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There's no buy the rumor, sell the news action today as stocks soar following Draghi's expected...

There's no buy the rumor, sell the news action today as stocks soar following Draghi's expected official announcement of a new ECB bond purchase program. Less noticed, but also of great interest was a big beat from the ADP jobs report. S&P 500 +1.3%, Germany's Dax +2.5%, Spain's IBEX 35 +3.9%, Italy's MIB +3.9%.
Comments (12)
  • tom_t
    , contributor
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    All of the problems have been fixed. Good to know.
    6 Sep 2012, 10:08 AM Reply Like
  • David Urban
    , contributor
    Comments (1036) | Send Message
     
    Do we give this rally one or two days before it fails?
    6 Sep 2012, 10:08 AM Reply Like
  • WMARKW
    , contributor
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    Profit taking Friday.
    6 Sep 2012, 12:05 PM Reply Like
  • anonymous#12
    , contributor
    Comments (552) | Send Message
     
    That was Art Cashin ranted on CNBC .....that was in June 2009. That the rally would fail.....
    6 Sep 2012, 03:10 PM Reply Like
  • Zmartmoney
    , contributor
    Comments (1143) | Send Message
     
    This is supposed to give credence to the idea that Obama needs another term to finish the job. One more term should finish us off nicely. The numbers and the prices are a temporary charade. It'll all be over by Monday or Tuesday of next week, unless Helicopter Ben gets airborne and everything gets pushed up by expectations of devaluation.
    6 Sep 2012, 10:16 AM Reply Like
  • tom_t
    , contributor
    Comments (258) | Send Message
     
    I have an "Apocalypse Now" image in my head of Helicopter Ben taking off with "Ride of the Valkyries" playing in the background.

     

    He might have the same image in his head, come to think of it.
    6 Sep 2012, 10:33 AM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Looking for a rip even higher from here: and then a correction after Sept exp.
    6 Sep 2012, 12:19 PM Reply Like
  • mfritz095
    , contributor
    Comments (21) | Send Message
     
    Once it really hits just how many billions of euros in bonds the ECB will have to buy and it still won't solve the problems for Spain and Italy, look for the train to run off the track.
    6 Sep 2012, 12:35 PM Reply Like
  • Zmartmoney
    , contributor
    Comments (1143) | Send Message
     
    It all seems to have become slo-mo. All the laws of physics have been turned on their heads, due in no small part to phantasmogoric manipulation by all the central bankers around the world, juggling their bowling balls. Does that mean that we'll see a sudden, gut-wrenching correction when the bowling balls teeter for a moment and then start to fall? I'm mostly out of the market except for a few downtrodden stocks that have been rumored into near-oblivion and have some near-term movement back up from the tar pits. I trust this thing as far as I can throw it.
    6 Sep 2012, 01:05 PM Reply Like
  • tom_t
    , contributor
    Comments (258) | Send Message
     
    Remember those 800-point, 900-point, 1000-point down days during the 08-09 crisis?
    6 Sep 2012, 03:36 PM Reply Like
  • Joseph P. Porter
    , contributor
    Comments (643) | Send Message
     
    Since they usually end up correcting economic data a month or so after it's initially released, I'll save the celebration until next month. And the data only mentions an increase in the number of jobs - we also need to see the unemployment figures before the ADP numbers mean anything. I try not to believe August and December employment data.
    6 Sep 2012, 05:07 PM Reply Like
  • jaceromeo
    , contributor
    Comments (8) | Send Message
     
    That's a really nice band-aid Draghi put over Europe's gushing bullet wound.
    6 Sep 2012, 05:15 PM Reply Like
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