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Old 10-01-2007, 11:44 AM
 
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,513,707 times
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Stocks surge on rate cut hopes - Yahoo! News (broken link)

Do you think the rally in the stock market today is justified. Or are you like me and think this is a further continuance of "Irrational Exuberance."
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Old 10-01-2007, 11:59 AM
 
Location: in drifts of snow wherever you go
2,493 posts, read 4,405,085 times
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Quote:
Originally Posted by baystater View Post
Stocks surge on rate cut hopes - Yahoo! News (broken link)

Do you think the rally in the stock market today is justified. Or are you like me and think this is a further continuance of "Irrational Exuberance."
It's just this crazy up and down lately, but I think the general trend will be down. But who knows????
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Old 10-01-2007, 01:20 PM
 
8,943 posts, read 11,796,632 times
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Quote:
Originally Posted by baystater View Post
Stocks surge on rate cut hopes - Yahoo! News (broken link)

Do you think the rally in the stock market today is justified. Or are you like me and think this is a further continuance of "Irrational Exuberance."
All the major averages are breaking into new highs. Technically speaking, things are looking up. Investors who took a beating in August and held on should fare better now. Those who stayed out and are now tempted to jump back in should, as always, be prudent. While market direction is important, individual stocks have their own direction and rhythm that should merit investors' attention. APPY and WAG are two examples. APPY outperforms the market by a huge margin while WAG went the opposite direction.

This stock went from $6 to $10 in seven days.

APPY - SharpCharts from StockCharts.com

This stock drops 13% today while the market is up.

WAG - SharpCharts from StockCharts.com
Last edited by davidt1; 10-01-2007 at 02:08 PM..
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Old 10-01-2007, 09:43 PM
 
Location: Sacramento
14,044 posts, read 27,233,999 times
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Quote:
Originally Posted by baystater View Post
Stocks surge on rate cut hopes - Yahoo! News (broken link)

Do you think the rally in the stock market today is justified. Or are you like me and think this is a further continuance of "Irrational Exuberance."
Based on current and projected P/E ratios for the S&P 500 I would say that stocks are "fully priced" today, neither overpriced nor a bargain. If they continue their trend for the past couple of decades of picking up at least 3-5% additional gain for the final quarter of the year, then I would say they would be slightly overpriced by year end.
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Old 10-01-2007, 10:30 PM
 
Location: Heartland Florida
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You know what they say, what goes up has to come down! How about another October like 1929?
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