Stocks to Buy Today - Stock Message Board, Discussion Forum, Blog
Hi I figured we could have a thread to comment on general events, market movers, or just individual opinions on where the market may be headed.
I always have a lot of thoughts and I follow the news a lot so im sure ill be posting a lot in this thread.
NYSE volume was the 3rd lowest of the year so far today, Financials led the drop in stocks, Gold (and to a lesser extent Silver) was the story of the day as it exploded over $1780 intraday (now up over $55 in the last 3 days) although the USD did nothing .
The S&P 500 has had the best start to the year since 1997, and Gas Prices are accelerating rapidly. Two interesting analogs may be useful to think about the next moves in these markets and whether we see divergence
Well I think Wall St is net long stocks so if we have any sort of negative surprise, we will see heavy volume on the downside.
Today looks good though, oil is taking a break while stocks are in the green. A few more of these and oil won't be such a risk, at least in the short term
If Greece were to withdraw from eurozone membership (which is not our base-case assumption) and introduce a new local currency, we would reevaluate our T&C assessment on Greece to reflect our view of the likelihood of the Greek sovereign and its central bank restricting nonsovereign access to foreign exchange needed for debt service.
Translation: Greece better have that PSI in the bag or else the "Selective" goes away and "Greece would face an imminent outright payment default."
First Selective Default of a Eurozone nation in history
Its kinda hard to believe all the good news about the economy getting better since here in Northern CA things seem to be getting worse. The city I live in was downgraded by Moodys and may take the first steps in filing for Chapter 9 bankruptcy tomorrow. Haha If it happens we will be the largest city to declare bankruptcy in American history.
Unemployment around here is about double the nations rate and lots of jobs are still being cut including the US post office shutting down their processing center.
So how are the cities you guys live in seem to be doing? Are things really getting better and California is just screwed up. Haha