More Great Economic News

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sandy

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The DOW and S&P 500 hit record highs again yesterday. The DOW hit 13,692 before closing at 13,668. This is the 26th record close for this year. Do you think it will break 14,000 soon?

Job creation, manufacturing and inflation injected the market with renewed confidence about the economy and sent major indexes to record closes.
THe S&P 500 moved toward its all-time trading high. Investors found reason for optimism in a stronger-than-expected jobs report for May.

http://biz.yahoo.com/ap/070601/wall_street.html?.v=47
 
I get the strange feeling this is going to be yet another one of those, 'why aren't illegal aliens our slaves and I am their Christian overlord' threads.
 
How about you quit following me around the board posting vile, offensive, strife-inducing, annoying personal attacks against me. :mad:
 
Sure, as soon as you stop posting vile, offensive, strife-inducing, annoying venom.
 
sandy said:
The DOW and S&P 500 hit record highs again yesterday. The DOW hit 13,692 before closing at 13,668. This is the 26th record close for this year. Do you think it will break 14,000 soon?

Job creation, manufacturing and inflation injected the market with renewed confidence about the economy and sent major indexes to record closes.
THe S&P 500 moved toward its all-time trading high. Investors found reason for optimism in a stronger-than-expected jobs report for May.

http://biz.yahoo.com/ap/070601/wall_street.html?.v=47
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MoneyPyramid.jpg
 
sandy said:
The DOW and S&P 500 hit record highs again yesterday.....
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Regarding this as "good news" only reflects your lack of understanding. About 6 months ago, on the occasion of another "high" I showed why this "high" is only nominal, not real, inn thread:

Dow is not at all time high - dollar going down"

See post 1 for details at:

http://www.sciforums.com/showpost.php?p=1166789&postcount=1

Elsewhere I have predicted the Dow will hit 1500 by end of 2007 or early 2008 as the dollar's collapse begins to accelerate. Obviously it takes more dollars to buy the stocks when each is worth less. DOW is stated in dollars, not true value.

BTW at the above link I state that my ADR (SBS stocker symbol) the Sao Paulo water / sewer company was up 600%. (That was back when the dollar would buy about 2.3 Brazilian Real). Well now the dollar only buys 1.94 Real and the ADR is up 800%, mainly because of the continuing drop in the value of the dollar.

Part of my gain (in dollars) is also due to fact than ever more intelligent and wealthy Americans are doing what I did more than 5 years ago. Namely, get their wealth out of dollars. That is, they are buying foreign stocks etc. usually via funds that target foreign stocks, not the ADRs I bought. Thus, I show considerable gain in Brazilian Real also as these later American buyers buy shares in the Sao Paulo water company etc. and all over the world. Many of my ADRs are Indian. (IBN, stock symbol for Indian bank ICICI) is up about 700% and the average of all is up 400%, but like the DOW this is in dollars and they are losing value.

I don't expect you to understand any of this, -just keep being so happy about the "good news" at least until the dollar gets so weak you can not afford gas for your car.
 
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So when your statement says you just made $160,000 on your portfolio vs. $140,000 on it last time, this is just a hallucination?
 
sandy said:
So when your statement says you just made $160,000 on your portfolio vs. $140,000 on it last time, this is just a hallucination?
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No, but the real gain is over stated in dollars. As I explained by edit while you were posting, there is both the real gain that long term average in stocks usually show everywhere (US included) PLUS the buying by smart Americans making extra demand on the buy side as they get their money out of dollars. (assuming you are asking about an account like mine that is mainly linked to foreign companies.)

BTW, I do own quite a few early stage drug development companies in the US. These are all "long shots" with huge risk and a few will give huge rewards. The risk of the continued drop in the dollar is "Small peanuts" compared to their drug failing to get to market, so not much of a factor, and that is not the only enormous risk already factored into the price. For example, I owned a company called "eyetech" a few years back. It was first to market a drug (called MacaGen if memory serves) that arrested macular degeneration (some times even slightly improved their vision). Rich people were very willing to pay the $995 per shot every 6 weeks to keep from going blind. Then another company's cheaper to make drug (avastan) for cancer came out and was used "off label" by eye doctors to replace MacaGen.* eyetech fell greatly in value and was bought by OSI pharmapesudicals - worse move they could make,but helped me get out with only a 60% loss. I no long own any OSI so do not follow it much but think they have written off MacaGen as a total loss. I have had good luck also. Two other companies I also owned KOSS & SRNA were acquired at preimums of nearly 100% over market and I already had more than 100% profit as I spotted their potential well before Merck and Abbot labs did.

I hold the early stage drugs more because it motivates me to (via the internet) listen to their latest presentations and I love to learn. It is truly amazing what is happening in the drug development area. It is nice that thus far I have been lucky enough to make a nice rate of return overall, but I "work" at it by trying to hear presentations and understanding both the market potential and the potential of their approach to the major medical problem. (Work is in quotes because I do not do anything at my stage in life that I do not really enjoy.)
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*Both work by "hitting" VEGF (vascular endophilia growth factor) receptors on the cell walls (Solid cancers need to rapidly grow new blood vessels and without their abnormally high number of receptors for VEGF they can not grow much. Macular degeneration is basically the excessive growth of blood vessels in the fovia area, so it was very logical for eye doctor to see if it would help with this problem also and it did, slightly better than Macagen, which by design hit only one of the 6 different types. - Eyetech did very good science to find which one to go after, without stopping almost all growth of new blood vessels.)
 
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sandy said:
So when your statement says you just made $160,000 on your portfolio vs. $140,000 on it last time, this is just a hallucination?
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Are you also, at the same time, making allowances for a drop in purchasing power?
 
sandy said:
So when your statement says you just made $160,000 on your portfolio vs. $140,000 on it last time, this is just a hallucination?
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No, Sandy, it's a sure sign that you should begin hating America and Americans ...just like everyone else on this site!

Repeat after me: "Making money is a bad, bad thing." Say it several times, over and over, then you'll soon be hating America just like all the others around here. :D

Baron Max
 
Baron Max said:
No, Sandy, it's a sure sign that you should begin hating America and Americans ...just like everyone else on this site!
Repeat after me: "Making money is a bad, bad thing." Say it several times, over and over, then you'll soon be hating America just like all the others around here. :D

Baron Max
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I think you have their thinking figured out. Even if everything in the world was perfect they'd still be b!tching. Funny how being rich is bad for Reps but ok for liberals.:rolleyes:
 
sandy said:
I think you have their thinking figured out. Even if everything in the world was perfect they'd still be b!tching. Funny how being rich is bad for Reps but ok for liberals.:rolleyes:
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I wish that I could afford the ear of Bush the second. I'd ask, "is it your favorite philosopher who recommended invading and exterminating all who defy us, crying out justice but seeking out triumphs? Wasn't your christ unbeloved of empires?"
 
Baron Max said:
No, Sandy, it's a sure sign that you should begin hating America and Americans ...just like everyone else on this site!

Repeat after me: "Making money is a bad, bad thing." Say it several times, over and over, then you'll soon be hating America just like all the others around here. :D

Baron Max
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Or rather "Killing innocent non-american people for the sake of money is a bad, bad thing" :bugeye:
 
sandy said:
I think you have their thinking figured out. Even if everything in the world was perfect they'd still be b!tching. Funny how being rich is bad for Reps but ok for liberals.:rolleyes:
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People hate america because america craps on the world for their own profit. :bugeye:
 
This stock rise really just boggles my mind. I mean the U.S dollar is tanking....no it's in a shit spewing flatspin. WTH is going on here? Can any on on the board with good knowledge of markets explain?
 
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