STOCK MARKET WATCH, THURSDAY JULY 10.....(#1)

[ozymandius]

Thursday July 10, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 560
REICH-WING RUBBERSTAMP-Congress = DAY 242
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 213 DAYS
WHERE'S OSAMA BIN-LADEN? 1 YEAR, 271 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 112
DAYS SINCE ENRON COLLAPSE = 597
Number of Enron Exec's in handcuffs = 17
ENRON EXEC'S CONVICTED = 0
Other Arrests of Exec's = 53

U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES




AT THE CLOSING BELL ON July 9, 2003

DJIA.......9,156.21 -66.88 (-0.73%)
NASDAQ.......1,747.46 +1.00 (+0.06%)
S&P 500.......1,002.21 -5.63 (-0.56%)
10-Year Bond....3.71% -0.03 (-0.72%)
Gold future......343.90 -0.20 (-0.06%)
DOW..........................NASDAQ.......................S&P

||


GOLD, EURO, YEN and Dollars


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

[ozymandius]

1. Good Thursday morning.

More spectacular stock market acrobatics again today? I really wonder if some of that profit taking that Radfringe saw in the ol' Magic 8-Ball will begin to realize itself. It looks like the Niger/Iraq story has all kinds of legs. Tony Blair's situation looks more unstable by the day as the BBC has him squarely in their sights.

I really was torn between the cartoon above and this one:

[ozymandius]

2. Market WrapUp by Jim Puplava

The 2 + 2 = 5 Market

Commenting on the stock market crash and the great bear market of the 1930s, Bernard Baruch was known to have said,

“Had everyone remembered that 2+2 still equals 4
a lot of suffering could have been avoided.”

That wise statement is essentially the problem that we now have today. A lot of highly paid professionals are telling investors that 2+2 = 5 or any other number you want it to equal.

The Set Up

It is believed that all of this debt will bring us prosperity and an economic recovery as it has in past cycles. Only this time the credit machine is more pro active. With this much credit and stimulus being created in the system, a much stronger economy is expected for the second half. It is for these reasons that we must now consider another strong showing in the markets this summer before the storm season starts in late September and early October.

I believe a case can be made for another speculative top in the markets before another more damaging trend in the bear market unfolds. My reason for stating this possibility is that there are factors that are now in place that could give us another strong surge in the market indexes. My belief is based on two factors: one of them is earnings and the other is the economy.

more...

[JNelson6563]

6. There are few things I will claim

expertise at, this is one of them:

It is believed that all of this debt will bring us prosperity and an economic recovery as it has in past cycles. Only this time the credit machine is more pro active.

After a very comfortable (financially speaking) youth, I found myself quite literally penniless. The bills do not stop, the are like constant little shovels. They dig 24/7, even while you sleep. You can get little windfalls, folks can help, none of it seems to make a difference. You are in a hole.

It took many years of constant plugging away and a chain of large sums hitting one after the other. Did we make it? Sure. Did we do anything others cannot, yes. We lived very plainly--most UNAmerican, I know. ;-) What makes me certain this picture is going to be much uglier than the one I had is that the debt many have is far bigger than what I ever dealt with and, it appears, the means for dealing with it all (decent paying jobs)is evaporating.

I do hold the view that some debt in tough times is acceptable, it is once you go farther than can be easily overcome that the trouble comes into the picture.

I see big trouble comin'. BIG trouble. The people as individuals and the federal government--swimming in debt. Very reckless.

Julie

[ozymandius]

8. I concur, Julie.

The spate of borrowing massive amounts of money hinges on the idea that things are going to get much better very soon. As the old adage goes: this is counting one's chickens before they hatch. I also believe that this is one force driving these unrealistic stock prices.

I have been in the situation you described above. My wife and I are in the process of digging our way out. We cannot allow ourselves to rely on convenient debt anymore because it is too expensive and it is completely reckless with today's usurious rates.

When I started my own business three years ago (high-end furniture and cabinetry), debt was necessary. It quickly got out-of-hand as the economy slumped and business took a nose-dive.

One of the worst mistakes I have made is betting on a contract before it is a done deal. I have been stung enough times to learn this lesson well. Even when a multi-thousand dollar contract might look to be in the bag, the client may pull out at the last moment. This is one reason why I am so cynical about monetary issues. And this reckless behavior of my past is echoed by the current U.S. economy, as a whole, and thus increasing my suspicion that calamity is inevitable.

[Maeve]

12. Running late, I'm afraid, but in agreement

Also been there, under a load of debt--best feeling in the world to finaly get the balance on all the cards at ZERO! But that ain't goin' happen for the government, not even a reversal of the graph under this misAdministration!

