Open Thread: New Market Highs?

Tuesday, October 02, 2007 | 08:30 PM

I sat in on an interesting conversation today.

It was with the CEO of a public company ($20B+ cap), a two major shareholders (only slightly disgruntled). I am only a very minor S/H, and was really there as an observer who is well versed in both media and markets. There were 4 of us present.

I made my contributions as to what I thought they needed to do to improve their communications. However, the most interesting aspect to me had nothing to do with me or the firm, and everything to do with the possibility of a recession, and the meaning of yesterday's record Dow close.

My two cents: First day of quarter often finds fund managers with cash to put to work (thanks to the garbage they had to get off their books before last quarter ended); Also, Dow theorists are noting that the Transports have not yet confirmed this new high.

Lastly, the most bullish thing any market can do is go higher. And new highs means this market has done just that.


So the topic for the assembled multitudes here is simple: What do the new highs in the Dow mean? How likely (or unlikely) is a U.S. recession? Is there a) more upside to the indexes, 2) is this a suckers rally, or iii. do we not know at this time?

What say ye?


Tuesday, October 02, 2007 | 08:30 PM | Permalink | Comments (71) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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The fed has made in absolutely crystal clear that they are here to bail you out if you are long and wrong. Clearly HFs were frontrunning 1998 and our expecting things to go back to normal. Most EM'sm are up multiples of where they were three years ago, not like the naz at 2000. How much longer are EM's going to continue? When they turn down its recession.

Posted by: Shrek | Oct 2, 2007 8:45:47 PM

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