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(Marketwatch)   Dow Jones Industrial Average to Tower: We're at 19,950 and have a visual sighting of 20,000. Request permission to land   (marketwatch.com ) divider line
    More: Spiffy, Dow Jones Industrial, Jones Industrial Average, Dow Jones Industrial Average, President-elect Donald Trump, Trump administration, high-yield dividend stocks, Biotech ETF BBH, S&P Biotech ETF  
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408 clicks; posted to Business » on 11 Jan 2017 at 11:23 PM (8 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



40 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2017-01-11 05:39:30 PM  
Negative Koch Brother
 
2017-01-11 05:42:34 PM  
Sell high.
 
2017-01-11 05:58:53 PM  
Every time I go into $CLIENT's cafeteria, they have on Fox Business and for the past two weeks when I went in they had the DJIA up.

/TVs were off today
//really enjoyed lunch
 
2017-01-11 06:17:17 PM  
Statistically irrelevant benchmarks are so exciting!
 
2017-01-11 08:17:15 PM  

czmilosz: Negative Koch Brother


The pattern is full.
 
vpb [TotalFark]
2017-01-11 09:39:54 PM  
See, the Donald haven't yet ascended to the throne and already he is making Murka great again!
 
2017-01-11 09:52:35 PM  

vpb: See, the Donald haven't yet ascended to the throne and already he is making Murka great again!


Yeah, I love the trumpsters saying how this just proves that Trump is the right man for the times, because the scions of Wall street are putting so much confidence in him.

Of course, these are the same Wall street people that rode the Tech bubble of the late nineties off the cliff, and the Housing bubble of the mid 2000s off that cliff also. but hey, third times the charm, right?
 
2017-01-11 10:04:18 PM  
I sold some of my stock to pay off student loans.
 
2017-01-11 10:57:54 PM  
Crash, goddamnit. I'm only in my early 30's and need to make my IRA contribution.
 
2017-01-11 10:58:38 PM  
So Wall Street is jizzing its pants over Trump so much, it's going to break 20,000?

That's cute.

media.ycharts.com
 
2017-01-11 11:54:16 PM  
Trump Tower to DOW, head on down!
 
2017-01-12 12:10:01 AM  

PC LOAD LETTER: So Wall Street is jizzing its pants over Trump so much, it's going to break 20,000?

That's cute.

[media.ycharts.com image 590x371]


Hey, Einstein, your chart ends at the beginning of 2015.
 
2017-01-12 12:18:01 AM  

vpb: See, the Donald haven't yet ascended to the throne and already he is making Murka great again!


No no, this is the Bush recovery finally paying off. It just took awhile to get going.
 
2017-01-12 12:22:03 AM  
Shouldn't that wealth be trickling all over my face by now?
 
2017-01-12 12:29:06 AM  
I remember people going apesh*t when it hit 2000.
 
2017-01-12 12:38:46 AM  
not yours
 
2017-01-12 12:40:36 AM  

Billy Liar: I remember people going apesh*t when it hit 2000.


It was 6,626 when Obama took office.


That bastard.
 
2017-01-12 12:48:33 AM  
We're a lighthouse.

Your call.
 
2017-01-12 01:26:37 AM  

Billy Liar: I remember people going apesh*t when it hit 2000.


Wow you're old.  Sadly I am too.

/Remembers 1986 crash
//waiting for next 20% crash so I can afford to invest.
 
2017-01-12 02:23:11 AM  
I'll say it'll top around 22,000. Then comes the crash. I'll rebalance my IRA when it gets there.

/Probably moving most of mine to bonds
 
2017-01-12 02:53:46 AM  

cretinbob: It was 6,626 when Obama took office.


Actually it was 7,949.09 on the day Obama's first term began, January 20, 2009. It hit its low of 6547.05 on March 9 of that year, and has been on a fairly steady upward trend since then. The recent uptick that Trump is taking credit for is just a continuation of that upward trend.

DJIA Trends
 
2017-01-12 04:18:02 AM  

Billy Liar: I remember people going apesh*t when it hit 2000.


Oops, sorry about that...
*ziiip*
 
2017-01-12 04:19:43 AM  

Kimyo: Billy Liar: I remember people going apesh*t when it hit 2000.

Oops, sorry about that...
*ziiip*


Huh??? I clicked on respond to a different post.
 
2017-01-12 04:55:55 AM  
Futures are red and most of Asia and Europe are too FWIW.

I'm not convinced this isn't the top. Might break 20,000 but this bull is way long in the tooth and if believe tea leaves there's a major convergence of fibonacci ratio going to occur in about a week.  70% chance of a pull back when it happens.  Whether that's the start of a new bear, who's to say.  Personally I think it depends on how earning season plays out and major companies start reporting soon.

I see nothing wrong with taking some money off the table at this point.
 
2017-01-12 05:25:25 AM  

dericwater: I'll say it'll top around 22,000. Then comes the crash. I'll rebalance my IRA when it gets there.

/Probably moving most of mine to bonds


Be careful with bonds.  If the Fed really does start raising rates (not a given seeing how dovish they've been up to now) you'll end up taking a haircut.
 