Sinking into the morning
Dow 9,091.16 -65.05 (-0.71%)
Nasdaq 1,733.14 -14.32 (-0.82%)
S&P 500 995.75 -6.46 (-0.64%)

[silverchair]

3. good morning

thanks for keeping us informed on the economy. i enjoyed the cartoons as well:) thank goodness for DU. i love the new look!!

[ozymandius]

4. Stocks to Slip as Tech Rally Loses Steam

NEW YORK (Reuters) - Stocks were poised to sag at Thursday's open as investors paused to digest recent gains and nervously eyed results from Internet media company Yahoo YHOO.O that met, but did not beat, analysts' estimates.

Hopes that the summer earnings season will turn out to be a good one have driven stocks sharply higher in recent sessions, but the rally may have run out of steam for now as Wall Street waits to see how corporate America's numbers actually stack up.

story

[ozymandius]

5. Remember: It's a JOB-LOSS recovery

Jobless Claims Up Unexpectedly Last Week

WASHINGTON (Reuters) - The number of U.S. unemployed workers receiving benefits hit its highest point in over 20 years last month, and new claims for jobless aid unexpectedly rose again last week, the government said on Thursday.

Initial claims for unemployment insurance rose by 5,000 to a seasonally adjusted 439,000 last week from a revised 434,000 the prior week, the Labor Department said. Economists polled by Reuters had expected initial claims to edge down slightly to 425,000 from the 430,000 originally reported for the week ending June 28.

<..cut..>

While most economists expect the economy to pick up over the remainder of the year after a spiritless start, they warn that labor market conditions may be slower to improve.

story

[ze_dscherman]

7. UK interest rates cut by a quarter point

The Bank of England on Thursday cut rates by a quarter point to 3.5 per cent, their lowest level in almost five decades.

Sterling fell back against the dollar and the euro on the decision, which the Bank said was in part prompted by a hesitant global economic recovery.

“Although the preconditions for recovery remain in place, the prospect for external demand for UK output is weaker than previously expected,” the Bank said.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1057562293269&p=1012571727092


See also: ECB shrugs off BoE move and holds rates
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1057562294190&p=1012571727092



And: Japan bond crash triggers interest rate rise

In the US, the fall in bond prices has already boosted mortgage rates, reducing mortgage refinancing, which has been a key support for the US economy over the past year.

Refinancing activity slumped 21 per cent last week, the Mortgage Bankers Association said on day, the biggest weekly decline since the end of November.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1057562261572&p=1045050946495

[JNelson6563]

9. It is all coming together

and what a grim picture this will be. Refi's have carried this economy.

Here comes the piper with his bill....

Julie

[ozymandius]

14. Evidence of mortgage rate increases

Little by little, mortgage rates rise
Refi activity is slowing, spurring new buyers to lock in rates

The historic wave of home refinancings, which has fueled U.S. consumer spending, looks as if it may have crested. Refinancings are declining because mortgage rates are rising again -- both locally and nationally -- after having fallen to their lowest levels in more than 40 years.

<..cut..>

Nationally, rates began to rise slightly in early June as bits of promising economic news caused financial markets to boost yields on 10-year Treasury notes, the benchmark for mortgage rates.

As a result of these increases, the rush of homeowners seeking to refinance their mortgages has slowed, while some buyers are now rushing to lock in rates in case rates go even higher.

more...

[JNelson6563]

10. starting out ugly

9:34 and here's where we are:


Dow 9,094.24 -61.97 (-0.68%)
Nasdaq 1,730.97 -16.49 (-0.94%)
S&P 500 996.44 -5.77 (-0.58%)
10-Yr Bond 3.659% -0.047


I say batton down the hatches, it's going to get rough.

Julie

[ozymandius]

11. ten minutes in

DJIA 9,085.90 -70.31 -0.77%
NASDAQ 1,727.70 -19.76 -1.13%
S&P 500 994.22 -7.99 -0.80%

[slappypan]

13. Youse guys seen this?

I don't know how seriously to take this, but I thought it was very interesting:

WALL STREET IS NOT HAPPY AT LOSING FISHER THE FIXER

July 10, 2003 -- FISHER the Fixer is gone, and the stock market didn't like it.

You are going to hear a lot of different explanations as to why the overpriced stock market declined yesterday. The main emphasis will be on worries over corporate earnings, because Wall Street is always worried about profits.

But yesterday's rapid decline in stock prices - from a peak at around 10:20 a.m. - probably had more to do with Peter Fisher resigning as undersecretary of the U.S. Treasury than anything else.

