| To: Vendit™ who wrote (42980) | 1/1/2013 9:57:41 PM | | From: Mr. Aloha | | | | The European markets aren't open yet. That DAX quote is from Dec. 28.
If this Fiscal Cliff bill passes the House, the DAX will open much higher IMO.
Judging from some of the posts on this board, it seems there are a lot of people short the market trying to justify why it should go down.
If this bill passes, there could be a huge short-covering rally on a "buy the news" reaction after the recent selloff on the rumor and worries about falling off the fiscal cliff.
AAPL in particular got huge selling in recent weeks as people locked in a lower capital gains rate. Many of those people will be buying back in the new year, which should give the Nasdaq strong support. |
| | Buy and Sell Signals, and Other Market Perspectives | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (3) |
|
| To: Qualified Opinion who wrote (42985) | 1/1/2013 10:13:12 PM | | From: Mr. Aloha | | | | After congress voted to raise the debt ceiling on August 2, 2012, the credit rating agencies downgraded U.S. debt for the first time ever, yet the market continued to rally strongly for another month+.
I'd agree that debt downgrades will be negative for the economy, but that shouldn't be a reason to stay short in the face of a relief rally if the fiscal cliff vote passes. IMO, the time to short will be after the resulting rally, which could last quite a while. |
| | Buy and Sell Signals, and Other Market Perspectives | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: Qualified Opinion who wrote (42989) | 1/1/2013 11:10:32 PM | | From: Wayners | | | | They kicked the can. Should result in a debt downgrade.
By a vote of 257-167 the House has passed HR 8, the Tax Relief Extension Act, which the Senate passed early Tuesday morning by a vote of 89 to 8. The bill will now be sent to the President for his signature. The so-called "fiscal cliff" agreement had been negotiated Monday between Senate Minority Leader Mitch McConnell (R-KY) and Vice President Joe Biden. The legislation keeps the Bush era tax cuts for individuals making less than $400,000 and couples making less that $450,000. It also makes permanent the fixes for the Alternative Minimum Tax and delays government spending cuts for two months. In the House 85 Republicans and 172 Democrats voted for the bill, while 151 Republicans and 16 Democrats voted against the bill. |
| | Buy and Sell Signals, and Other Market Perspectives | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (2) |
|
| To: Joseph Silent who wrote (42991) | 1/1/2013 11:25:39 PM | | From: Wayners | | | | | I see no credible deficit reduction whatsover, in fact there is a credible deficit increase from giving unemployment out forever and ever. The video games sure produce a lot and they deserve it!. Everybody will buy tomorrow, followed by a devastating debt downgrade as promised by Fitch. |
| | Buy and Sell Signals, and Other Market Perspectives | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: Wayners who wrote (42992) | 1/1/2013 11:40:04 PM | | From: Joseph Silent | | | | I leave the convolutions and logic to you guys. But it should be clear that Fitch and S&P are as crooked as the
rest of 'em (or have you forgotten?) and markets go up in the face of downgrades, once the confusion has been used to someone's advantage.
Life's a Fitch to be on the wrong side of a hard-to-predict market. Logic doesn't have a great track record with prices. If it did, everything would be automated, and wires would come out of pointy-headed skulls. Now all that comes out is noise. Noise can be helpful. |
| | Buy and Sell Signals, and Other Market Perspectives | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| |