2017-01-12 05:28:31 AM  
My check won't change at all.
 
2017-01-12 06:48:31 AM  

relaxitsjustme: dericwater: I'll say it'll top around 22,000. Then comes the crash. I'll rebalance my IRA when it gets there.

/Probably moving most of mine to bonds

Be careful with bonds.  If the Fed really does start raising rates (not a given seeing how dovish they've been up to now) you'll end up taking a haircut.


stick them in money markets?
 
2017-01-12 07:08:41 AM  
The DOW is silly. What is it, 30 companies all of which are counted equally in the average regardless of market cap?
 
2017-01-12 07:11:50 AM  

dericwater: relaxitsjustme: dericwater: I'll say it'll top around 22,000. Then comes the crash. I'll rebalance my IRA when it gets there.

/Probably moving most of mine to bonds

Be careful with bonds.  If the Fed really does start raising rates (not a given seeing how dovish they've been up to now) you'll end up taking a haircut.

stick them in money markets?


Not a bad place to put your cash, if the other option is under your mattress. I think you may get a bit more interest from your mattress, but it's not FDIC insured.

Take a look a Treasuries or Commercial Paper if you want to hold for onto it for a bit as you wait to see what the bond markets do.

/My advice, take it with a giant grain of salt
//YMMV
///Third slashie does not endorse the opinions of the poster. If you follow poster's advice and actually make some money, please buy him a beer to share the wealth.
 
2017-01-12 07:48:58 AM  
Not gonna happen till after inauguration.  Watch.
 
2017-01-12 08:06:29 AM  
Getting frothy.  It's nice that wages are up, but that's not going to be good for profits.  I'm dollar-cost-averaging with 25 years until retirement though, so I don't really care.
img.fark.net
Current S&P 500 PE Ratio: 26.18 +0.07 (0.28%)
4:09 pm EST, Wed Jan 11
Mean:15.63
Median:14.64
Min:5.31(Dec 1917)
Max:123.73(May 2009)

As a sidenote, remember how every moron on Fark spent the last 8 years linking zerohedge articles that were predicting the imminent collapse of the market?   Zerohedge doesn't do that anymore.  They mostly talk about how unfair the "globalists" are being to Trump and about crime in Chicago.  Funny how that is.
 
2017-01-12 08:17:59 AM  
I wish there was some term to describe a market that is vastly overinflated and likely to burst soon like some sort of bubble.

It's like the values are being intentionally inflated in preparation for that crash so some rich people can get richer.
 
2017-01-12 08:32:10 AM  

ilikestuff: The DOW is silly. What is it, 30 companies all of which are counted equally in the average regardless of market cap?


No, it's actually worse -- they're weighted based on share price, which is absurd.

However, considering it's a committee-selected group of 30 companies with a ridiculous weighting scheme, it tracks the S&P 500 well enough over time. Yes, the S&P is a vastly better index, but given the Dow's cultural familiarity it's really not that bad.
 
2017-01-12 08:39:16 AM  
I'm enjoying the gains on my stock heavy 401k, but I'm pretty damn tempted to dump all of those mutual funds soon and park it all somewhere less risky for the ride down. Can always pick the shares back up when prices start coming back up from the floor. At least then I won't lose most of what I've put in.
 
2017-01-12 08:46:02 AM  
Thanks, Obama.
 
2017-01-12 09:14:11 AM  

PC LOAD LETTER: So Wall Street is jizzing its pants over Trump so much, it's going to break 20,000?

That's cute.

[media.ycharts.com image 590x371]


But Fark ExpertsTM (myself included) predicted a total collapse of the world economy the morning after he won the election. So it is still a bit surprising.
 
2017-01-12 10:02:39 AM  

Land Ark: PC LOAD LETTER: So Wall Street is jizzing its pants over Trump so much, it's going to break 20,000?

That's cute.

[media.ycharts.com image 590x371]

But Fark ExpertsTM (myself included) predicted a total collapse of the world economy the morning after he won the election. So it is still a bit surprising.


everyone remembered they still had 90 days with obama. :) also upcoming tax cuts for the wealthy, who already own most of the stock
 
2017-01-12 11:57:31 AM  
A SECOND TRUMP HAS HIT THE TOWER

It's not going to crest 20k now.
 
2017-01-12 04:05:23 PM  

wejash: Statistically irrelevant benchmarks are so exciting!


Yeah, but it's an emotionally important threshold. Wait, isn't the vast majority of trading done electronically? Yes? Ok then. You are correct. It's an irrelevant benchmark.
 
2017-01-12 04:07:57 PM  

buzzcut73: I'm enjoying the gains on my stock heavy 401k, but I'm pretty damn tempted to dump all of those mutual funds soon and park it all somewhere less risky for the ride down. Can always pick the shares back up when prices start coming back up from the floor. At least then I won't lose most of what I've put in.


This is the thing everyone says when the market is hot. But few bulls have the balls to pull the trigger to sell everything and wait for the turn. Even then, of those who do, many will miss the bottom or lack the bravery to buy into a down market. Me, I say pick your asset allocation and re-balance every year and take it as it comes.
 
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