People who really live the stock market considered Fisher their life preserver. He's the guy who - rumor has it - would jump in and take action if the market started to sink.

[ozymandius]

15. It would not surprise me if that were true. n/t

[ozymandius]

16. 9:57 and seeing a little bounce

I mean "little".

DJIA 9,095.22 -60.99 (-0.67%)
NASDAQ 1,733.19 -14.27 (-0.82%)
S&P 500 995.23 -6.98 (-0.70%)

[Maeve]

20. 10:04 and more like a dribble

Dow 9,093.26 -62.95 (-0.69%)
Nasdaq 1,730.98 -16.48 (-0.94%)
S&P 500 994.28 -7.93 (-0.79%)

[jamesinca]

17. Yesterday in S. Africa Bush said he would not send troops

He would not send troops to Liberia, advisers only if anything. How will this effect the market today? Republicans in the administration were quoted as saying they can not do more than that because they are stretched to thin now. Any speculation on this admission?

[Maeve]

19. Promise help, give little or none

Sounds like SOP to me and I suspect to Wall Street--no effect unless he actually does something, my guess. More wait and see.
:hangover:

[Maeve]

18. Another bit to throw into the pot--what about Japan?

This article questions what happens if Japan is finally turning around--also note that it discusses Japan's bear rallies, informative in light of every "rally" in the US being called a return of the bulls.
When Japan begins to play
Is the Japanese economy on its way out of the woods and what does it mean for the rest of the world?
July 9, 2003: 5:27 PM EDT
By Justin Lahart, CNN/Money Senior Writer
NEW YORK (CNN/Money) - After seeing it give off enough head fakes to put Barry Sanders to shame, investors have wisely come to view the Japanese stock market cautiously.

Yet there is no denying that the rally Tokyo shares have seen recently is intense. Since hitting a 20-year low on April 28, the Nikkei index has jumped 31.3 percent.

Now Japan has had its share of serious bear market rallies since its market began to fall in 1990, but in only one of them -- a 32 percent affair back in 1992 -- did the Nikkei rise so quickly. One has to seriously consider whether Japan's economy threatens to actually dig itself out from the mire -- an event that would major implications for investors and policy-makers around the world.
<more>

[ozymandius]

22. Interesting comment here -

Many Japan watchers believe that there's not much need for investors to start reckoning what a Japanese economic revival would mean -- it just isn't in the cards.

"The dynamic of the move in stocks is you have an extremely bombed-out market coupled with a central bank that has taken a slightly more adventurous approach to monetary policy," said Russell Jones, chief international economist at Lehman Brothers, who until 2000 was his firm's Japan economist. "But in overall macro terms, the place is still a complete and utter economic disaster."

So America is not the only place where economic adventurism is afoot in choppy economic times.

[ozymandius]

21. 18-point drop in ten minutes

at 10:11
DJIA 9,077.71 -78.50 (-0.86%)
NASDAQ 1,728.81 -18.65 (-1.07%)
S&P 500 992.90 -9.31 (-0.93%)

[ozymandius]

23. 10:31 and dropping

DJIA 9,068.96 -87.25 (-0.95%)
NASDAQ 1,729.24 -18.22 (-1.04%)
S&P 500 992.75 -9.46 (-0.94%)

[Maeve]

24. 10:47 and I'll stick with "dribbling"

"Bounce" implies more movement...

Dow 9,074.70 -81.51 (-0.89%)
Nasdaq 1,725.32 -22.14 (-1.27%)
S&P 500 992.27 -9.94 (-0.99%)

[ozymandius]

26. I see.

"Dribble" as in basketball. It has been sorta up-down-up-down over a 25 point spread this morning.

[Maeve]

27. LOL--sorry, basketball family

Didn't think I might confuse folks. Mea culpa! :crazy:

[ozymandius]

28. Yesterday, I mis-typed

I said that I miss Constantina's "I Ching" forecasts. The name I was looking for is Coventina. She made the transition to DU2 and I just sent a PM saying that her participation is missed.

[Coventina]

53. Hi!

Thanks for the encouragement to get back to the I Ching readings!

Had no real reason for quitting --- just took a break for a few days and never made it back. I'll be back at it tomorrow, though! Can't wait to see what will happen!

I :loveya: guys!

:-)

[ozymandius]

25. Latest Jobless Report - amendment to last week's report

Continuing Jobless Claims at 20-Year High

WASHINGTON (Reuters) - The number of jobless Americans receiving benefits hit its highest point in over 20 years last month, and new claims for jobless aid unexpectedly rose again last week, the government said on Thursday.

