* THIS IS AN ALERT
Friday, September 21, 2012
Thursday, September 20, 2012
DOW 12000 A REAL POSSIBILITY IN A FEW WEEKS
* FISCAL CLIFF PRESSURE AND A DISORGANIZED QE3 AHEAD OF THE ELECTIONS CAN SEND SHIVERS DOWN WALL STREET.
New York City
We have enjoyed a good rise in the markets for many months. No summer doldrums in 2012 but we had a mid spring pullback in between this rise that began more than 13 months ago. Dow 10,700 to Dow 13,600 is 2900 point increase or 27 percent rise. That is huge considering that we are in a multi year rally that began in 2009 from 6500 level or 7000 plus point add on to this 30 stock elite index. So while Wall Street is getting more excited on stock prices lately, the enhanced rally caused by QE3 may have come as a sign of weakness from the Fed. With no power of easing anymore, the Fed is trying new ways of sustaining this economy. Buying distressed mortgages sounds complicated to me. Whether it works or not in the long run, an imbalance in stock prices has been created in the short term. The elections come in with Obama leading the race and a Wall Street bull for most of his presidency. And international instability is something that could come into play at crucial times such as presidential elections. Last year we had a good October, this year I expect the opposite. So if the Dow drops more than 1000 points in coming weeks, don't worry unless something more serious develops. A strong support area at Dow 12000 should provide buying oppurtunities for the long term bulls.
New York City
We have enjoyed a good rise in the markets for many months. No summer doldrums in 2012 but we had a mid spring pullback in between this rise that began more than 13 months ago. Dow 10,700 to Dow 13,600 is 2900 point increase or 27 percent rise. That is huge considering that we are in a multi year rally that began in 2009 from 6500 level or 7000 plus point add on to this 30 stock elite index. So while Wall Street is getting more excited on stock prices lately, the enhanced rally caused by QE3 may have come as a sign of weakness from the Fed. With no power of easing anymore, the Fed is trying new ways of sustaining this economy. Buying distressed mortgages sounds complicated to me. Whether it works or not in the long run, an imbalance in stock prices has been created in the short term. The elections come in with Obama leading the race and a Wall Street bull for most of his presidency. And international instability is something that could come into play at crucial times such as presidential elections. Last year we had a good October, this year I expect the opposite. So if the Dow drops more than 1000 points in coming weeks, don't worry unless something more serious develops. A strong support area at Dow 12000 should provide buying oppurtunities for the long term bulls.
ASTORIA HOMEOWNERS TENANTS BUSINESS CIVIC TO MEET NEXT WEEK
ATTENTION MEMBERS & ASTORIA AND EAST ELMHURST COMMUNITY
PLEASE ATTEND THIS VERY SPECIAL MEETING ON
THURSDAY SEPTEMBER 27TH, 2012
7:30 PM
ST FRANCIS OF ASSISI SCHOOL BASEMENT
21-47 45TH STREET ASTORIA NY 11105
SPECIAL GUEST SPEAKERS
IGNAZIO "IGGY" TERRANOVA
CITYWIDE COMMUNITY AFFAIRS OFFICER NYC DEPT OF SANITATION
MICHAEL JONES
FIREFIGHTER, FIRE SAFETY EDUCATION NYC FIRE DEPARTMENT
STEPHEN CIRABISI
DEPUTY INSPECTOR 114TH PRECINCT
UPDATE ON OTHER COMMUNITY ISSUES
PLEASE ATTEND THIS VERY SPECIAL MEETING ON
THURSDAY SEPTEMBER 27TH, 2012
7:30 PM
ST FRANCIS OF ASSISI SCHOOL BASEMENT
21-47 45TH STREET ASTORIA NY 11105
SPECIAL GUEST SPEAKERS
IGNAZIO "IGGY" TERRANOVA
CITYWIDE COMMUNITY AFFAIRS OFFICER NYC DEPT OF SANITATION
MICHAEL JONES
FIREFIGHTER, FIRE SAFETY EDUCATION NYC FIRE DEPARTMENT
STEPHEN CIRABISI
DEPUTY INSPECTOR 114TH PRECINCT
UPDATE ON OTHER COMMUNITY ISSUES
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