Tag Archive: gold

The Stock Market Rallies and we go over 12k

First off, I apologize for disappearing for a few weeks. I have been extremely busy and haven’t had much time to follow the stock market, let alone write an article about it. But now that I am back and I am happy to announce that yesterday, the Dow Jones finally went over the 12,000 mark like I had originally predicted several months ago. The picture above is what was shown yesterday. The Dow Jones is thankfully doing a lot better today. Although it didn’t rally today, it added onto the huge 3% rally from yesterday.

The Dow Jones currently sits at 12,231. It’s up almost 600 points since I last reported on October 14th. This is great news because it is a sign that the economy is doing better. We haven’t seen the 12,000 figure for months. The last time it was doing well, we were heading towards the 13,000 mark and currently that’s our goal. Our current objective is to stay over the 12,000 mark as we head to 13k.

The NASDAQ is also doing better than when I last reported. Although it dropped just under 1.5 points, it is still doing great. Currently the NASDAQ is at 2,737.  The S&P is also up, currently at 1,285, heading towards the 1,300 mark itself. And finally, the NYSE is at 7,803, almost a 500 point increase from October 14th.

The past two weeks have been great for the stock market. I do regret missing out on most of it but what can you do, life happens.

Before my small break, I was keeping an eye on Netflix. Two days ago, Netflix (NFLX) stocks dropped over 35% after they reported losing over 800,000 subscribers due to their company changes. That’s a huge drop. It hit a new low that day of $74.25 per share. Over the past two days, it has been recovering, but very slowly. Currently Netflix stocks cost $84.14 a share. It’s very surprising to see what was once a $300 stock to lose this much in this little time. Netflix has no one else to blame but itself for this.

So what’s happened to gold over the past 2 weeks?

It seems that Gold has been prospering too. I thought the price of gold would keep going down as the economy improved and the stock market went up, but it seems that gold has been riding along. Gold now costs $1,743 an ounce, compared to $1,680. It’s not a huge increase but an increase nonetheless.

Quite a bit has happened in my absence, I have tried to follow as much as I could but my schedule made it difficult. I am sorry for not bringing you more updates sooner. I will try to bring you as many updates as possible in the near future. Today is the end of the week and next week, the market will open into Halloween. Lets hope the issues in Europe continue to get better and the stock market’s momentum from this week moves over to the next. We could definitely use a big break as we head towards the Holidays.

So how was your two weeks? Are you happy with how the stock market has turned out in its rallies? Where do you think we will go from here?

General Stock Market Graph

by Vlado

Today was the third consecutive day the Stock market has seen gains. Today was another rally for the market as investors are hopeful that the worries in Greece will come to an end soon. The keyword there is ‘hopeful.’ Kind of scary isn’t it? Our entire global economy seems to be riding on hope.

The Greece issue has been in the news for weeks and nothing conclusive has been said besides the fact that Greece may be nearing default soon. But other than that, nothing really happened. We don’t know how the talks are going or what’s exactly happening, nothing is concluded but yet, worries have risen several times, as well as hope has risen. I don’t know about you, but I wouldn’t really count ‘hope’ or ‘worry’ to be factors in deciding how our market runs. But apparently, that’s what seems to be happening. When people are hopeful, the stock market rises, and when they are worried, everything sinks several hundred points.

The Dow Jones today was on the good side today, seeing a gain of over 146 points, falling just 10 points short of the 11,200 mark AGAIN. We have seen that mark several times and it seems every time it tries to head for the 12,000 mark, ‘worries’ about Europe increases and the stocks plummet.

The NASDAQ Composite gained just over 30 points. The S&P 500 gained just over 12 points. And the NYSE gained over a 102 points, going over the 7,000 mark once again (7,043 to be exact).

The official news for now is that Greece is close to finding a way out of its debt crisis. Hopefully it’s true. There is that word again, hope. I do hope a lot when it comes to the stock market but it’s usually always hope. I don’t sell all my stocks when I ‘feel’ that something bad is going to happen in Europe and I don’t buy mass amounts of stocks when I ‘feel’ everything will rise. Sometimes it feels as if some people are just manipulating the news to keep the markets very volatile for their own profits. But of course, proving it is another thing. For now, I am thankful that everything is on the positive end.

So what’s going on with Gold?

Gold seems to be acting a little weird. It has been going down when the stock market plummets and today it actually went up with the stock market’s rally. It is unusual but not too much. Current price of gold is $1,654. Just over $30 more than what it was yesterday. Gold was almost $1,600 an ounce today, a price we haven’t seen in some time. But I have no doubt that it will once again see that price, and go even lower. I think investors should stop investing in commodities like Gold and Silver and start investing in businesses and encourage job growth. That’s where they should see bigger returns.

