[quote=Soon 2 B Gone]

[quote=mikebutler222]

Why change the subject to a strawman of your own creation, Putsy? No one ever said forget the downside.

[/quote]

Do you agree with the kid, that the Dow will NEVER decline 50%?

[/quote]

"Will"? No, it won't. "Can't"? Of course it can.

[quote=Soon 2 B Gone]

[quote=mikebutler222]

Why change the subject to a strawman of your own creation, Putsy? No one ever said forget the downside.

[/quote]

Do you agree with the kid, that the Dow will NEVER decline 50%?

[/quote]

Putsy, stop trying to change the subject and give the kid his due, you dried up out corner office maggot 

Soon 2 B Back,

You were the one that said the DOW would hit 6,000 before it would hit 12,000.  Give the man credit, his prediction was more accurate than yours.

Even if the DOW hits 6000 by year end, it achieved 12,000 (albeit briefly) first. 

I don't think the DOW will hit 6000 although it certainly is possible. 

out = old

[quote=dude]

Soon 2 B Back,

You were the one that said the DOW would hit 6,000 before it would hit 12,000.  Give the man credit, his prediction was more accurate than yours.

Even if the DOW hits 6000 by year end, it achieved 12,000 (albeit briefly) first. 

I don't think the DOW will hit 6000 although it certainly is possible. 

[/quote]

I believe what I was saying was that the Dow would hit 7,500 before it hit 12,000.  It has yet to close at 12,000 so I am not yet wrong, although I admit that it is closer to 12,000 than to 7,500.

The child put up the smiley face icon and declared that the Dow would hit 12,000 because earnings never go down--therefore prices never go down.  Why his average account is worth $67,000 and he's been in the business for a great many hours.

Why wouldn't everybody have faith in that prediction.

[quote=Soon 2 B Gone][quote=dude]

Soon 2 B Back,

You were the one that said the DOW would hit 6,000 before it would hit 12,000.  Give the man credit, his prediction was more accurate than yours.

Even if the DOW hits 6000 by year end, it achieved 12,000 (albeit briefly) first. 

I don't think the DOW will hit 6000 although it certainly is possible. 

[/quote]

I believe what I was saying was that the Dow would hit 7,500 before it hit 12,000.  It has yet to close at 12,000 so I am not yet wrong, although I admit that it is closer to 12,000 than to 7,500.

The child put up the smiley face icon and declared that the Dow would hit 12,000 because earnings never go down--therefore prices never go down.  Why his average account is worth $67,000 and he's been in the business for a great many hours.

Why wouldn't everybody have faith in that prediction.

[/quote]

You never said that here, and he never said that here.

From where do you get these preposterous notions, or won't the voices tell you who they are? 

I'm not "big" on technical analysis, but a guy on CNBC just said that the pit traders add the previous trading range--10,900 to 11,700, or 800 points--to the previous high to determine the new range.

So, according to them the support zone is now 11,700 and resistance is at 12,500.

The Money Honey is talking about the Dow's history and they're pointing out that 11,000 Dow first occured in May, 1999--so it took seven years to gain 1,000 points.  Less than 10% over 7 years is hardly anything to write home about.

Anybody figure we'll see Dow 13,000 this year?  Next year?

Newbie I hate to tell you I told you so, but…



I need a new tagline now.

[quote=Soon 2 B Gone]The Money Honey is talking about the Dow's history and they're pointing out that 11,000 Dow first occured in May, 1999--so it took seven years to gain 1,000 points.  Less than 10% over 7 years is hardly anything to write home about.[/quote]

The fact that it took seven years to move less than 10%, while earnings moved 75% is a pretty good argument against a collapse.  A pullback...maybe, but I don't see any near-term collapse to 6,000.  Stocks are certainly cheaper, even now, than they were in the late 90's.

[quote=Indyone]

[quote=Soon 2 B Gone]The Money Honey is talking about the Dow's history and they're pointing out that 11,000 Dow first occured in May, 1999--so it took seven years to gain 1,000 points.  Less than 10% over 7 years is hardly anything to write home about.[/quote]

The fact that it took seven years to move less than 10%, while earnings moved 75% is a pretty good argument against a collapse.  A pullback...maybe, but I don't see any near-term collapse to 6,000.  Stocks are certainly cheaper, even now, than they were in the late 90's.

[/quote]

Say what?  From where I sit if a 75% gain in earnings only results in a 10% gain in valuations one must ask what will happen if there is only a 50% gain in earnings, or a 25% gain, or a 15% decline in earnings.

Oh wait, I forgot. Earnings cannot decline.  My bad.

[quote=Soon 2 B Gone]The Money Honey is talking about the Dow’s history and they’re pointing out that 11,000 Dow first occured in May, 1999–so it took seven years to gain 1,000 points.  Less than 10% over 7 years is hardly anything to write home about.[/quote]

That would be true only for those people who bought the high 7 years ago.  Buying at any other point during those 7 years would have resulted in a heck of a lot more than 10%.

Wonder if people on wall street were to say negative things about the market… Would they be fired?



Even now when the Fed chair accidently says what he means there is a ripple of concern and he is blasted.



I remember a time when the .com… Everyone on Wall Street had a buy, but at the same time in the back rooms they were all sell. In the end I think most weathered the storm, but something like integrity is missing. GO PFE up from 20.

BankRep,

Congrats for putting your cojones on the line and making a bold statement.  No matter how some on here squirm over symantics, you were right.

Cheers!

Yaaaaaaayyy!  Newbie is officially wrong!!!  Dow close...12,011.73.

S2BG...give the banker his due!!!

Tell me Indy, if you had some serious money would you turn it over to the young man who declared that the Dow would hit 12,000 because earnings never go down so the Dow has to go up?

Tomorrow you will be fielding calls from clients who are asking if they should sell, to take their profits while they have them.

What are you going to tell them?

I'm already advising them to take some profits off the table.

...and I invest my own "serious money"...

(btw...he was still right about 12,000...)

This old man is pathetic… Lets just visualize for a moment… This guy sitting in his one bedroom apartment in NYC, bound to a laptop to receive his only source of joy in life… Addicted to several websites related to this industry, spouting off knowledge on 100% of the topics, while truly making intelligent comments on about 6% of them…

[quote=Indyone]

I'm already advising them to take some profits off the table.

...and I invest my own "serious money"...

[/quote]

If you tell them to take their profits and the market continues to soar how will you explain why you didn't know that it would continue to soar?

That’s why you tell them to take SOME profits, dummy!

[quote=Indyone]That's why you tell them to take SOME profits, dummy![/quote]

So you're admiting that your advice is a hedge--that you really don't have a clue to what the market is going to do.

Would that be wrong?