[gOOber]

 
Rich people are getting richer, yay!

[DruulEmpire]

Don't know how long I'll be coming back here, so a possibly final note:

Today we end March 2013 in market time.  The Dow is up 8000 points from its low of March 2009.  That's also an additional 122%.  No doubt Q_BE still wants to wash his hands of all that, wherever he is.

I don't anticipate quite the same for the future, as I'm inclined not to see the Dow hit 22,222, or even 20,000, by 2017.  Still, you never know. 

[DruulEmpire]

Holy proverbial mackerel.  Barely a quarter hour into this Friday and the intra-day shot up as high as 14990.  We'll see how this all settles out ...

Now it's before noon EST, and the intra-day once hit 15009 ...

Aaand ... we've just passed what I offered two months ago as a ceiling for next year.  14900?  Ha.  The close today was at 14973.

I've got that nervous feeling, like the one I had way back when we went soaring up to 14164 back in 2007 and I thought, Nah, we're not getting out this easy, we're due to fall back -- and we did, with a vengeance.  I don't think it will be that big or that deep, just a long dragged-out ongoing nuisance.

Ever get the feeling that so much of our society is one big celebration party when there's really not that much to celebrate?  That's what I'm starting to feel antsy about.

PS: say, bignats, should anything happen to me, want to take over as prognosticator?  

[pedonbio]

Druul, it is indeed interesting.

I leave it up to you young guys, but I want to make note of a sea change I have seen happen during the 40+ years I have had bucks at risk in the market. It used to be possible to examine a particular stock in light of its national circumstances. The price of shares of a small, East Coast electric utility like Pepco Holdings (or its constituent parts) used to respond to things like local development, local industrialization, and national interest rates. Of course, major world events, like the Great Depression or even the Korean War, would cause price shifts; but the price of Greek bonds or Spanish interest rates wouldn't. So if I wanted to guess which direction the price of Pepco shares would go over the next year, I didn't need to analyze Sino-European conditions. Now it is necessary.

[pedonbio]

NPR has a program called, I think, "Radiolab", which did a feature on the computerization of NYSE trading. It has certainly affected the market; much of the time the market operates without human intervention.

[bignatslover]

Ever get the feeling that so much of our society is one big celebration party when there's really not that much to celebrate?  That's what I'm starting to feel antsy about. 

Yes, the roaring 20's come to mind here.  It sounds to me sir as though you feel this market is finding its top.  I tend to agree.  I am calling for a random-rally to Dow 15,265 within the next ninety days.  But then there will be no fuel left.  Sideways market for the rest of the year.

[pedonbio]

  Sideways market for the rest of the year.

A rash prediction. I make no prediction where the Dow will be at the end of the year, but I am reminded of an old adage: Sometimes people predict the market will drift. Just remember, it never drifts up.

[DruulEmpire]

Bio, I dunno.  It feels like it's "drifting up" right now!  Like it's rolling its eyes, sighing listlessly, and moaning, "Oh, might as well head up, I've been everywhere else."

[gOOber]

The Dow Jones Industrial Average finished above 15,000 for the first time.Caterpillar and JPMorgan led the blue-chip gainers. The index first broke above the milestone on Friday.

Interestingly, the Dow also ended higher for the 17th consecutive Tuesday. This is the first time in history that the index has posted such a streak.

[pedonbio]

Caterpillar and JPMorgan led the blue-chip gainers.

Interesting in that JPMorgan management is facing a full-blown shareholder revolt.

[DruulEmpire]

Today's intra-day came within nine points of my next target (15551) before falling back off.

[DruulEmpire]

A month later, my choice of 15551 as a relatively pessimistic hurdle which would be a while coming has been vindicated.  We closed today at 14758 -- about 793 points short.

This thread doesn't feel the same for me anymore.  It reminds me of my last girlfriend: once very exciting, but now very easy to forget about.

[pedonbio]

Yes. Today the Fed announced that its policy of socialism for large banks may be diminished in the future. Wall Street immediately went into a shrieking panic.

[luvdemwhoppers]

I bought Apple and Cisco @ the ipo. Now I have beer money.

[bignatslover]

This thread doesn't feel the same for me anymore.

Very understandable, as following the market can be both maddening and disillusioning as well.  I hope that you will continue to post your thoughts from time to time, as they have not only been insightful but quite spot on.

Plus we need to see if it will continue to hold to my prediction of mostly sideways movement to a December close of 15,265.