Dow ends best 6 weeks since 1938

[Andy9o8 0]

Not that this is a burning issue to me - of course, it takes years, not weeks, to see how this plays out in the long term - but there have been 2 recent "Dow is down; Oh My God!!" threads in SC recently, so I thought I'd toss this in here for a little balance.


http://news.yahoo.com/s/nm/20090417/bs_nm/us_markets_stocks

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Dow ends best 6 weeks since 1938 on econ hopes
By Ellis Mnyandu Ellis Mnyandu
Fri Apr 17, 6:08 pm ET

NEW YORK (Reuters) – Stocks rose on Friday, with the Dow scoring its biggest six-week gain since July 1938, helped by a reassuring report on the mood of consumers and stabilization in General Electric (GE.N) and Citigroup's (C.N) quarterly results.

The Dow is up 22.7 percent over the past six weeks, making this the largest six-week gain since July 29, 1938.

Friday's close also marked the S&P 500's longest weekly winning streak since 2007.

The Reuters/University of Michigan survey showed that U.S. consumers have more confidence in the economy than they have had since the sudden collapse of Lehman Brothers in September, the latest in a spate of data suggesting the economic slump may be easing.

GE and Citigroup both posted better-than-expected results, lifting the broader market, and bank stocks rallied as investors bet other financial companies could follow up with more news showing the sector is on the mend.

Among banks, shares of Bank of America (BAC.N), due to post quarterly results on Monday, climbed 2.5 percent to $10.60. The KBW Bank index (.BKX) climbed 3.4 percent and has come close to more than doubling since its March lows. GE shares gained almost 1 percent to $12.39.

[georgerussia 0]

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Not that this is a burning issue to me - of course, it takes years, not weeks, to see how this plays out in the long term - but there have been 2 recent "Dow is down; Oh My God!!" threads in SC recently, so I thought I'd toss this in here for a little balance.

I really wonder why when Dow is down 4%, all the media are screaming about it. But when Dow is up 4%, almost no one mentions it. Is the society so hungry on negative news?

* Don't pray for me if you wanna help - just send me a check. *

[n23x 0]

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Is the society so hungry on negative news?

Please select one:

A.) Does a cat have an ass?

B.) Does a bear shit in the woods?

3.) Does the pope wear a hat?

.jim

"Don't touch my fucking Easter eggs, I'll be back monday." ~JTFC

[georgerussia 0]

Unfortunately I have no idea what it should mean.

* Don't pray for me if you wanna help - just send me a check. *

[Amazon 7]

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Unfortunately I have no idea what it should mean.

"If it bleeds....it leads"

[tonyhays 86]

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Is the society so hungry on negative news?

Please select one:

A.) Does a cat have an ass?

B.) Does a bear shit in the woods?

3.) Does the pope wear a hat?

.jim

4) Is a frogs ass water tight?

5) Does a one legged duck swim in a circle?

“That which can be asserted without evidence, can be dismissed without evidence.”

[kelpdiver 2]

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Not that this is a burning issue to me - of course, it takes years, not weeks, to see how this plays out in the long term - but there have been 2 recent "Dow is down; Oh My God!!" threads in SC recently, so I thought I'd toss this in here for a little balance.

I really wonder why when Dow is down 4%, all the media are screaming about it. But when Dow is up 4%, almost no one mentions it. Is the society so hungry on negative news?

How do you mean? I see headlines for either daily event. While the nightly news is a bit more likely to report the negative circumstance, certainly they often report the bouncing days too, just not as the lead in story.

[georgerussia 0]

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How do you mean? I see headlines for either daily event.

Where?

* Don't pray for me if you wanna help - just send me a check. *

[philh 0]

Scares sell papers, everything=ok doesn't.

[JohnRich 4]

That's a highly misleading thread title. It implies that the DOW indicator is at its highest point since 1938. That is extremely untrue. It's still 28% below the high point last year.

Look at the attached chart.
That tiny little up-tick at the end means nothing.
Look at what has happened in the last year.
Look at where we are now, compared to since 1997.
The DOW is still in the dumps.

[Andy9o8 0]

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Stocks rose on Friday, with the Dow scoring its biggest six-week gain since July 1938, helped by a reassuring report on the mood of consumers and stabilization in General Electric (GE.N) and Citigroup's (C.N) quarterly results.

The Dow is up 22.7 percent over the past six weeks, making this the largest six-week gain since July 29, 1938.

[JohnRich 4]

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The Dow is up 22.7 percent over the past six weeks, making this the largest six-week gain since July 29, 1938.

