Market recap: Investors celebrated greater European resolve to shore up the eurozone, driving...


Market recap: Investors celebrated greater European resolve to shore up the eurozone, driving stocks higher and Treasury prices lower. The spark came from ECB's Mario Draghi, who said the ECB is ready to do "whatever it takes" to preserve the euro, causing the currency to soar. Energy stocks led the charge, even as oil prices rose only modestly. NYSE gainers led losers two to one.
Comments (8)
  • torahislife
    , contributor
    Comments (400) | Send Message
     
    This time Draghi repeated it with even more conviction!
    26 Jul 2012, 04:14 PM Reply Like
  • azblackbird
    , contributor
    Comments (358) | Send Message
     
    Just another short squeeze. Gravity is going to win eventually. I'm just patiently waiting for it to all fall apart (albeit temporarily) to buy in at the bottom, or at least close to what I think the bottom will be.
    26 Jul 2012, 06:19 PM Reply Like
  • birdmaestro
    , contributor
    Comments (128) | Send Message
     
    Is it possible that there could be a coordinated U.S./Euro QE brewing?
    26 Jul 2012, 07:45 PM Reply Like
  • azblackbird
    , contributor
    Comments (358) | Send Message
     
    Yeah, that'll work, run equities and commodities into the stratosphere and watch businesses hire like gangbusters. We'll be down to 5% unemployment in no time. NOT!

     

    Time for a re-set. You can't save everybody. There has to be winners and losers. The longer you prolong the inevitable, the worse it's going to be.
    26 Jul 2012, 08:19 PM Reply Like
  • Matthew Davis
    , contributor
    Comments (4709) | Send Message
     
    Sold out of a position today, and if rally continues will sell out of another and wait for things to really fall apart. This guy has no business writing checks his ass can't cash.
    27 Jul 2012, 12:47 AM Reply Like
  • User 353732
    , contributor
    Comments (5135) | Send Message
     
    How can more bad money used to inflate more bad debt which is used to further imbalance consumption over production create any real wealth?
    When wealth destruction boosts stocks then we know that equity "markets" have been debased into engines of manipulation.
    27 Jul 2012, 05:24 AM Reply Like
  • quickrick
    , contributor
    Comments (36) | Send Message
     
    For nearly two years it was Merkel and Sarkozy coming out with statements of 'hope and promise'. Their words now bear the 'cry wolf' label. So now Draghi states another message of 'hope and promise'...a message that is nothing more than an opinion with no facts. Just words - where's the cash?

     

    What I'd like to know is who are the idiots who bid up stocks to the effect of 200+ on the Dow? Seriously, somebody must track this sort of thing. I'd like to know is it fund managers, private investors? Who is so stupid? I'd like know by the numbers and the percentages who is responsible for this stupidity. Where would you find such data?
    27 Jul 2012, 05:31 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (4709) | Send Message
     
    All the Europeans with E*trade accounts! :)
    27 Jul 2012, 10:09 AM Reply Like
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