U.S. stocks continue to soar!

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Stinky
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Re: U.S. stocks continue to soar!

Post by Stinky »

CurlyDave wrote: Thu May 06, 2021 2:53 pm I have been waiting a long time for a melt up at the close, but it looks like today is the day.
Yes! Melt up confirmed.

It’s about time.
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Re: U.S. stocks continue to soar!

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at the gym
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Re: U.S. stocks continue to soar!

Post by Marseille07 »

Finally a good day on the SPX but NASDAQ continues to lag behind.
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Re: U.S. stocks continue to soar!

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lostdog wrote: Thu May 06, 2021 2:57 pmat the gym
Cause and effect …..
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Re: U.S. stocks continue to soar!

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hrd to type on eliptical
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Re: U.S. stocks continue to soar!

Post by stocknoob4111 »

what exactly happened? I checked this morning and the market wasn't soaring, then suddenly soaring when I checked now. Did Powell do a dance?
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Re: U.S. stocks continue to soar!

Post by watchnerd »

stocknoob4111 wrote: Thu May 06, 2021 3:09 pm what exactly happened? I checked this morning and the market wasn't soaring, then suddenly soaring when I checked now. Did Powell do a dance?
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Re: U.S. stocks continue to soar!

Post by firebirdparts »

What did I just witness?

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Re: U.S. stocks continue to soar!

Post by anoop »

Can anyone break this down?
https://www.federalreserve.gov/publicat ... 210506.htm

It looks like the fed is saying that asset prices are vulnerable to a drop, but they are standing by with tools so that if it does they will make sure that it rebounds swiftly.

:mrgreen:
Last edited by anoop on Thu May 06, 2021 3:43 pm, edited 1 time in total.
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Re: U.S. stocks continue to soar!

Post by anoop »

stocknoob4111 wrote: Thu May 06, 2021 3:09 pm what exactly happened? I checked this morning and the market wasn't soaring, then suddenly soaring when I checked now. Did Powell do a dance?
you snooze, you lose!
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Re: U.S. stocks continue to soar!

Post by sailaway »

anoop wrote: Thu May 06, 2021 3:42 pm
stocknoob4111 wrote: Thu May 06, 2021 3:09 pm what exactly happened? I checked this morning and the market wasn't soaring, then suddenly soaring when I checked now. Did Powell do a dance?
you snooze, you lose!
I was actually quite happy with what I woke up to after my nap!
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Re: U.S. stocks continue to soar!

Post by ImUrHuckleberry »

stocknoob4111 wrote: Thu May 06, 2021 3:09 pm what exactly happened? I checked this morning and the market wasn't soaring, then suddenly soaring when I checked now. Did Powell do a dance?
I figured Forester make another doom and gloom prediction, but I can't seem to find it.
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Re: U.S. stocks continue to soar!

Post by Doom&Gloom »

ImUrHuckleberry wrote: Thu May 06, 2021 4:36 pm
stocknoob4111 wrote: Thu May 06, 2021 3:09 pm what exactly happened? I checked this morning and the market wasn't soaring, then suddenly soaring when I checked now. Did Powell do a dance?
I figured Forester make another doom and gloom prediction, but I can't seem to find it.
Q: What would happen if Doom&Gloom made a forester prediction?

A: Lumber futures would close limit down three days in a row.

I'll be here all week, folks :sharebeer
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Re: U.S. stocks continue to soar!

Post by OohLaLa »

Doom&Gloom wrote: Thu May 06, 2021 4:45 pm
ImUrHuckleberry wrote: Thu May 06, 2021 4:36 pm
stocknoob4111 wrote: Thu May 06, 2021 3:09 pm what exactly happened? I checked this morning and the market wasn't soaring, then suddenly soaring when I checked now. Did Powell do a dance?
I figured Forester make another doom and gloom prediction, but I can't seem to find it.
Q: What would happen if Doom&Gloom made a forester prediction?

A: Lumber futures would close limit down three days in a row.

I'll be here all week, folks :sharebeer
:mrgreen:
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Re: U.S. stocks continue to soar!

Post by Robot Monster »

From that statement: "Vulnerabilities associated with elevated risk appetite are rising."

