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DOW/NASDAQ/S&P500 all close at multi-year highs


sobercuban
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http://www.marketwatch.com/story/us-stocks-applaud-ecbs-bond-buying-plan-2012-09-06

 

The Dow Jones Industrial Average /quotes/zigman/627449 DJIA +1.87% surged 244.52 points, or 1.9%, to close at 13,292.00, its highest close since Dec. 28, 2007.

 

All 30 Dow components finished higher. Bank of America Corp. /quotes/zigman/190927/quotes/nls/bac BAC +5.03% led the gains with a 5% advance after the bank agreed to sell Strategic Partners Inc. to private-equity investors. Read more on financial stocks.

 

The S&P 500 Index /quotes/zigman/3870025 SPX +2.04% rose 28.68 points, or 2%, to close at 1,432.12, the highest close since Jan. 3, 2008. Of the 10 sectors in the S&P 500, materials, financials and tech stocks led the gains.

 

For the Dow and the S&P 500, Thursday was largest one-day percentage gain for both indexes since June 29.

 

The Nasdaq Composite Index /quotes/zigman/123127 COMP +2.17% jumped 66.54 points, or 2.2%, to 3,135.81, its highest close since Nov. 15, 2000.

 

Is it time for profit taking?

 

DJIA

 

attachment.php?attachmentid=3996&d=1346980554

 

NASDAQ

 

attachment.php?attachmentid=3999&d=1346984031

 

S&P 500

 

attachment.php?attachmentid=3998&d=1346980577

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Right now, with the impending potential doom of the Euro, I've been skittish to invest in anything. The collapse of the Eurozone is going to play havoc with all the markets around the globe. I still have a little bit currently invest, under 10k, but until there is more stability there, I am reluctant to put much more than that in. And once the chain of events is put in motion, I think natural reaction for a lot of investors will be to pull out as quickly as possibly. I'd rather just stay out for the time being.

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Money market trends are up across the board. It is a good time to shift SOME assets into it. With that said, stock investment is a crap shoot and susceptible to overnight losses as much as gains. I was always taught that when investing for your future, one should put the bulk of those investments into treasury bonds, mutual funds, and your 401k. There is no safer long term investment than those. You're just not going to get rich overnight like you possibly could playing the money market lottery.

 

A diversified portfolio is the key to long term success in investments. Don't put all of your eggs in one basket so to speak.

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Right now' date=' with the impending potential doom of the Euro, I've been skittish to invest in anything. The collapse of the Eurozone is going to play havoc with all the markets around the globe. I still have a little bit currently invest, under 10k, but until there is more stability there, I am reluctant to put much more than that in. And once the chain of events is put in motion, I think natural reaction for a lot of investors will be to pull out as quickly as possibly. I'd rather just stay out for the time being.[/quote']

 

I've thought about upping my contributions but have decided against it for much the same reason. The only reason that I'm riding high is because I started dumping cash in near the low point of the market at the end of '08 beginning of '09. I got to ride the rebound.

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Right now' date=' with the impending potential doom of the Euro, I've been skittish to invest in anything. The collapse of the Eurozone is going to play havoc with all the markets around the globe. I still have a little bit currently invest, under 10k, but until there is more stability there, I am reluctant to put much more than that in. And once the chain of events is put in motion, I think natural reaction for a lot of investors will be to pull out as quickly as possibly. I'd rather just stay out for the time being.[/quote']

 

This is correct. When those investors pull out of the market a "crash" is sure to follow. Timing is everything.

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