Stocks Could Skyrocket After March 12th

[GG]

http://www.cnbc.com/id/29549920


Investors such as Jon Najarian are hopeful that stocks could soar next week. They say we could see an explosion to the upside after a meeting scheduled for March 12th.

On that date, a House financial services subcommittee plans a hearing on mark-to-market accounting rules, which have been blamed for forcing banks to report billions of dollars in write-downs.

Karen Finerman has long been an advocate of putting these rules on hiatus for a while and "letting the banks breathe."

If that meeting results in the government relaxing mark-to-market rules, optionMonster Jon Najarian thinks the stock market could explode. On Wednesday he told us, "if the government relaxes mark-to-market for 12 to 18 months you could see financials move 100% in a matter of hours."

And he went on to say, "In fact, I hope you'll replay the soundbite because if the government relaxes mark-to-market accounting a number of banks stocks will be unbelievable values at these levels."

[Neptune]

Look you, I don't want to be a naysayer and all, so "nay", I just won't say.


It's just a feeling I'm having lately, but I concur.  For some reason I'm actually beginning to feel more confident about the market.  It's not just financials, but a couple of other things are going on that makes me think the market is about to see an uptick.  Don't wanna be too specific, other than to say at least part of the Stimulus bill will help, credit-flow seems to be increasing slightly, and the markets seem to have already calculated in a lot of downside. 

Today, the economic news was nightmarish.  A full blown horror story.  Yet, the Dow gained slightly.  If the Dow can't drop on today's news, that means market prognosticators don't know squat.  They have no clue what drives this market.

It's just today.  Tomorrow maybe I'll be bracing for 4000 again.   

[Conan71]

One of the speculatative reports when the Dow was about 8500 and that it could go down to 5000 also mentioned something about a sucker's rally.  I think there's been enough bad news to go around for the last six months that nothing is unexpected at this point.  Of course it may be ready for a dive below 6K by the end of next week too.  I may regret not averaging down GE when it went down to 5.87 the other day, but sure as I would have done that, I probably could have bought more at $4 in a few weeks.  I hope that's not the case, and amongst some tempting buys out there, I need to think about short term liquidity as well.

Anyone see Cramer's rant that the SEC should shut down the SKF ultra-short fund b/c it is unecessarily beating bank stocks down further?  I agree there's a lot of people suffering at the hands of short sellers right now.

[nathanm]

I hope mark-to-market gets suspended, or at least modified.

It's pretty stupid to force a company to value an asset at its market price when there is no market for the asset. In the case of loans or that have no market value the held to maturity value is what should have been used all along. More than a few people are too firm a believer in the invisible hand of the market always coming up with the most rational pricing.

[RipTout]

Dow to 5000....

Oil to $70 by Nov.

[guido911]

Although I thoroughly supported Santelli's rant, Jon Stewart completely ripped CNBC (the source for this thread).  Here ya go, for those that have not seen this:

http://www.comedycentral.com/

[Neptune]

Although I thoroughly supported Santelli's rant, Jon Stewart completely ripped CNBC (the source for this thread).  Here ya go, for those that have not seen this:

http://www.comedycentral.com/

Yeah, CNBC, really any economic analyst, they are all running jokes right now.  They have no clue what's going on, they've never known.

I don't know why it's necessary for those folks to exist. 

I guess it's a bit like reality TV.  It may be crap, but people watch crap.  TV networks make a ton of money on what can literally be described as crap.

[RipTout]

Sick Rantelli: http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=cnbc-gives-financial-advice

The Evisceration Tango.
Jon Stewart grabs CNBC by the throat, and they DANCE!


and, another reason why you just can't trust  what they say: http://www.thedailyshow.com/video/index.jhtml?videoId=220254&title=joe-nocera
CNBC missed the entire story....they rate right up there with FOX.

http://www.thedailyshow.com/video/index.jhtml?videoId=220253&title=the-dow-knows-all
"The American public approves of Barack Obama's performance, but they're wrong. "


GECC is sinking GE. It is amazing how many boards have turned to political commentary and discussion. Maybe we are finally waking up to the corruption, greed, and lack of representation we have gotten from all levels of government- both parties!