“The real story here is the tension -- if not the glaring contradiction -- of the Fed’s pursuit of quantitative easing, the aim of which is to lower long-term rates and encourage reach for yield, and their concern that people are indeed reaching for yield,” said George Selgin, a senior fellow at the Cato Institute in Washington, referring to the bond buying. “The Fed could certainly taper its QE activities to counter this risk-taking as the recovery continues.” link
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anoop
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Re: U.S. stocks continue to soar!

Post by anoop »

Robot Monster wrote: Thu May 06, 2021 5:21 pm
From that statement: "Vulnerabilities associated with elevated risk appetite are rising."

“The real story here is the tension -- if not the glaring contradiction -- of the Fed’s pursuit of quantitative easing, the aim of which is to lower long-term rates and encourage reach for yield, and their concern that people are indeed reaching for yield,” said George Selgin, a senior fellow at the Cato Institute in Washington, referring to the bond buying. “The Fed could certainly taper its QE activities to counter this risk-taking as the recovery continues.” link
The problem is that if they taper they will crash the market. They cannot afford to do that until things get a bit more settled with respect to rents, mortgage forbearance, employment levels, etc. My guess this is they are most concerned about commodity prices because that is either going to lead to really bad shortages down the line or price increases or even a combination of both.
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Re: U.S. stocks continue to soar!

Post by z3r0c00l »

anoop wrote: Thu May 06, 2021 5:49 pm
Robot Monster wrote: Thu May 06, 2021 5:21 pm
From that statement: "Vulnerabilities associated with elevated risk appetite are rising."

“The real story here is the tension -- if not the glaring contradiction -- of the Fed’s pursuit of quantitative easing, the aim of which is to lower long-term rates and encourage reach for yield, and their concern that people are indeed reaching for yield,” said George Selgin, a senior fellow at the Cato Institute in Washington, referring to the bond buying. “The Fed could certainly taper its QE activities to counter this risk-taking as the recovery continues.” link
The problem is that if they taper they will crash the market. They cannot afford to do that until things get a bit more settled with respect to rents, mortgage forbearance, employment levels, etc. My guess this is they are most concerned about commodity prices because that is either going to lead to really bad shortages down the line or price increases or even a combination of both.
"the 'meme stock' episode" How interesting to see them name it directly. For my money, they are going to keep running the engine at flank speed even if it starts to overheat, for at least the remainder of this year and probably well into 2022.
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Re: U.S. stocks continue to soar!

Post by Broken Man 1999 »

The market will soar until it doesn't.

If my rebalancing band is reached, I will sell equity ETFs and buy bond funds. Rinse, repeat. If equities swoon enough to require rebalancing, I will sell bond funds and buy equity ETFs. Rinse, repeat.
'
I have no idea what will happen, but I am prepared to act as needed.

No brainer, IMHO, assuming one has a plan. Now might be a good time for those who have no plan to develop one. That way emotions won't be driving the efforts.

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Re: U.S. stocks continue to soar!

Post by abuss368 »

I backed up the TRUCK today! Then I hit the rocket thrusters!

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Re: U.S. stocks continue to soar!

Post by watchnerd »

abuss368 wrote: Thu May 06, 2021 7:14 pm I backed up the TRUCK today! Then I hit the rocket thrusters!

Tony
Aren't you supposed to back up the trunk on down days?
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Re: U.S. stocks continue to soar!

Post by Marseille07 »

watchnerd wrote: Thu May 06, 2021 7:26 pm
abuss368 wrote: Thu May 06, 2021 7:14 pm I backed up the TRUCK today! Then I hit the rocket thrusters!

Tony
Aren't you supposed to back up the trunk on down days?
That's me. The DCA sig was firing all week.
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Re: U.S. stocks continue to soar!

Post by lazynovice »

watchnerd wrote: Thu May 06, 2021 7:26 pm
abuss368 wrote: Thu May 06, 2021 7:14 pm I backed up the TRUCK today! Then I hit the rocket thrusters!

Tony
Aren't you supposed to back up the trunk on down days?
It was down and then it was up, then it was down and then it was up. So depends on what time you bought.
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Re: U.S. stocks continue to soar!

Post by watchnerd »

lazynovice wrote: Thu May 06, 2021 7:33 pm
It was down and then it was up, then it was down and then it was up. So depends on what time you bought.
I think Tony only holds mutual funds, so he gets the end of day price no matter what. ;)
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Re: U.S. stocks continue to soar!

