@mjp28 said:

Friday 7/11/17 close:

Dow 21,637

NASDAQ 6,312

S&P 500 2,459

So? Well unless you've been living under a rock this is all-time nose bleed high stock market territory.

So is it time to do a little profit taking...yet? People have been asking this since before the 2016 election.

Monday 8/7/17 close, and the beat goes on:

DOW 22118

NASDAQ 6383

S&P 500 2480

@westside-steve said:

The rule about buying low and selling high is that first you have to buy low!

WSS

Or short the stock(s) when you go in as high as possible and wait for the drop and make super easy money because you "borrow" the stock and pay it back when you cover the short.

CAUTION: shorting has a limited downside profit (stock goes bust) and unlimited upside potential loss (stock goes up, even splits and keeps going).

And no guarantees on anything, hey almost like gambling! (but not gambling)

@mjp28 said:

Now Wed. 8/2 DOW 22,016, maybe a good time to short the market? I sure would be reluctant to put new money long.

The rule about buying low and selling high is that first you have to buy low!

WSS

@mjp28 said:

Friday 7/11/17 close:

Dow 21,637

NASDAQ 6,312

S&P 500 2,459

So? Well unless you've been living under a rock this is all-time nose bleed high stock market territory.

So is it time to do a little profit taking...yet? People have been asking this since before the 2016 election.

Now Wed. 8/2 DOW 22,016, maybe a good time to short the market? I sure would be reluctant to put new money long.

Fake news during the Obama bull market

http://money.cnn.com/2017/02/13/investing/stocks-all-time-highs-donald-trump-janet-yellen-fed/index.html

And now the fake news when Trump is president

WSS

You are correct automation is here to stay and has been costing human beings jobs for decades or rather centuries.

And it doesn't seem like we are shipping highly skilled jobs overseas. Manufacturing? Unfortunately a warm body is pretty easy to replace. You don't need thousands of grunt Laborers to run a company like Google.

Of the people we know in common those who are on the skids have lived lives that pretty much guaranteed they would be on the skids today.

WSS

@diehardbrownsfan said:

What are you....a fucking hail stone?

@westside-steve said:

The stock market may be a selling point in an election...I have no doubt, but it is a complete red herring. Pie in the sky. But here is also the point: you say people should learn something they can use? Well, they did exactly that. A lot of people used their degrees....but then got downsized, because job went overseas, because technology took jobs away from them. And it is even college educated people. When was the last time you had to make a call to some business...and all you got were recordings and voice activated response machines. You have to go through hell or high water just to talk to a human being. Even the spam calls trying to sell you shit are practically all just computers.

And, of course it is great to invest your money....but people like I am talking about have no money to invest. They invest in their debts and in their basic needs to survive. All their money goes to those sorts of things.

You and I know most of the same people: How many people that we know that have that good steady job....with benefits, with 401Ks and pensions? (Most of the people we know like that work FOR the government).

All I am saying is that I think I am on solid ground in saying that the rise in the stock market is a mere blip on the economic well being of the vast majority of Americans.

@the-gipper said:

What was your major. I assume by your reference you are talking about who was President. Who was President has almost not one goddamn thing to do with how the economy, or the stock market performs.

And it is not an issue of the booming stock market being a negative or a positive. The issues are what kind of jobs, lives, benefits, debts etc. that people have. Not some fucking number that means almost nothing.

Maybe some people made some money. Good....how many people did they employ? How many did they provide benefits for?

But the stock market is and always has been a selling point during an election. Don't kid yourself.

Also there's nothing wrong with investing your money. Shitload better than waiting for the government to invest it for you and give you a pittance in Social Security.

WSS

@the-gipper said:

Well, this surge in the Dow has provided no tangible economic benefit to the vast, vast majority of Americans. Net spending power of Average Americans is still falling behind. The income/asset gap is still vast. While employment rates have fluctuated between 4-5%...the actual rate of unemployment (counting those who have ceased looking for work) is at like 9%. And that may not account for "underemployment"....meaning people with like college degrees who have to flip burgers to make a living. I guess perhaps this figure may mean something if you are part of the 1/2 of 1% at the top...but it has almost no benefit to the other 99.5% of us.

The stock market has never been about or for the vast number of Americans unless they're smart enough to be in a 401k, IRA or other savings vehicles.

The vast number of unemployed and underemployed people are the byproduct of decades of American jobs being shipped overseas thus undermining the core industries like steel (which included me in 1980 after after 11 good years with USSTEEL).

Now we as a country need to try and undo decades of job neglect. Plus "some" Americans that have the opportunity to save something choose not to with dire consequences down the road, I see the results of that all to often.

@westside-steve said:

What was your major. I assume by your reference you are talking about who was President. Who was President has almost not one goddamn thing to do with how the economy, or the stock market performs.

And it is not an issue of the booming stock market being a negative or a positive. The issues are what kind of jobs, lives, benefits, debts etc. that people have. Not some fucking number that means almost nothing.

Maybe some people made some money. Good....how many people did they employ? How many did they provide benefits for?

Just wait until the correction comes and some people will be squealing like stuck pigs.

WSS

@mjp28 said:

Well, this surge in the Dow has provided no tangible economic benefit to the vast, vast majority of Americans. Net spending power of Average Americans is still falling behind. The income/asset gap is still vast. While employment rates have fluctuated between 4-5%...the actual rate of unemployment (counting those who have ceased looking for work) is at like 9%. And that may not account for "underemployment"....meaning people with like college degrees who have to flip burgers to make a living. I guess perhaps this figure may mean something if you are part of the 1/2 of 1% at the top...but it has almost no benefit to the other 99.5% of us.

@the-gipper said:

Its purely an inflationary thing. Means little to the actual economic well being of the nation.

Nothing inflationary about the DOW going from 6500 to 21900 in 8 years in a virtually zero inflation period. I've been in the market since 1971 and have NEVER seen anything even close to this!

It must be magic.

@mjp28 said:

Its purely an inflationary thing. Means little to the actual economic well being of the nation.

So what's next?

@westside-steve said:

Well Bud not like Las Vegas if you think it's not going to correct itself then that's the way should bet.

WSS

I have a friend that retired in March 2017 at 65 had me move her to 88% cash in November of 2016. Trying to time the market is always tricky or maybe dangerous....but in her case nothing wrong with being cautious at 64.

@mjp28 said:

We have not really had a meaningful correction since the market turned around on/about 03/09/2009 and the Dow was about 6,500.

Overdue? I guess so -but- do you dare pull back now? Biggest bull in my 66 years on this earth. Scary huh.

Well Bud not like Las Vegas if you think it's not going to correct itself then that's the way should bet.

?

WSS

@westside-steve said:

A correction is always right around the corner.

WSS

We have not really had a meaningful correction since the market turned around on/about 03/09/2009 and the Dow was about 6,500.

Overdue? I guess so -but- do you dare pull back now? Biggest bull in my 66 years on this earth. Scary huh.

@mjp28 said:

Friday 7/11/17 close:

Dow 21,637

NASDAQ 6,312

S&P 500 2,459

So? Well unless you've been living under a rock this is all-time nose bleed high stock market territory.

So is it time to do a little profit taking...yet? People have been asking this since before the 2016 election.

A correction is always right around the corner.

WSS