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Yes this rally is not substainable. To go up so fast is tell me that shorts are scurrying. Only a fool would think this rally can hold.
<<And that on top of a guaranteed rate of 5.8% in their fixed income fund without any risk to the participant.>> Wow what a deal. I would really check to see if the "No Risk" is true. I can't think of any fund with that kind of offer. For the last few years you could have been relaxing without trading.
First we had "Don't Miss the Train" and now Morgan Stanley says "glad I didn't miss that move' feeling."
Morgan Stanley: Stock Market Has Bottomed
Thursday October 10, 3:30 pm ET
By Thi Nguyen
NEW YORK (Reuters) - Rick Bensignor, Morgan Stanley's chief technical analyst, said the stock market has reached its bottom for the year, after the blue-chip Dow Jones industrial average (CBOT:^DJI - News) fell below its 5-year low Thursday morning.
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Bensignor expects to see a rally that is more sustainable than the 3-week long gains for stocks following the July 24 low.
"It's not absurd to say the Standard & Poor's 500 (CBOE:^SPX - News) will go back to the 900 level again," said Bensignor. "That is 17 percent higher than the current level. I think that's doable."
"I'm bullish," he said.
Following the July 24 low, the S&P 500 gained 25 percent in three weeks.
In a note sent out to clients early Thursday morning, Bensignor said investors should buy stocks when the Dow falls to 7200-7250 level, or several percent below its 5-year low of 7,286.27 reached on Wednesday at the close.
"We believe that we are shortly to get one of the best buying opportunities of the year," Bensignor wrote in the note. "It may not exceed the 25 percent rally that stemmed from the July lows to the August highs, but it should be worthy enough of a 'glad I didn't miss that move' feeling."
The Dow on Thursday morning at one point dropped to 7,197.49.
"That's it," said Bensignor. "This is a real kicker to me. I think today's low will hold as a low for the rest of the year."
"This (rally) won't be for a week or two, but it won't be a long-term one either," said Bensignor, "In this kind of market environment, I would say this is a mid-term one. (Compared with the rally following July 24)... this one will be more sustainable, and not that vicious."
On Thursday, the blue chips were up about 3.6 percent, at 7,548. The broader S&P 500 rose 28 points, or about 3.7 percent, to 805.31 after earlier touching a new 5-year low of 768.63.
The Nasdaq Composite Index (NasdaqSC:^IXIC - News) was up 51 points, or about 4.6 percent, at 1,165, after scraping a new 6-year low at 1,108.49.
On Wednesday, the Dow Jones Industrial average (CBOT:^DJI - News) ended at a 5-year closing low after Wall Street analysts slammed household names with sour predictions. The Wilshire 5000 total market index (AMEX:^TMW - News) is down more than 50 percent from its March 2000 high, erasing more than $8.5 trillion in market value.
"I think we will stop the downtrend here," said Bensignor. "Then we will either move sideways or higher, that's still to be determined. I don't think that will be a pure trend."
http://biz.yahoo.com/rb/021010/markets_stocks_technical_2.html
PM me the topic.
I have some DCLK based on Yahoo numbers.
I just started again a the other day. I been away for a while. Was flat and happy.
Yes I know that Shulz Dude. One thing to remember about him, don't trade against him. You will lose. As sharp as Marsh.
MSO has 90% of float short. I never have seen a marginable stock with this many shorts.
The graph tells it all. I have not seen CNBC in a while but I do remember pundit after pundits come on saying "No way will we ever see the Sept 2001 lows broken, it's a non issue"
A big problem for 401K investments is most companies limit investment choices. That is why we find no real fear. Not many have the ability to pull out of the market and move into gold ect.
I have this article framed. A true classic from 11/2000. http://money.cnn.com/2000/11/14/markets/cohen/
ML left with holding the bag. Yup business is this bad.
Merrill left holding unsold chip issue
By John Burton in Singapore
Published: October 6 2002 22:03 / Last Updated: October 6 2002 22:03
Merrill Lynch looks set to become an unwilling shareholder in Singapore's Chartered Semiconductor on Monday after a US$633m rights issue it underwrote for the troubled state-owned chipmaker fell flat.
As the lead underwriter, Merrill might end up with up to 18 per cent of Chartered at a cost of $250m as it mops up unwanted shares. The US investment bank on Sunday would not comment on its exposure.
Merrill received an estimated $2.5m fee for underwriting the deal, which involved Chartered issuing eight new shares for every 10 held by existing shareholders. The offer closes on Monday.
Singapore Technologies, the state investment group and Chartered's parent, said it would take up its entire 60.5 per cent entitlement.
Chartered surprised the market in early September when it announced the rights issue in spite of an earlier assurance that it was not in need of new funds.
The new shares were priced at S$1, a 52 per cent discount to its share price then. But the shares are now trading slightly below S$1 on worries of continued losses and increased capital investments at the world's third-largest maker of customised chips.
Analysts believe that the share price must rise to at least S$1.05 to entice shareholders to take up the offer.
Unless Merrill finds a strategic investor to buy its stake, it might face a long wait in selling the shares on the open market since the stock overhang is likely to depress the share price.
Chartered has fallen by 75 per cent this year, making it the worst performer in the benchmark Straits Times Index, after the chipmaker reported losses over the past six quarters. It is not expected to return to profitability until at least 2004.
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=103....
It will take more that one BM, to get to the bottom. The collapse will be a domino effect across the board for days. With no recovery in sight.