Initial claims for unemployment insurance rose by 5,000 to a seasonally adjusted 439,000 last week from a revised 434,000 the prior week, the Labor Department said. Economists on Wall Street had expected claims to edge down a bit to 425,000 from the 430,000 originally reported for the week ending June 28.

The department also said the number of unemployed workers who remained on the benefit rolls after filing an initial claim jumped by 87,000 to 3.82 million in the June 28 week, the highest level since February 1983.

<..cut..>

"It was a holiday week so we don't take it too seriously. But there's not good news for economy with the rise in the number of people making insured employment claims," said David Wyss, chief economist at Standard & Poor's Rating Service in New York.

more...

One last little bit that I will paraphrase: Wyss goes on to say that it continues to be a jobless recovery.

Remember last week when they said that unemployment was at a nine-year high? Well, double that annual total.

Funny, though, how news such as this is always issued as a one-two punch. Figures are released one week, with numbers reflecting better-than-expected (or not-as-bad-as-expected) conditions. Then we are hit with a whammy the next week when the really bad news is released. I will bet that the Labor Department does not expect people to add the figures together.

[salin]

38. Jobless recovery? What a misnomer.

Shouldn't this phrase be revised to "job-loss recovery" (is it a recovery?) - Isn't this the first administration since Hoover to see a monthly and annual net loss of jobs?

[Maeve]

39. That's what radfringe calls it!

JobLOSS...of course, "recovery" is sort of suspect, too, come to think of it... :think: How about "economic quagmire"?

[ozymandius]

44. Recovery? What recovery?

Bush* has outdone his father on this one. Even at the lowest point in his pathetic job performance not this many people had lost (and continued to lose) their jobs.

Also - what's this recovery I hear about? So far, it looks to be a figment of someone's imagination.

[JNelson6563]

29. where's that fabulous 2nd half?

I thought this was going to be wonderful....

11:07


Dow 9,071.41 -84.80 (-0.93%)
Nasdaq 1,724.26 -23.20 (-1.33%)
S&P 500 992.10 -10.11 (-1.01%)
10-Yr Bond 3.671% -0.035

Julie

[Maeve]

30. The blather right now relates to your question

11:00AM: Trading screens remain awash in red figures as the indices set a steady course of new lows... Internet darling Yahoo! (YHOO 32.62 -2.67) turned in an in-line Q2 (June) report that, in many investors minds, did not merit the stock's nearly 80% climb year-to-date... Such a disgruntled response has been anticipated by Briefing.com, when we suggested in this week's Stock Brief that a key earnings report that merely meets consensus estimates would not elicit further buying interest in the name...
Part of the driving force behind the recent advance has been expectations of stronger corporate earnings growth, and if a company fails to show that in its report or guidance, investors are likely to book profits... As such, we believe that the typical earnings season rally will be muted, or even non-existent, in the June quarter reporting season...
http://finance.yahoo.com/mo

Dow 9,066.30 -89.91 (-0.98%)
Nasdaq 1,722.57 -24.89 (-1.42%)
S&P 500 992.07 -10.14 (-1.01%)

[JNelson6563]

31. heh heh

Things are fabulous, you just can't see it through all the muck. haha

Julie

[ozymandius]

32. So - the speculation was wrong.

Kind like Shrub's oil companies over the years.

[ozymandius]

33. 11:37 downdate

I gotta run our for a few hours - hopefully to return by the witching hour.

DJIA 9,056.92 -99.29 (-1.08%)
NASDAQ 1,723.90 -23.56 (-1.35%)
S&P 500 991.13 -11.08 (-1.11%)

[Maeve]

34. 11:58 downerdate and blather

Dow 9,026.66 -129.55 (-1.41%)
Nasdaq 1,716.31 -31.15 (-1.78%)
S&P 500 987.35 -14.86 (-1.48%)

11:30AM: Stock market remains on the defensive as buying remains scarce... Concerns surrounding the valuation of stocks, which have been compounded by questions regarding the economy's growth rate following the 5K rise in weekly jobless claims, have curbed buying interest... Other factors that have contributed to the negative tone of trading include the sizable losses on the major European bourses... The euro, consequently, has dropped against the dollar after the European Union said the region's currency stagnated in Q2 and may do the same in Q3...
The ECB also acknowledged that the region's economy should expand at no more than 0.4% this quarter in its decision today to leave interest rates unchanged after lowering them 50 basis points, to 2.0%, last month...
http://finance.yahoo.com/mo

