Believe it: Dow's best week since 2003! - Mercedes-Benz Forum

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post #1 of 13 (permalink) Old 10-18-2008, 04:08 PM Thread Starter
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Believe it: Dow's best week since 2003!

Stocks declined Friday but held on to solid gains for the week, as investors wondered how badly the economy is ailing, and when it is going to recover.

The Dow Jones Industrial Average remained volatile Friday, swinging in a 563-point range including big gains and losses. A late-day swoon left the blue-chip measure down 127.04 points at the closing bell, off 1.4%, at 8852.22. Caterpillar was the Dow's weakest component on Friday, off 7.2% following a round of downbeat housing data. The average's financial names all finished lower as well, hurt by lingering worries about the credit crunch. Citigroup was the weakest of that group, off 6.4%.

But for the week, the Dow rose 4.8%, its first such gain since the meltdown of Lehman Brothers Holdings set off a global financial crisis in mid-September. The gain was also the Dow's biggest weekly rise in percentage terms since March 2003...

Today's Markets - WSJ.com

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post #2 of 13 (permalink) Old 10-18-2008, 07:24 PM
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Pitiful.

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post #3 of 13 (permalink) Old 10-18-2008, 08:14 PM
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An analogy I have used before.

If you have only been getting laid ONCE a YEAR, a change to TWICE is a 100% improvement. It still means you are only getting laid TWICE A YEAR.

In other words, when crawling out of a shit hole, celebrating that you are "just" covered in shit is not all that great.

And for the math impaired, the smaller the DOW, the bigger the percentage numbers actually look, though they aren't that big.

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post #4 of 13 (permalink) Old 10-18-2008, 08:19 PM
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I give Jayhawk the award for most consistent human ever. Wow.
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post #5 of 13 (permalink) Old 10-18-2008, 09:03 PM
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Actually I am with jay on this one, the bottom has been reached and I hope I am not wrong. Have faith!
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post #6 of 13 (permalink) Old 10-18-2008, 09:07 PM
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Actually I am with jay on this one, the bottom has been reached and I hope I am not wrong. Have faith!

You are young and presumably in it for the long haul so you should be correct.
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post #7 of 13 (permalink) Old 10-18-2008, 09:30 PM
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You are young and presumably in it for the long haul so you should be correct.
young is relative but opportunities are there if you care to look. Some days we lose some and some others we gain some, just stay the course and take some risks, when we are dead no one else will take them for us.
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post #8 of 13 (permalink) Old 10-18-2008, 09:52 PM
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Drew & Jay is bull and shane & mcbear is bear, but hopefully none of you is pig. Mad money-Jim Crammer said Bull & Bear make money but pig get slaughter. However, I am on the side of Drew, this is the intermediate bottom. The gap from 10K to 8300 has not been filled. Some time next week if one major DOW component make a good earning report in Q3, Dow will goes back to 10K. Then Shane and mcbear should start selling again.

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post #9 of 13 (permalink) Old 10-19-2008, 08:12 AM Thread Starter
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I give Jayhawk the award for most consistent human ever. Wow.
Consistency is good...

Don't believe everything you think
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post #10 of 13 (permalink) Old 10-19-2008, 08:14 AM
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Consistency is good...

Yeah but being correct at least once out of the last 2 1/2 yrs that you have been told the economy was going to shit and that the economy had a problem would have been nice as well but hey 1 or 2 is good..............
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