I guess we can expect a RATE CUT any day now.
Notice the Headline "J.P. Morgan set to fire 4,000 bankers -- report" Tell me how many headlines used the word fire for layoffs. The media control peoples thinking. The word fire is normally used when you have justification but I bet they get some kind of parachute. We all know they did not get "fired" but a pat on the back for job well done.
What did you expect from Dick "The Weasel" Grasso.
This is a test. hehehe I agree, it's not worth the time to discuss. At least you reconsidered fairly quickly, something SI would have never done.
Don't ask for personal information so you can sell it to advertisers. You should have figured that would draw strong reaction when it's mandatory to fill out. What a goof up.
Bill Z, Here is a good site for weather. I live in your area too and watching this storm closely.
http://vortex.plymouth.edu/tropical.html
Are you sure it wasn't Alan Greenspan!
NWRE mentioned yesterday total break out. Today it never turned negative and up 3.33%.
Did you get your 100.00 check.
NWRE TOTAL BREAKOUT.
On profile. It does not name the bookmarkers.
I am long across the board now.
Institi are buying now across the board. We may get rally here.
Zeev has 576 peoplemarks. WOW.
CRXL was looking at it and right before my eyes it pops huge. did not get any YET but CRXL has the Nile vaccine.
just a heads up. intraday charts like that one caught early can make some money.
MYGN moving on up nicely today. take a look.
Qwest been a monster. Even today it's up 10%.
They are just moving it up for shorting positions. We will know for sure at 10:00 for true direction. I think it is a head fake.
Did not trade yesterday or will I today. The US dollar at 50 day ma and we are out of the channel, now for the bad...bad company news everyday. So I will be flat until I see some kind of direction.
http://quotes.ino.com/chart/?s=NYBOT_DXY0&v=d12
Who Owns Water?
by Maude Barlow & Tony Clarke
"Water promises to be to the 21st century what oil was to the 20th century: the precious commodity that determines the wealth of nations." --Fortune
the World Summit on Sustainable Development draws closer, clear lines of contention are forming, particularly around the future of the world's freshwater resources. The setting of the summit paints the picture. Government and corporate delegates to the September meeting will gather in the lavish hotels and convention facilities of Sandton, the fabulously wealthy Johannesburg suburb that houses huge estates, English gardens and swimming pools, and has become South Africa's new financial epicenter. There, they will meet with World Bank and World Trade Organization officials to set the stage for the privatization of water.
At the same time, activists from South Africa and around the world with a very different vision will gather in very different settings to fight for a water-secure future. One such venue will be Alexandra Township, a poverty-stricken community where sanitation, electricity and water services have been privatized and cut off to those who cannot afford them. Alexandra is situated right next door to Sandton and divided only by a river so polluted that it has cholera warning signs on its banks. There could not be a more fitting setting for Rio+10 than South Africa, because neighboring Sandton and Alexandra represent the great divide that characterizes the current debate over water. Moreover, South Africa is the birthplace of one of the nucleus groups that form the heart of a new global civil society movement dedicated to saving the world's water as part of the global commons.
This movement originates in a fight for survival. The world is running out of fresh water. Humanity is polluting, diverting and depleting the wellspring of life at a startling rate. With every passing day, our demand for fresh water outpaces its availability, and thousands more people are put at risk. Already, the social, political and economic impacts of water scarcity are rapidly becoming a destabilizing force, with water-related conflicts springing up around the globe. Quite simply, unless we dramatically change our ways, between one-half and two-thirds of humanity will be living with severe freshwater shortages within the next quarter-century.
It seemed to sneak up on us, or at least those of us living in the North. Until the past decade, the study of fresh water was left to highly specialized groups of experts--hydrologists, engineers, scientists, city planners, weather forecasters and others with a niche interest in what so many of us took for granted. Many knew about the condition of water in the Third World, including the millions who die of waterborne diseases every year. But this was seen as an issue of poverty, poor sanitation and injustice--all areas that could be addressed in the just world for which we were fighting.
Now, however, an increasing number of voices--including human rights and environmental groups, think tanks and research organizations, official international agencies and thousands of community groups around the world--are sounding the alarm. The earth's fresh water is finite and small, representing less than one half of 1 percent of the world's total water stock. Not only are we adding 85 million new people to the planet every year, but our per capita use of water is doubling every twenty years, at more than twice the rate of human population growth. A legacy of factory farming, flood irrigation, the construction of massive dams, toxic dumping, wetlands and forest destruction, and urban and industrial pollution has damaged the Earth's surface water so badly that we are now mining the underground water reserves far faster than nature can replenish them.
The earth's "hot stains"--areas where water reserves are disappearing--include the Middle East, Northern China, Mexico, California and almost two dozen countries in Africa. Today thirty-one countries and over 1 billion people completely lack access to clean water. Every eight seconds a child dies from drinking contaminated water. The global freshwater crisis looms as one of the greatest threats ever to the survival of our planet.
http://www.thenation.com/doc.mhtml?i=20020902&s=barlow
15 Replies to your question. That should answer your question.
Bill Miller said "Anyone who is now selling stocks at multi-year lows in the third year of a bear market after the worst period in 15 years might want to consider whether this is likely to constitute a successful investment strategy,"
Softechie learned his lesson.
don't you ever do that to me again. Chit.
Softechie 4 post in 3 days on SI. He must of had his head handed to him on a platter.
Because he is Jaded. He lost all concept of investing.
Softechie doesn't count.