Dow hits record high

[Art]

What's that mean? Is that bad?:D

http://articles.moneycentral.msn.com/Investing/CNBC/Dispatch/061003markets.aspx?GT1=8689

[PhilpotHunter]

It means I'm buying high right now.....:D

[raktrakr]

I'll take my chances at the river boat

[killinmammals]

it depends on how long it stays up at or near record levels. It wasn't much more than the previous record. I sure wish I had actually bought into some of the stocks I have for my economics classes. I would've done alright.

[Wildcat]

I for one think it's incredible that we've made it that high since the last record back in 2000.

Look what we've come though in the past 6 years.

9/11/2001, the World Trade Center was brought down in the worst terrorist attack on America costing billions of dollars.

For the first time in US history the air space over the country was closed for several days to all airplanes, also costing billions.

Billions was spend on homeland security every year since 2001.

We went to war in two countries to finally carry the war to the terrorist and clear them out.

We have been though several of the worst fire seasons on record and this year might top them all.

For the first time in American history a entire city was taken out by a hurricane. Not only was New Orleans brought to it's knees with more than half the city wiped out but several smaller cities along the coastline of two states were wiped out. Hurricanes have hurt us before but nothing like this.

We put up with $3.00 gas, while not a record to the late 70's it was still close and cost the people billions.

We've seen the raise of China and India fast becoming enconomic powers in their own right.

We've had to go though an open border where 12 million illigals have sliped though and are a drain on us in some parts.

We had Enron and other big Dow companies get caught in illegal business dealings and because of that had investors pull out and others go broke.

We saw the Dot.Com bubble bust and millions lost in the market.

Yet with all that we've been able to go right though and set a new record.

Any one of those things we've been though in the past 6 years would have brought any other country to it's knees. But not the United States, we've done them all and are still going strong. Ever after all that the United States still has the very best economy in the whole world.

Some people want us to beleive our economy is in the dumps and heading down a slide to the worst in history. The funny thing is they've been saying it for 6 years.

[PhilpotHunter]

I read a good article in Kiplingers about how the market is not reacting to bad news the way it normally would, due to being in a kinda shell shock from 9/11. I'll try to see if it is on there website...

[PhilpotHunter]

It doesn't look like it was available on there website.....

The Price of Terrorism Opening Shot, by James K. Glassman


Basically it said that when 9/11 happened, the market reacted like you would expect, and then just kinda flattened out. Not to no growth, just alot of the large cap stocks just started treading water. He compared it to back at the end of WWII. If you compare how the market reacted to things sense 9/11 it is strange. When something bad happened, barely a blip on the market. Things that would normally send the market into tail spins just kinda didn't show up on the radar screen at all. For instance the subway bombings, or high oil prices, or even the turmoil in the middle east. Barely a blip.
His reasoning is that investors are prepared for, even expecting the worse to come along. So when it does come along, its no suprise. This is good and bad, good because there is no huge reactions, bad because the market isn't growing like its potential says it could be.

If anyone gets a chance to read it you should. Pretty interesting stuff.

[maxcam]

Its all Bush's fault ...Blame it all on him and the republican party!!!!!

BTW gas is 1.95 here in the ville and LGE is asking for a 43% cut in natural gas rates for this winter!

[Art]

I'm gonna catch hell for this from grouser68 and philpot but this whole gas issue has got me thinking a little bit. Now don't get me wrong, I understand that Bush in no way shape or form has control over oil and gas prices. I do however find it odd that oil has taken a dive during the pre-midterm election period.

I'll stop short of saying there is a political connection at this point, but if gas prices get wacky after the elections then I'm going to have to pull the conspiracy card.:D I just don't see what major issue(s) have lead to a huge drop in oil prices since August. Not much has happened, good or bad, that I can see that would account for the drop.

[grouser68]

I'm gonna catch hell for this from grouser68 and philpot but this whole gas issue has got me thinking a little bit. Now don't get me wrong, I understand that Bush in no way shape or form has control over oil and gas prices. I do however find it odd that oil has taken a dive during the pre-midterm election period.

I'll stop short of saying there is a political connection at this point, but if gas prices get wacky after the elections then I'm going to have to pull the conspiracy card.:D I just don't see what major issue(s) have lead to a huge drop in oil prices since August. Not much has happened, good or bad, that I can see that would account for the drop.

Too funny Art! Truthfully, none of us on here, or anywhere know enough about any of this to be experts. That includes, politics and and all the good and bad that happens.All we have are our feelings, and opinions! And boy do we have alot of those!:D

For the ones that come off seemingly to know it all, and have an answer for everything, know no more than my 4 year old niece, but to their credit.....she's a pretty smart kid!:D

[Art]

All I know is that I don't know why the gas prices do what they do, but I sure do like the path they have taken. I have been planning all along for a couple of hurricanes and 5$/gal gas this fall since last year. What a pleasant surprise. I just wish diesel would drop as much as gas has.