And it just lost most of that this morning (see attached).
Don't declare victory yet.

http://finance.yahoo.com/news/Wall-Street-slides-as-apf-14973082.html

[Andy9o8 0]

Damn. I knew the world was going to hell. Oh, well; back to stocking-up.

[billvon 2,426]

>I really wonder why when Dow is down 4%, all the media are screaming
>about it. But when Dow is up 4%, almost no one mentions it.

[standard SC response]
MEDIA BIAS! When the lying [liberal/conservative] media sees any tiny bit of bad news about [my guy] they put it on the front page, but when this one good thing happens, they hypocritically suppress the news! Good to see that their partisan agenda is finally revealed for all to see.

[/standard SC response]

[Capt.Slog 0]

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The Dow is up 22.7 percent over the past six weeks, making this the largest six-week gain since July 29, 1938.

And it just lost most of that this morning (see attached).
Don't declare victory yet.

http://finance.yahoo.com/news/Wall-Street-slides-as-apf-14973082.html

Right now , Dow is down 3.12%

Since when is 3.12% "most of" 22.7%?

[JohnRich 4]

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The Dow is up 22.7 percent over the past six weeks, making this the largest six-week gain since July 29, 1938.

And it just lost most of that this morning (see attached).
Don't declare victory yet.

Right now , Dow is down 3.12%
Since when is 3.12% "most of" 22.7%?

3% of the total, is not the same as losing 230 points out of the gain of the last few weeks.
The gain is but a subset of the total.
College professors realize such things.
If it bothers you that much, substitute the words "a lot" if you wish.

[Capt.Slog 0]

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The Dow is up 22.7 percent over the past six weeks, making this the largest six-week gain since July 29, 1938.

And it just lost most of that this morning (see attached).
Don't declare victory yet.

Right now , Dow is down 3.12%
Since when is 3.12% "most of" 22.7%?

3% of the total, is not the same as losing 230 points out of the gain of the last few weeks.
The gain is but a subset of the total.
College professors realize such things.
If it bothers you that much, substitute the words "a lot" if you wish.

On March 2, 2009 the Dow was 6763.29
Right now (2:39ET) it's 7859.65

So it's still UP over 1050 points (16.2%) since March 2.

We know you want the economy to fail under Obama - all DZ.COMmers realize this.

Don't declare defeat yet.

[JohnRich 4]

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On March 2, 2009 the Dow was 6763.29
Right now (2:39ET) it's 7859.65
So it's still UP over 1050 points (16.2%) since March 2.

The DOW was at 14,000 in 2007.
Now it's 7,859.
So it's still DOWN over 6,000 points (42%) since 2007.

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We know you want the economy to fail under Obama

I haven't mentioned his name once in this thread. I've been keeping it apolitical. But I knew someone wouldn't be able to stand that for very long. Congrats on winning the "partisan poster of the day" award!

[kelpdiver 2]

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The DOW was at 14,000 in 2007.
Now it's 7,859.
So it's still DOWN over 6,000 points (42%) since 2007.

John - no one outside the layman press uses the DOW as the benchmark anymore. It's particularly inaccurate now due to its heavy financial weighting. The S&P500 is a much more suitable index to use for these discussions.

The fact that people engaged in profit taking today really says nothing about the overall validity of this run. We see +/- 3% days all the time now. You need a full week to mean something.

No one knows if this is a real rally or a suckers rally. But the eventual one is going to look very similar, so those 'smart' people who pulled all their money out are likely to miss the first 20%.

[JohnRich 4]

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John - no one outside the layman press uses the DOW as the benchmark anymore.

It wasn't I who started this thread about the DOW. I just chimed in to tell the rest of the story, because the original was looking awfully biased. And thank you for contributing some rational information on the subject.

[Amazon 7]

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John - no one outside the layman press uses the DOW as the benchmark anymore.

It wasn't I who started this thread about the DOW. I just chimed in to tell the rest of the story, because the original was looking awfully biased. And thank you for contributing some rational information on the subject.

Thank you Paul Harvey

[DougH 270]

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The DOW is still in the dumps.

In the dumps if you bought in during the bubble. For people that bought some of these bargain deals it isn't looking so bad.

You want to sell off investments on histeria, I am all for it, makes for good buying opertunities.

"The restraining order says you're only allowed to touch me in freefall"
=P

[kelpdiver 2]

1.95% rise today. The game continues.

Unfortunately, my employer restricts my action - I have to hold equities for 60 days, which takes away a lot of the potential (or danger) in short term trading.