fan_since79

Stock Market: The Thread

1,036 posts in this topic

Dow is off 273 points, and the S&P is below its 50-day moving average.

 

Not good.

 

Just the other day we were told the economy was growing at a "robust" pace. LOL.

 

 

Edited by fan_since79

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I'm guessing you've been itching at the chance for a day like to today to post just such a thread to try and point out that the sky is falling?  The US economy grew at a rate of 4% last quarter and unemployment claims dropped but the negative news out of Argentina is taking center stage.  Unless you're a day trader or invest based on your emotions none of this should matter as you should be in it for the long haul.

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Dow is off 273 points, and the S&P is below its 50-day moving average.

Not good.

Just the other day we were told the economy was growing at a "robust" pace. LOL.

Gravestomper: Economy Edition

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I'm guessing you've been itching at the chance for a day like to today to post just such a thread to try and point out that the sky is falling?  The US economy grew at a rate of 4% last quarter and unemployment claims dropped but the negative news out of Argentina is taking center stage.  Unless you're a day trader or invest based on your emotions none of this should matter as you should be in it for the long haul.

 

the market is the most fickle place in the whole entire planet. argentina defaults, the world's markets take a dive.

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That's globalization for you.  The US continues to look like the prettiest girl at the dance but quite a few other countries are struggling.  Add in the Argentina default, Russia/Ukraine issue and the fact that the US has to raise rates at some point and investors have been scared away today.  There was a large sell order in place if the dow dropped 300 points which kicked in at one point further driving it down.  

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I'm guessing you've been itching at the chance for a day like to today to post just such a thread to try and point out that the sky is falling?  The US economy grew at a rate of 4% last quarter and unemployment claims dropped but the negative news out of Argentina is taking center stage.  Unless you're a day trader or invest based on your emotions none of this should matter as you should be in it for the long haul.

 

No offense but the unemployment rate is a joke when you count the worker participation rate.

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Agreed but I specifically mentioned unemployment claims falling and not the unemployment rate. The U6 number is still ugly and perhaps you can make the case that the number of claims dropped with people not being eligible but they just reported the lowest weekly number of claims in 8 years. Things are from good but at least it's a move in the right direction.

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Agreed but I specifically mentioned unemployment claims falling and not the unemployment rate. The U6 number is still ugly and perhaps you can make the case that the number of claims dropped with people not being eligible but they just reported the lowest weekly number of claims in 8 years. Things are from good but at least it's a move in the right direction.

Unfortunately unemployment claims rose last week. Small sample size I know but this country's labor force is still not in good shape and the Fed is still purchasing bonds. I can only wonder what this economy will look like once the Fed actually tries to sell their trillions of dollars in treasuries. It won't end well for the dollar that's for sure hence the BRICS beginning to solidify deals avoiding US currency.

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No offense but the unemployment rate is a joke when you count the worker participation rate.

 

 

 

While I agree that worker participation should be counted in the unemployment figures, it's funny how conservatives didn't worry about those numbers until around 2009 or so.  Coincidence for sure.

 

And yeah, the market is fickle.  However, if that is your baseline assumption for how the economy is doing then we're certainly much better off than we were even four years ago, when it was sitting at about 10,275.

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For the week ending July 24th initial claims were at the lowest level in 8 years at a level that is considered normal economic activity. Over 200K jobs have been added for 5 straight months which hasn't happened in well over a decade. Again no one has said things are perfect or even great but most signs are headed in the right direction which is a huge improvement over a few years ago. The US has plenty of pain left but so does most of the rest of the world and the numbers from the private sector have seen big improvements.

Edit - over 200K jobs added in July for a 6th straight month which hasn't happened since 1997.

Edited by Catwhoshatinthehat

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U6 is down to where it was at the start of the recession. It is taking longer than we would've liked and quite possibly longer than it need to but there is no doubt things are improving. Denying that only promotes an agenda-driven narrative.

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Looks like I will be working until I am 75.

 

You should view this as a good thing - it means stocks are cheaper than they were the day before.

So unless you need to retire tomorrow, this is a net positive.

Congrats!

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A pretty ugly start to October. Dow down 226 points.

 

They're blaming the riots in Hong Kong.

 

Wait till China ends the riots, and see what the stocks do.  I have a feeling no person coming home from groceries will stop them this time.  

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