged Lloyds TSB and HBOS - in order to raise the amount of capital they have. Another bank, Barclays, said it won't take money from the government, but will raise more than GBP6.5 billion through new share issues and balance sheet management.
RBS shares tumbled 8.4% to 66 pence on the news, while Barclays rallied 3.7% to 215 pence. HBOS dropped 34% to 82 pence and Lloyds TSB lost 19% to 154 pence.
Elsewhere, Deutsche Bank shares rocketed up 12% to EUR35.0 in Germany, while Italy's Intesa Sanpaolo soared 16% to EUR3.36.
Spain's Banco Santander gained 12% to EUR10.19 after saying it is in talks to acquire full control of Sovereign Bancorp, a large U.S. thrift-bank holding company hobbled by souring loans.
Societe Generale dropped 2% to EUR49.0 after it denied market rumors that it has suffered losses in its structured products unit and that, as a result, it would need to raise fresh capital.
Meanwhile, German luxury car maker BMW gained 11% to EUR21.85 after saying it would close several domestic plants as it reduces output to meet slowing demand for automobiles.
In Amsterdam, Philips Electronics plunged 3.2% to EUR15.28 after it reported a bigger-than-expected fall in third-quarter sales on slowing demand in Europe and in emerging markets.
- Joined
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Sorry, not how it works...but the great thing is that it works, if we don't interfere that is
- Joined
- Nov 5, 2007
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This happened after sept 11 attacks also. Market tanked the week stock market opened. Then, it rallied the following week. But what happened after? It started going down and down until it bottomed out.
Nothing has changed folks. Don't be fooled.
Nothing has changed folks. Don't be fooled.
- Joined
- Feb 25, 2008
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- 451
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- 0
And again in 2003 after the Iraq war started. Go figure.
However, it did regain, and was at it's strongest point around Xmas shopping period of 2007, before slowly deflating and then crashing again over the last two weeks.
The point is that whilst it CAN go lower, it's at a definite low point now, and if you buy in now, you can still get things a lot cheaper than the high point that will happen in a few weeks (which will be the time to sell out) before it starts to deflate, and then equalize.
However, it did regain, and was at it's strongest point around Xmas shopping period of 2007, before slowly deflating and then crashing again over the last two weeks.
The point is that whilst it CAN go lower, it's at a definite low point now, and if you buy in now, you can still get things a lot cheaper than the high point that will happen in a few weeks (which will be the time to sell out) before it starts to deflate, and then equalize.
- Joined
- Nov 3, 2006
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Hehe,
My friend came up on google today...
My friend came up on google today...
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