Markets Hit 2011 With A Jump

Markets held onto a rally Monday, spurred by news of continuing manufacturing sector growth. The Dow gained .98% in mid-morning trading, the S&P 1.24% and the Nasdaq 1.7%. But don’t start firing up your Scottrades and Etrades just yet unless you’ve got a fifth of Pepto in your desk drawer. 2011 is looking to be just as rocky as ever.

Wall Street Starts New Year With a Jump [NYT]

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  1. YokoOhNo says:

    I hope goldman, citi and BoA have a better 2011 than 2010…the recession really hit those companies hard, limiting their profits to simply “revolting” rather than “obscene”.

    • Blueskylaw says:

      Bank of America is up almost 5.5% right now. Of course, there is no good reason why.

      • YokoOhNo says:

        Maybe because the government agreed to settle for only $3.3 billion?…means they settled too low. the profits realized from the fraud were significantly more than the $3.3 billion they have to pay.

  2. Stubtify says:

    Average investors historically are terrible at timing the market… and are actually 180 degrees off from where they should be. When markets are down they flee, when they’re up they all jump back in.

    There is also a disconnect between what is big news to market players, and industry professionals, and what should be important to average people. People don’t really stop to take in these thoughts, but if the market is up 2% that is a HUGE day–for the market– but for an investor 2% isn’t all that amazing, especially given the fact that they have to pay a commission to buy and sell. I love when people say “wow did you see how great the stock market was today” and then I press them for what they’re invested in and they say “oh nothing, but I heard it was a really good day.”

  3. qwickone says:

    Almost all of my money is in Emerging Markets right now (mostly S. America and Asia). I have a feeling that’s where it will be staying for a while…

    • Blueskylaw says:

      Emerging markets is slang for crappy third world debt. They wanted to name it less developed countries, then developing nations debt, then emerging markets which sounded sexier than all the other names they had.

      • qwickone says:

        You can call it crappy if you want, but I’m seeing 20%+ returns (just over the last year though, that’s when i got in). I’m keeping an eye on it, but it’s doing well for me!