geekhack Community > Off Topic
why is the market rising?
wellington1869:
record layoffs, third wave of mortgage defaults on the way, consumer sentiment at record low, and market rises two days in a row.
what gives?
(any traders here?)
itlnstln:
Stimulus package coming through could be part of it. The market is black magic. Never ask why things in the stock market happen. They happen as a result of human feelings and emotions. That's why you see the huge, unexplainable swings, irrational decisions, and wrong predictions (even though the reasoning is solid). That's why I am glad I work for a privately held company.
wellington1869:
--- Quote from: itlnstln;19923 ---Stimulus package coming through could be part of it. The market is black magic. Never ask why things in the stock market happen. They happen as a result of human feelings and emotions. That's why you see the huge, unexplainable swings, irrational decisions, and wrong predictions (even though the reasoning is solid). That's why I am glad I work for a privately held company.
--- End quote ---
stimulus package - true, but barry is facing republican headwinds, no? I would have thought that small optimistic market blip would happen once the bill was actually about to be signed...
Ya, definitely irrational in the short and medium terms, though I do think the longer term trends are a bit more rational. I try to trade trends rather than short term momentum. Not that I'm all that good at that either, lol.
I wonder what volume is like these last two days. It might just be day traders going back and forth I guess.
djones:
so a tiny 250 point blip makes you optimistic? the 150,000 jobs lost in the last 10 days doesn't bother you at all?
wellington1869:
--- Quote from: djones;19967 ---so a tiny 250 point blip makes you optimistic? the 150,000 jobs lost in the last 10 days doesn't bother you at all?
--- End quote ---
lol, i'm not in the least bit optimistic, thats why I dont understand why we had a blip at all...
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