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re: Time to put some more in the market on the heels of sequester fear?
Posted on 2/25/13 at 3:22 pm to TJG210
Posted on 2/25/13 at 3:22 pm to TJG210
quote:
Time to put some more in the market on the heels of sequester fear?
But Yahoo Finance and CNN Money are telling me its because of Italian Election Uncertainity?
BTW, what the hell does that have to do with the markets shedding 1.5%? That is an honest question as I follow the markets but have no clue.
Posted on 2/25/13 at 3:32 pm to OnTheBrink
Markets hate uncertainty........but it seems like we've been through this drill many times and once things shake out the market rebounds. One of the textbook examples of this is Black Monday (1987)....if I'm not mistaken if you had bought at the low end that day you would have made bank if you held the stocks for any measurable amount of time.
Posted on 2/25/13 at 4:33 pm to OnTheBrink
quote:
But Yahoo Finance and CNN Money are telling me its because of Italian Election Uncertainity?
They have to have a simple reason to fit into their headline. A lot of the time it is comical nonsense. There has been a shite-ton of bad economic news lately but everybody is operating on the assumption that the Fed can keep the market inflated regardless of the fundamentals. I think that belief is dangerous as hell.
Posted on 2/25/13 at 4:39 pm to OnTheBrink
quote:
But Yahoo Finance and CNN Money are telling me its because of Italian Election Uncertainity?
This time the media got it right. If Silvio Bersculoni and the anti-EU party gain control that takes away all the market momentum we got from the OMT announcement. Once asked a question in relation to the markets Silvio basically called the people raising Italy's borrowing costs "a bunch of coke snorting traders". . He failed the mention the 1% CUMULATIVE GDP growth for Italy in the 2000's decades. That definitely didn't have anything to do with it.
Also, in regards to the sequester. We're going to go over the sequester, the deal will not get done before 3/1. A couple dates that you might see a deal get done is March 27th when the Continuing Resolution (basically stop-gap financing when the government can't pass a budget) and April 15th when Congress must actually pass a budget blueprint or they don't get paid. Keep in mind this just needs to be a blueprint, not an actual budget that is signed.
Posted on 2/26/13 at 1:00 pm to OnTheBrink
Soooooooo, the Italian Election uncertainity is now certain with the markets moving up ~1% today?
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