Today was a good day for the Stock Market. Lets hope it keeps up for the rest of the week. We still have to bounce back to where we were early last week, we’re still a few hundred points below the level.

 

Stock Market Rebounding after last week's huge plummet

by jscreationzs

The stock market saw a horrible week last week. This week started with the stock market rebounding back with a huge rally. Almost every stock saw gains (although there were a few exceptions) after mentality about the crisis in Europe changes. Again…the mentality changed.

Investors are hopeful that the rest of Europe will be able to help Greece get out of its current state, which is almost near defaulting. Although nothing drastic has happened, the way investors and consumers are looking at this has changed. I have predicted several times that this will happen over and over. The stock market will remain very volatile as long as the issue in Greece remains unsolved one way or the other. In the meantime, the stock market will go up and down because investors will think that Greece will either Default or come out of it without a problem.

The Dow Jones saw a huge rally today with a gain of over 272 points. It has once again gone over the 11,000 mark but it’s still quite a distance from our aim of 12,000 points. I still believe that it can happen this year again. Remember, the Dow Jones almost reached 13,000 points earlier this year, that can still happen in 2011, well I’m hopeful at least.

The NASDAQ Composite gained over 33 points finishing at over 2,516 points. The S&P 500 also saw a gain of over 2.3% or 26.5 points finishing at 1,162. And the NYSE gained over 170 points finishing at 6,940. The NYSE still has to catch up and go over the 7,000 mark which it could do very soon.

The market is still very volatile. Nothing guarantees that the momentum from today will carry over to tomorrow. We may or may not see another rally. Of course, we may or may not see another plummet. We have seen situations like this several times in the past few months alone where the stock market plummeted after a rally like we saw today. Hopefully it doesn’t happen. I hope that good news, actual good news, comes out of Greece soon so that we can put this mini recession behind us and move on. We have been in this slump for longer than I want to stay in any slump.

The Gold has seen another drop since I last reported it on Friday. Currently, gold costs $1,623 an ounce. About $19 less than what it was just three days ago. Will the price of gold keep going down?

Maybe. I did say that the massive increase in gold price in a short period of time this year could have been just a bubble. Many people on TV, the internet, and in many other places would agree. The price of gold is almost $300 what it was just a few weeks ago and it has been keep going down. It even went down in last week’s massive drop in the stock market, when normally the price of gold would increase.

I think the overall price of gold will continue to drop as the year draws to an end. Gold price spiked too much in too little time and now it’s slowly deflating. It could still spike up just as quickly but hopefully it won’t because gold tends to reflect how the economy is doing and cheaper gold usually means more people are investing in other things that are helping the economy. Right now I think gold needs to drop more and things like the Employment Rate needs to increase.

What do you think will happen in the coming week to the stock market? Will the rally keep up? Or hit the ceiling and bounce back down?

Market Goes Down as Traders look on

by Vlado

The stock market for the past 3 days have been very disappointing. During the end of August and for some time in September, we though the Global Economy was recovering. I had great faith in the economy and its recovery. I was aware of all the issues in Europe regarding Greece and its Default crisis but nonetheless, I thought they would get things solved by now. But not much has happened and over the past few days, one of the biggest economic leaders, China, showed slow in its economic Growth as well. Everyone excepted at least China to do a lot better than the rest of the world but it doesn’t seem to be the case.

So are we doomed?

I don’t think we are, not yet at least. Although the global economy experienced a huge setback dropping almost 400 points yesterday (Dow Jones Industrial Average), and about 4% everywhere else, we are still hanging in. We are still in better shape than a few years ago when the Dow Jones was a few thousand points lower than it currently is now. And unlike a few years ago (2008), the plummet we experienced yesterday didn’t carry over to today. We did see gains today, but they were minimal.

The Dow Jones gained just 37 points which really isn’t anything compared to the drop it experienced on Wednesday and Thursday. The NASDAQ Composite gained just 27.5 Points. The S&P 500 gained less than 7 points. And the NYSE gained 44 points.

I know we were aiming for that 12,000 mark with the Dow but it’s currently sitting at 10,771. We were just a few hundred points away and now we’re well over a 1000 points from our goal. But I still think it can happen.

Investors are worried all over the world that things may be collapsing soon. So they are mass selling their assets in order to maximize profits or minimize losses. The stock market is very volatile now. It dropped about 500 points in two days very easily, although it didn’t bounce back today, I think it will soon because this is a great time for investors to buy low.