[grouser68]

All I know is that I don't know why the gas prices do what they do, but I sure do like the path they have taken. I have been planning all along for a couple of hurricanes and 5$/gal gas this fall since last year. What a pleasant surprise. I just wish diesel would drop as much as gas has.

I too am glad the prices finally went down here! I filled up Sunday before last in Mt. Sterling heading toward Wi. It was $1.95, when I got to Wi. it was $2.47 I don't understand the fuel industry, was so low here and so high there? The cheapest I saw it on the way back was $1.99 on mile marker 135 in Ohio, thats always the cheapest place in Ohio along I75.

[trust me]

The thing to remember about the stock market is that the whole deal is a psychology game. It doesn't matter if there is war or bombings or hurricanes; what matters is what the people think is going to be the result. Your decision and my decision to buy or sell is the determining factor. Sometimes we act like lemmings and we all rush to one conclusion or the other. And sometimes, we grow thick skin and don't let the day's headlines influence our decisions. That seems to be where we are now.

If you like a stock, and it has good numbers, buy it and keep it and let your research carry the day, not the day's headlines.

Just remember that every time you buy a stock and think you are so smart, on the other side of the deal is some guy that breathes a sigh of relief that some dumb sucker (you) bought that turd and took it off his hands.:D

[quackrstackr]

Trust me nailed that one.

Same reason that oil and gas is doing what it's doing right now. It's traded as a commodity and there was a huge push driven by speculators thinking the supply was going to dry up and the price was fixing to go out of site. It snowballed up to a price it couldn't sustain (by sucking in tons of investors looking to make a big score) and is now crashing back to reality.

I posted a Forbes article predicting that very thing back when it first went through the roof.... only he though it would go a bit higher and then crash way back to prices we haven't seen in years.

[PhilpotHunter]

Art, I'm so proud of you:D

[slickhead slayer]

Trust Me and Quackr nailed it.

Oil is a publicly traded commodity. Which means that sometimes nothing has to happen for it to go up or down. As they both eluded to, the key word is SPECULATION.
People speculate on whats going to happen. Sometimes their speculation is right, sometimes wrong.
Heard on the radio yesterday about a hedge fund that lost over $5 billion on natural gas. They banked on it going up again, and took it in the chops.

The bad news on all of this, is that OPEC came out this week and said they were cutting production because oil prices had dropped so low.:mad:

When OPEC cuts production, prices ALWAYS go up, just a matter of how much. Its the main reason we HAVE to get less dependent on foreign oil.

Oil is a commodity that is a little diff than other commodities. It relies on supply and demand, but sometimes that supply and demand is artificial because of OPEC. OPEC has a huge say in the supply of oil, and thats not a good thing. They can and do manipulate prices.

[slickhead slayer]

On another note, as Wildcat said, its truely amazing that the economy is doing as good as it is, considering all this country has gone through in the last 5 years.

[grouser68]

All I know is that I don't know why the gas prices do what they do, but I sure do like the path they have taken. I have been planning all along for a couple of hurricanes and 5$/gal gas this fall since last year. What a pleasant surprise. I just wish diesel would drop as much as gas has.


Answer this one Art: Ok, we(military) have a duece and a half, and probably other vehicles that can run on either diesel, gas, mogas,jp8, and probably any other fuel.The deuce has been around since WW2, when they started making them to run on everything, I don't know. Why in this world can't there be a vehicle made for the public that does the same? You would love it if your diesel could do that would'nt you, then you could just go with whatever was cheaper at the time of fillup.


BTW, Dow hit another high yesterday!

[Art]

Answer this one Art: Ok, we(military) have a duece and a half, and probably other vehicles that can run on either diesel, gas, mogas,jp8, and probably any other fuel.The deuce has been around since WW2, when they started making them to run on everything, I don't know. Why in this world can't there be a vehicle made for the public that does the same? You would love it if your diesel could do that would'nt you, then you could just go with whatever was cheaper at the time of fillup.


BTW, Dow hit another high yesterday!


I don't think there would be much of a need for that IMO. I doubt gas stations would be falling all over themselves to add jet fuel pumps, ect. Plus you have to realize that people are already too stupid to get it right with just 2 basic kinds of fuel. The deuce 1/2 was obviously created to run in a pinch on whatever it could find without cost being a factor. There's not much need for auto's to do that, plus I would bet that gasoline is the cheapest, most efficient fuel there is for passenger vehicles at this time.

I think it's funny that diesel is now significantly higher than gas and all of a sudden manufacturers are talking about bringing out mnay new diesel models??? Where the hell were they 10 years ago when diesel fuel was much cheaper?