Ship of Fools: 22,000

Thread: 22,000 Board: Purgatory / Ship of Fools.

To visit this thread, use this URL:
http://forum.ship-of-fools.com/cgi-bin/ultimatebb.cgi?ubb=get_topic;f=2;t=020248

Posted by Gramps49 (# 16378) on :

A magic number for the Dow Jones Industrials. Will likely be reached today.

Correction about to happen?

Posted by Sipech (# 16870) on :

Possible. The dollar has been weakening in the last week (I wonder why [Roll Eyes]

) so those companies that have overseas revenues but a USD cost base will see their profits boosted by FX. We had similar in the UK after the value of the pound collapsed following the Brexit vote; the FTSE 100 gained. Not because of increased confidence, though some tried to spin it that way. It was purely a currency matter.

Posted by Crœsos (# 238) on :

quote:
Originally posted by Gramps49:
A magic number for the Dow Jones Industrials. Will likely be reached today.

Correction about to happen?

There's nothing particularly more "magic" about 22,000 than there is about 21,999 or 22,001. I suppose it could be considered a milestone for the base-ten numeral system.

As for a correction, if you're on an upward trend every day is a new record, until it's not. Still, I'm rather forcibly reminded of Glassman and Hassett's greatest hit.

So what's Kevin Hassett up to these days, I hear you not asking? Well . . .

Posted by Crœsos (# 238) on :

By interesting coincidence yesterday was the tenth anniversary of the start of the collapse of Bear Stearns and, with it, the start of the most recent recession.

quote:
Two Cayman Islands-based Bear Stearns hedge funds that ran into trouble over risky investments connected to subprime mortgage loans filed for bankruptcy protection late Tuesday [July 31, 2017].

The two hedge funds, Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd. and Bear Stearns High Grade Structured Credit Strategies Enhanced Leveraged Master Fund Ltd, filed for Chapter 15 bankruptcy protection in the U.S. District Court for the Southern District of New York.

Posted by Huia (# 3473) on :

Hmmm, maybe I should hold onto the American $10 note I have.

Huia - big time currency speculator [Big Grin]

[ 03. August 2017, 06:58: Message edited by: Huia ]

Posted by Barnabas62 (# 9110) on :

Gramps49

Not sure what you wanted to discuss, could you clarify please?

Barnabas62
Purgatory Host

UBB.classic^TM 6.5.0