Hiding Bear Posted July 5, 2005 Report Share Posted July 5, 2005 Mark appears to be away, so let's get started. Benchmark indexes also climbed as Edward Keon, chief investment strategist of Prudential Equity Group LLC, advised investors to put all their money into U.S. equities. He raised his recommended weighting in U.S. stocks to 100 percent from 80 percent and cut bonds to zero from 20 percent. ``Equity markets represent compelling valuations compared to the bond and real estate markets,'' Keon wrote in a note today to clients. http://quote.bloomberg.com/apps/news?pid=1..._CKc&refer=home There you have it. Buy stocks because they are a better value than real estate. Keon explained on Bloomberg that not only are stocks a better value than RE (which I agree with) but the average stock yields more than the average corporate bond, so companies will buy back their stock. Not necessarily so. Maybe companies that have earnings could, but that eliminates about 99% of the companies on NASDAQ! Seriously, using an average earnings or average PE is misleading. Certain sectors such as energy, have low PEs, while Tech - of course - has high ones. It is quite possible that earnings on energy could advance while tech falls - yet average and total corporate earnings could go up. The Fed helped out a lot today with a mega repo blast, adding $14.5 billion. It is still unclear what they are up to, but it could have something to do with the G8, or the strong dollar, or just that the Fed wanted to show it was serious about raising rates last week but is still worried about the markets and/or economy. It will take a few more days to see what they are really up to. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted July 5, 2005 Report Share Posted July 5, 2005 Big move on OIH today, but Volume was 3.5 millions shares less...not sure what to make of this... Link to comment Share on other sites More sharing options...
FeedFool Posted July 5, 2005 Report Share Posted July 5, 2005 Click here Stoch looks bullish but it may not be Link to comment Share on other sites More sharing options...
LeeWhee Posted July 5, 2005 Report Share Posted July 5, 2005 Big move on OIH today, but Volume was 3.5 millions shares less...not sure what to make of this... <{POST_SNAPBACK}> If this is the blowoff, volume doesn't matter. I think OIH goes to 115-122 before an intermediate-term correx sets in. The blowoff, if it occurs, should be fast and furious---2-3 weeks in duration. Link to comment Share on other sites More sharing options...
Sudaca Posted July 5, 2005 Report Share Posted July 5, 2005 For those who missed the original IDS post: (BN ) *DEUTSCHE BANK HIRES HARLAN WAKOFF FROM JP MORGAN CHASE ...now check out dmm742's signature Link to comment Share on other sites More sharing options...
soup Posted July 5, 2005 Report Share Posted July 5, 2005 The govt is the root of all evil! Link to comment Share on other sites More sharing options...
Sudaca Posted July 5, 2005 Report Share Posted July 5, 2005 Ed Keon is going to make history. Right or wrong, he will be remembered forever. Link to comment Share on other sites More sharing options...
Sudaca Posted July 5, 2005 Report Share Posted July 5, 2005 HAIPU Wakoff & Dikshit Dominating The Headlines They Both Make Millions Link to comment Share on other sites More sharing options...
LeeWhee Posted July 5, 2005 Report Share Posted July 5, 2005 HAIPU Wakoff & Dikshit Dominating The Headlines They Both Make Millions <{POST_SNAPBACK}> Wakoff and Dikshit Millionaire and Billionaire Dikshit beats Wakoff Link to comment Share on other sites More sharing options...
wndysrf Posted July 5, 2005 Report Share Posted July 5, 2005 Sorry I was MIA today. Got one of those kidney stones and spent 5 hours in the emergency room today... Ughhhh.......... Link to comment Share on other sites More sharing options...
cwd Posted July 5, 2005 Report Share Posted July 5, 2005 Sorry I was MIA today. Got one of those kidney stones and spent 5 hours in the emergency room today... Ughhhh.......... <{POST_SNAPBACK}> I would guess you could tell us a good story about your visit to the ER. I hope you got some relief Link to comment Share on other sites More sharing options...
beardrech Posted July 5, 2005 Report Share Posted July 5, 2005 Click here Stoch looks bullish but it may not be <{POST_SNAPBACK}> Feed My read is that those little guys at the end are gravestone dojis and in the context(the variety of shadows previously shown)of your chart they seem to be very bearish-- Am I mistaken beardrech BD Why do you enjoy looking at these Candles? They remind me of those at incurably romantic dinners Link to comment Share on other sites More sharing options...
Tchaikofsky Posted July 5, 2005 Report Share Posted July 5, 2005 Close: Despite another surge in oil prices and a lack of support from bonds, stocks closed near session highs as strong factory orders and an upbeat outlook from Wal-Mart reiterated economic growth, helping every economic sector close to the upside... Just after the market opened, the Commerce Dept. reported a third consecutive monthly increase in factory orders (due largely to a surge in aircraft orders), as May orders rose 2.9% (consensus 3.0%)... Even though April's increase of 0.9% was downwardly revised to 0.7% and the data are rather predictable given the known surge in commercial aircraft bookings, the largest orders increase (May) in 14 months provided some reassurance that June orders could also be strong and that the second half of 2005 may be even better than the first half... Also helping to offset early weakness, and providing some direction to a market with little in the way of anything earnings-related heading into earnings season, was Wal-Mart's (WMT 49.80 +1.52) raised forecast for June comps growth of 4.5% (from 2-4%)... Wal-Mart's report, coupled with Walgreen's (WAG 46.70 +0.62) strong same-store sales gain of 7.8% for June, provided further evidence that, even in the face of higher gasoline prices, consumer spending remains on track to support real GDP growth of 3.0% or better... Anticipation of new fund inflows, especially since the first trading day of the month/quarter fell on a Friday prior to a holiday weekend, perhaps also acted as a contributing factor behind today's broad-based advance... Meanwhile, Energy paced the way higher for the second straight session, as oil prices hit the psychological $60/bbl level for the first time in over a week... ===================== Isn't that "surge" in aircraft orders, in fact, inflated by $6 billion or so in cancelled orders? Link to comment Share on other sites More sharing options...
odyssey-x Posted July 5, 2005 Report Share Posted July 5, 2005 I am reading all sorts of crazy RE stories like this one : Hawaii Bubble 2 and am starting to think that anytime the yield curve is not inverted there will be a huge flood of leveraged carry trade money flooding globally to any asset bubble that looks somewhat attractive. It used to be different, money would flow slowly out of the banks into the economy. Sure there were bubbles but there was paperwork, bureacracy, etc in between the fed and the market. Now the credit Tsunami floods out at an ever faster rate as derivatives and leverage pound any market distortion (i.e the yield curve) to smithereens. The economy is starting to consist of people running around with their surfboards (interest only payment option loans) looking for where the credit ocean is going to flood into next. Link to comment Share on other sites More sharing options...
Jorma Posted July 5, 2005 Report Share Posted July 5, 2005 Could someone give me a link to the daily Open Market operations. Either the actual announcement or a reliable summary. Link to comment Share on other sites More sharing options...
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