Post by lazynovice »

watchnerd wrote: Thu May 06, 2021 7:35 pm
lazynovice wrote: Thu May 06, 2021 7:33 pm
It was down and then it was up, then it was down and then it was up. So depends on what time you bought.
I think Tony only holds mutual funds, so he gets the end of day price no matter what. ;)
Lol. I didn’t know that.
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Re: U.S. stocks continue to soar!

Post by Trader Joe »

Great close today:

Market Summary
>
S&P 500
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+34.03 (0.82%)

May 6, 5:28 PM EDT · Disclaimer
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Re: U.S. stocks continue to soar!

Post by abuss368 »

watchnerd wrote: Thu May 06, 2021 7:26 pm
abuss368 wrote: Thu May 06, 2021 7:14 pm I backed up the TRUCK today! Then I hit the rocket thrusters!

Tony
Aren't you supposed to back up the trunk on down days?
My rocket ship malfunctioned. I could not get the transmission to work! So while there I filled up with more shares!

Tony
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Re: U.S. stocks continue to soar!

Post by Beensabu »

anoop wrote: Thu May 06, 2021 3:40 pm Can anyone break this down?
https://www.federalreserve.gov/publicat ... 210506.htm

It looks like the fed is saying that asset prices are vulnerable to a drop, but they are standing by with tools so that if it does they will make sure that it rebounds swiftly.

:mrgreen:
Ooooooooh. They said "Countercyclical Capital Buffer". That means they think banks are overextended and about to screw things up again.
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Re: U.S. stocks continue to soar!

Post by stocknoob4111 »

jobs report tomorrow... if we have good numbers then market may sell off on fears Feds easy money may stop and inflation is risimg
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Re: U.S. stocks continue to soar!

Post by sailaway »

Somehow I thought this was Friday and I wouldn't care about the market again until Monday, but my husband won't take me to our beach party, there is no paycheck in the checking account and my credit card hasn't actually closed so that I can pay set up the next payment... So one more day. Are futures pointing in the right direction or will there be another reversal?
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Re: U.S. stocks continue to soar!

Post by Yesterdaysnews »

So basically the Fed is saying we know what’s coming an we got your back, right? Let the soaring continue then!
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Re: U.S. stocks continue to soar!

Post by anoop »

Beensabu wrote: Thu May 06, 2021 9:32 pm
anoop wrote: Thu May 06, 2021 3:40 pm Can anyone break this down?
https://www.federalreserve.gov/publicat ... 210506.htm

It looks like the fed is saying that asset prices are vulnerable to a drop, but they are standing by with tools so that if it does they will make sure that it rebounds swiftly.

:mrgreen:
Ooooooooh. They said "Countercyclical Capital Buffer". That means they think banks are overextended and about to screw things up again.
If that’s the case, I’d say it’s big time bullish!
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Re: U.S. stocks continue to soar!

Post by Hyperchicken »

Sky is blue
And futures green
In a Bogleheads
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Re: U.S. stocks continue to soar!

Post by Marseille07 »

All eyes on the non-farm payrolls report.
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Re: U.S. stocks continue to soar!

Post by Stinky »

Hyperchicken wrote: Thu May 06, 2021 11:04 pm Sky is blue
And futures green
In a Bogleheads
Submarine
Very clever! :sharebeer
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Re: U.S. stocks continue to soar!

Post by gonefishing01 »

Here we go! Another soaring day to end the week would be mighty fine :beer
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Re: U.S. stocks continue to soar!

Post by bluewater23t »

Marseille07 wrote: Fri May 07, 2021 2:00 am All eyes on the non-farm payrolls report.
Hahahaha. As expected, swing and a miss is wildly bullish for Tech.
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Re: U.S. stocks continue to soar!

Post by atdharris »

A terrible jobs report means that stocks should soar today. Great news for my tech heavy portfolio.
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Re: U.S. stocks continue to soar!

Post by Tamalak »

atdharris wrote: Fri May 07, 2021 8:27 am A terrible jobs report means that stocks should soar today.
Not that I'm complaining but why???
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Re: U.S. stocks continue to soar!

Post by watchnerd »

Tamalak wrote: Fri May 07, 2021 8:42 am
atdharris wrote: Fri May 07, 2021 8:27 am A terrible jobs report means that stocks should soar today.
Not that I'm complaining but why???
The Fed would be more likely to keep interest rates low longer.
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Re: U.S. stocks continue to soar!