So why don’t I think that the economy is doomed? (Not yet at least). Because I’m looking at Gold. Generally in times of crisis like this with huge sell offs, the price of commodities like Gold and Silver tend to see massive gains but over the past few days, they have been going down. It shows us that investors aren’t putting their money in Gold which happens to be the best thing to invest in because the price always seems to be dependable. Of course they could just be selling and buying something else to store, but what?

I last reported about gold in the article I wrote after About the Stock Market After the Labor Day Weekend. It was almost three weeks ago. We would expect the price of gold to keep going up after what we have seen the stock markets do over the past week or so, but nope. I last reported the price of gold to be $1,877 an ounce. It was very expensive, near its record high of just over $1,900. But over the past few days, gold has been dropping. The Gold Bubble could be collapsing or it could be something altogether. Currently gold costs $1,642 an ounce.  That’s $235 less than what it was just three weeks ago.

So what does this mean?

It could mean a few things. First, the economy is actually recovering and investors (as well as consumers) are just overreacting. If this is the case, we can expect Greece to get out of its crisis soon and we will see rallies again.

It could also be the Federal Reserve’s plan to pump $400 billion into the economy and people are trying to invest something on that end instead of Gold. Which may be weird but I’m not complaining. Lower prices just mean I can buy my mother gold jewelry at a cheaper price.

Today ended the market week. It wasn’t a very happy ending, but at least it wasn’t sad like yesterday. Don’t lose hope. As I always say, a positive mentality can go a long way. We have seen some of it in the past when we all thought Greece was out of trouble or when we believed that President Obama’s stimulus plan was a great idea and that it would help. Nothing in reality has changed, those ideas are still there, but the mentality just changed. If we can shift it back towards the positive (the entire global economy that is), I’m sure we can turn things out.

What do you think about this week in trading? And what do you think may be going on with Gold dropping along with everything else?

The Increase in the Stock Market

By jscreationzs

After the Market Tumbled After 3 Days of Rallying yesterday, we saw a great positive sign today. As we had all hoped, Federal Reserve Chairman Ben Bernanke made a positive announcement today saying that he predicts US Growth in the coming future. He said that the US Economy is on the right track for a long term economic growth and I hope he is right. It’s about time the US economy bounces back from the recession we have been seeing lately. Just this past month alone made the markets almost unbearable.

Bernanke hasn’t mentioned anything about any plans the Fed may take to boost further the US Economy. It may be because he believes that the economy does not need any more catalysts in the mix. If the economy grows in the future on it’s own, then that’s the best thing any investor can hope for. Bernanke admitted that the recovery has been slower than expected but he also said that it is happening and any growth is better than no growth at all.

As a result of the announcement, the stock market has been rallying so far. Currently the Dow Jones Industrial Average is up more than a 140 points and the NASDAQ Composite up more than 56 points already. The S&P 500 is up more than 17 points and the New York Stock Exchange (NYSE) up more than 92 points so far.

I think this announcement will keep the markets on a positive side for the rest of the day. The announcement has put hope back into the minds of investors after the sell offs that occurred yesterday after some worries of the announcement. I believe that the momentum will carry over to the markets next week and we will get ever so much closer to the 12,000 mark in the Dow Jones, a mark we haven’t seen all month.

Even though the stock market has been rallying today, the Price of gold has increased as well. Yesterday I reported that the price of gold was at $1,769 an ounce. So far today it has seen some gains. Currently gold is at $1,781, about $12 more than what it was yesterday. It seems as if the price of gold has almost stabilized around this point. It hasn’t been as Volatile  as it has been over the weeks prior to the market’s rallies of this week. If the markets keep rallying next week, I believe that gold will go down. It may not go down to the level it was at the beginning of this year that quickly, but it will go down. We expected gold to get past the $2,000 an ounce mark but the markets have kept it at bay. The $2,000 mark isn’t very impossible. All we”ll need is another incident in the global economy and I’m sure we’ll see gold sky rocket again.

But for now, the markets are doing very well, and gold price is steady. Certain stocks have been doing great as well. Apple Inc. (AAPL) has been going down for the past few days, but today, Apple stocks have risen more than 2%, or just over $8. It is a result of the Bernanke announcement as well as investors getting used to the fact that Steve Jobs is gone and Tim Cook is in charge.

There are still more than 3 hours left until the markets close for the day (unless you’re gold), so anything can happen. I believe we will stay in the “rally” zone and hopefully by the end of the day, we will see bigger gains.