AMERICAblog: Dow soars after news that Obama's new Treasury Secretary is Timothy Geithner: “The markets are applauding change."
Hubris
· 1 year ago
This has nothing to due with the appointment. It is a relief rally post a huge decline. Do not get to excited because there is more to the down side.
shanobama
· 1 year ago
I have read 7200? is that the bottom....or not
lucky hussein
· 1 year ago
f-ed up rally, imo... look for this to be gone next week. maybe. btw: wasn't Geithner a leutentant under rubin, summers, et all during dereguation madness? what's his opinion of that now? is he a devotee of ayn rand? ;)
Indigo
· 1 year ago
An intersting choice, someone who socializes with the Wall Street set. That could be a good thing.
Robert
· 1 year ago
It's a short covering rally on the options expiration day. The momentum indicators were at the bottom of the charts, indicating oversold, and market participants were looking for some stimulus to get them moving up. They could go back to the top over several days, depending on what the manipulators drop on us as news, often do before turning south again, but not necessarily. Sometimes they just rise off the bottom for a little bounce, then settle back. Once all the short covering peters out, chances are the pundits will then be talking about the terrible economy ahead and investors booking some profits. Then it'll be time to see new lows in the averages.
red_dwarf
· 1 year ago
Robert - thanxs for the input - not too many economists drop in - hope to see more of your comments - helps for us non-econs to get a feel for some of the dynamics.
Marck
· 1 year ago
Off Topic: Boycott Utah! Just saw a very 'gay" Ski Utah commercial on Bay Area California Cable with male "snowflakes" rolling around on top of eachother in bed. Contact these people to tell them that you will not fund H8! Leigh von der Esch Managing Director 801-538-1370 David Williams Deputy Director, Marketing & Research 801-538-1317 Tracie Cayford Deputy Director, Communications & Operations 801-538-8777 Barbara Bloedorn Assistant to the Director 801-538-1369 Lorraine Daly Marketing Assistant 801-538-1306 Diane Wilson Executive Assistant 801-538-1312
Dave of the Jungle
· 1 year ago
Freedom from Nincompoopery.
Soundboy_jeff_meanie
· 1 year ago
and political chimperors.
Older_Wiser
· 1 year ago
Geithner was the one who pushed for the Lehman Bros. collapse, from what I remember. Actually, I watched him at a congressional hearing and was somewhat impressed.
He has an interesting background--father worked for the Ford Foundation for 28 yrs and the Geithners lived abroad, mostly in SE Asia. Geithner speaks Chinese and some Japanese. Married w/2 kids. Get more info online.
gwpriester
· 1 year ago
Looks more like a little pre-weekend bottom fishing.
bumpkis
· 1 year ago
Looks like the PPT closing Friday above 8000...
Soundboy_jeff_meanie
· 1 year ago
I love the way they blame the rally or decline on one thing or another...
blame it on what it is, speculation.
as long as people are losing jobs, companies are folding and the dollar is shrinking... the market is still going down. look at the market overall for the last month, its HAD rallies.... and yet, its worth almost %50 of what it was two years ago.
rah rah rah.
Older_Wiser
· 1 year ago
It seems that Geithner also: First worked for Kissinger & Assoc., then went to Treasury and was an aide to both Bob Rubin and Larry Summers, so he's not a stranger to Treasury. From news.muckety.com
His informal group of advisers includes E. Gerald Corrigan, a managing director of Goldman Sachs and a former New York Fed president; Treasury Secretary Henry M. Paulson Jr.; John Thain, the CEO of Merrill Lynch; Paul A. Volcker, the former Fed chairman; and Peter G. Peterson, the former U.S. secretary of commerce.
James “Jamie” L. Dimon, the CEO and chairman of J.P. Morgan Chase, is a Geithner ally and a member of the board of the New York Fed.
lucky hussein
· 1 year ago
just what I was afraid of, thanks. I trust none of these people except volcker
clytemnestra
· 1 year ago
so Sean and the rest of FuxSnews are you going to amend what you are saying now? probably not .. how this sticks in your craw .. asshats
paulbe
· 1 year ago
This is turning into the greatest Bear market in history, even with the efforts of the PPT to rig trading, like they clearly did on Friday.
Andrew
· 1 year ago
A one day wonder and a falg pole rally in the last 30 minutes driving the DOW up nearly 500 points based on a name?!?!? This was nothing more than the PPT coming into the markets buying up S&P futures to give the impression that life has returned to normal in financial land when in fact nothing has changed and Mr. Geithner if confirmed, won't even start until the latter part of January. With Congress closing down and for all intent and purpose Paulson throwing in the towel saying he will leave the balance of the bailout to whom ever takes over is the same mistake that FDR made while waiting to take over from Hoover. Homes are still being foreclosed on, credit is still very tight, unemployment according to JP Morgan will exceed 9% in a report released today. So the next time you see the DOW rise like a rocket on the expectation that all will be wonderful when its not, you'll know that the invisible hand of the Plunge Protection Team also known as the Presidents Working Group on Financial Markets has been hard at wok manipulating the markets so as to gain a favorable psychological lift to beleagured investors who no longer have any confidence in the markets which have in fact been turned into casinos..
PaulG
· 1 year ago
Market closes worse than any day except yesterday. I'll leave the champaigne to chill for a while.
Helen Rainier
· 1 year ago
What is the PPT? I've seen a few comments referencing it but what is it?
All Comments
btw: wasn't Geithner a leutentant under rubin, summers, et all during dereguation madness?
what's his opinion of that now? is he a devotee of ayn rand? ;)
Boycott Utah! Just saw a very 'gay" Ski Utah commercial on Bay Area California Cable with male "snowflakes" rolling around on top of eachother in bed. Contact these people to tell them that you will not fund H8!
Leigh von der Esch Managing Director 801-538-1370
David Williams Deputy Director, Marketing & Research 801-538-1317
Tracie Cayford Deputy Director, Communications & Operations 801-538-8777
Barbara Bloedorn Assistant to the Director 801-538-1369
Lorraine Daly Marketing Assistant 801-538-1306
Diane Wilson Executive Assistant 801-538-1312
He has an interesting background--father worked for the Ford Foundation for 28 yrs and the Geithners lived abroad, mostly in SE Asia. Geithner speaks Chinese and some Japanese. Married w/2 kids. Get more info online.
blame it on what it is, speculation.
as long as people are losing jobs, companies are folding and the dollar is shrinking... the market is still going down. look at the market overall for the last month, its HAD rallies.... and yet, its worth almost %50 of what it was two years ago.
rah rah rah.
His informal group of advisers includes E. Gerald Corrigan, a managing director of Goldman Sachs and a former New York Fed president; Treasury Secretary Henry M. Paulson Jr.; John Thain, the CEO of Merrill Lynch; Paul A. Volcker, the former Fed chairman; and Peter G. Peterson, the former U.S. secretary of commerce.
James “Jamie” L. Dimon, the CEO and chairman of J.P. Morgan Chase, is a Geithner ally and a member of the board of the New York Fed.
Homes are still being foreclosed on, credit is still very tight, unemployment according to JP Morgan will exceed 9% in a report released today.
So the next time you see the DOW rise like a rocket on the expectation that all will be wonderful when its not, you'll know that the invisible hand of the Plunge Protection Team also known as the Presidents Working Group on Financial Markets has been hard at wok manipulating the markets so as to gain a favorable psychological lift to beleagured investors who no longer have any confidence in the markets which have in fact been turned into casinos..