Post by Stinky »

Legitimate soaring going on

On top of yesterday’s gains.
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Re: U.S. stocks continue to soar!

Post by Tamalak »

watchnerd wrote: Fri May 07, 2021 8:50 am
Tamalak wrote: Fri May 07, 2021 8:42 am
atdharris wrote: Fri May 07, 2021 8:27 am A terrible jobs report means that stocks should soar today.
Not that I'm complaining but why???
The Fed would be more likely to keep interest rates low longer.
What a horrible reason to go up.. the stock market would prefer to remain sick because the medicine tastes good :oops:
Last edited by Tamalak on Fri May 07, 2021 9:18 am, edited 1 time in total.
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Re: U.S. stocks continue to soar!

Post by z3r0c00l »

Tamalak wrote: Fri May 07, 2021 9:10 am What a horrible reason to go up.. the stock market would prefer to remain sick because the medicine tastes good :oops:
I might posit that the more dangerous disease is unemployment and a deflation, or at least allow that it could be. If that is the case, then low interest rates are part of the medicine.

Still waiting for Dow 36,000 so we can celebrate the prescient book of the same name.
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Re: U.S. stocks continue to soar!

Post by stocknoob4111 »

Tamalak wrote: Fri May 07, 2021 9:10 am What a horrible reason to go up..
There is too much money in the system and that's inflationary, stocks have to go up as well... but the question is, are we going up in REAL terms? Now, that is debatable.
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Re: U.S. stocks continue to soar!

Post by CurlyDave »

watchnerd wrote: Fri May 07, 2021 8:50 am
Tamalak wrote: Fri May 07, 2021 8:42 am
atdharris wrote: Fri May 07, 2021 8:27 am A terrible jobs report means that stocks should soar today.
Not that I'm complaining but why???
The Fed would be more likely to keep interest rates low longer.
If we can go the entire day without some highly placed person saying the wrong thing we might end the week on a high note.

Yesterday SPY soared while NASDAQ brought up the rear. So far today the roles are reversed. :mrgreen: :mrgreen:
Answering a question is easy -- asking the right question is the hard part.
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Re: U.S. stocks continue to soar!

Post by watchnerd »

CurlyDave wrote: Fri May 07, 2021 9:23 am

If we can go the entire day without some highly placed person saying the wrong thing we might end the week on a high note.
Ethereum, gold, and international are making up for SP500 weakness in my port:

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Post by txhill »

atdharris wrote: Fri May 07, 2021 8:27 am A terrible jobs report means that stocks should soar today. Great news for my tech heavy portfolio.
This is a perverted result but absolutely the case. Keep the money printer on...
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Re: U.S. stocks continue to soar!

Post by Robot Monster »

Tamalak wrote: Fri May 07, 2021 9:10 am
watchnerd wrote: Fri May 07, 2021 8:50 am
Tamalak wrote: Fri May 07, 2021 8:42 am
atdharris wrote: Fri May 07, 2021 8:27 am A terrible jobs report means that stocks should soar today.
Not that I'm complaining but why???
The Fed would be more likely to keep interest rates low longer.
What a horrible reason to go up.. the stock market would prefer to remain sick because the medicine tastes good :oops:
I hope inflation doesn't bubble up in a surprising way that would be enough to force the Fed's hand to make a sudden withdrawal of that medicine, if the market is such a junkie for it.
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Re: U.S. stocks continue to soar!

Post by CurlyDave »

Robot Monster wrote: Fri May 07, 2021 9:37 am
...I hope inflation doesn't bubble up in a surprising way that would be enough to force the Fed's hand to make a sudden withdrawal of that medicine, if the market is such a junkie for it.
I don't think that is going to happen. For thousands of years governments have recognized that inflation is the debtor's friend, and most governments are debtors.

Even the ancient Romans had government sponsored inflation. They called it "debasing the currency" and it involved making coins with less gold and more copper in the alloy -- this is because the printing press was yet to be invented.
Answering a question is easy -- asking the right question is the hard part.
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Post by jay22 »

Sold some VTI and bought more QQQ over the last couple of days. Paying off today!
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Re: U.S. stocks continue to soar!

Post by rchmx1 »

It's always nice to wake up to Mr Market being in such a good mood. :moneybag
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