Stock Market

[irvinehomeowner]

I know we really don't talk about the non-housing economics much but what do you guys think about what's happening right  now?

 

[Irvinecommuter]

Uncertainty...no one knows what's going to happen with Europe or the global markets in general.

Companies are making tons of money but are just sitting on it.  I think Marketplace said that companies are sitting on $1 trillion in profits.

 

[gaab]

I think it was a sell the news event because

1. POMO ended, but that action has been telegraphed for months
2. GDP numbers revised downward, no surprise anyone that thinks the economy is getting better is not reading the news, layoffs continuing (unless you're in the wonderful world of Singapore) etc
3. Europe is a mess, again no surprise
4. Congress mis-handled the debt discussion, again no real surprise.  I really wish that the govt would think creatively about how to spend better, i.e. maybe reduce some of the 700 billion dollar military and re-purpose it to building America / reducing the debt

 

[morekaos]

Dug is the public today when it comes to the stock market

[youtube]http://www.youtube.com/watch?v=xrAIGLkSMls[/youtube]

 

[Liar Loan]

The market wants QE3 so after every Fed meeting Wallstreet has a gut wrenching day to send a message to Heli Ben.

 

[usctrojancpa]

The market wants QE3 so after every Fed meeting Wallstreet has a gut wrenching day to send a message to Heli Ben.

Once we get QE3 and/or Greece finally defaults, then it's time to start buying a bit....till then stay in cash and trade very nimblely.