[JNelson6563]

35. Tom Petty mode

free-fallin' at 12:54:

Dow 9,013.42 -142.79 (-1.56%)
Nasdaq 1,711.22 -36.24 (-2.07%)
S&P 500 985.46 -16.75 (-1.67%)
10-Yr Bond 3.684% -0.022


Julie

[Maeve]

36. 1:01 and definitely not looking healthy

Dow 9,008.17 -148.04 (-1.62%)
Nasdaq 1,709.16 -38.30 (-2.19%)
S&P 500 985.08 -17.13 (-1.71%)

edited for spelling

[Maeve]

37. 1:35 and slightly better

Dow 9,020.09 -136.12 (-1.49%)
Nasdaq 1,712.03 -35.43 (-2.03%)
S&P 500 986.49 -15.72 (-1.57%)

[JNelson6563]

40. still mighty grim

looks like the DOW may fall below the 9000 mark today....

2:16


Dow 9,009.43 -146.78 (-1.60%)
Nasdaq 1,708.94 -38.52 (-2.20%)
S&P 500 984.90 -17.31 (-1.73%)
10-Yr Bond 3.682% -0.024


Ouch!

Julie

[JNelson6563]

41. Ouch! My eyes!!

It burns:


Dow 8,999.42 -156.79 (-1.71%)
Nasdaq 1,709.10 -38.36 (-2.20%)
S&P 500 984.00 -18.21 (-1.82%)
10-Yr Bond 3.686% -0.020


It's 2:39. Please make the bad man stop.

Julie

[Maeve]

42. 3:04 and you can look again

Dow is playing around the 9,000 mark, but currently above it. where it will land? :shrug:

Dow 9,022.81 -133.40 (-1.46%)
Nasdaq 1,713.70 -33.76 (-1.93%)
S&P 500 986.38 -15.83 (-1.58%)

[ozymandius]

43. Was it something I said???

I am gone for a few hours and then I come home to this?

DJIA 9,011.53 -144.68 (-1.58%)
NASDAQ 1,711.45 -36.01 (-2.06%)
S&P 500 985.28 -16.93 (-1.69%)

[radfringe]

45. Looks like profit taking time

Bears have woken up and are hungry for their honey. Talking heads are yammering about marketeers getting into position for the release of earning reports.

Fisher the fixer huh? I like that. Jumps in to save the markets - PPT at work. We'll have to see how well his replacement does with toothpicks and toilet paper to prop things up.

9,000 mark on the DOW is still the psychological barrier - We'll be flirting with that number for a few more days. Seems the barriers are in increments of 500... 9000, 8500, 8000, etc.

Economic quagmire sounds about right, it is a job-Loss recovery. All we need now to really tank things is for AWOL to declare the economic problems are over, followed AWOL telling the Financial gods to "bring it on".... :scared:

The 'everyone is on vacation' excuse should be warming up in the bear pen and make its appearance in another week or so.

A riddle for ya:
the economy still stinks, unemployment still rises, grumblings from the people are getting louder, Niger Forgery growing legs, AWOL waffling on Liberia, and his poll numbers are sinking fast ---- how long before we go to an Orange Alert to divert attention?

Magic 8-Ball: More profit taking tomorrow. Marketeers will not want to hold positions over the weekend. We will probably close below 9,000 mark by tomorrow. But there will be bounce back on Monday and the talkingheads will spin out their pom-poms.

Meanwhile, AWOL demonstrates how to DUCK AND COVER from those nasty questions he keeps getting asked.....

[ozymandius]

52. Rad, do you ever feel like we're being punished?

Either singularly or collectively?

Bush* pretends to be president.

"Fisher the fixer" is a real person. Now he's not in the job of "fixing" things anymore.

Our country is waging horrific and illegal war.

The markets are propped up by maximizing equity in properties, thus boosting consumer debt levels.

Companies defer to layoffs in order to show profits rather than invest in home-grown performance.

Why us now?

[lanlady]

46. WP: Wall Street Rally Stalls

Weak chain store sales, and Yahoo disappoints:

http://www.washingtonpost.com/wp-dyn/articles/A38576-2003Jul10.html?nav=hptop_tb

[ozymandius]

47. At ten before close - sellers become buyers

DJIA 9,038.64 -117.57 (-1.28%)
NASDAQ 1,716.61 -30.85 (-1.77%)
S&P 500 988.67 -13.54 (-1.35%)

[jamesinca]

48. Before the day ends can somebody answer this for me

What kind of numbers was the DJ S&P and NASDAQ at during the last 4 years of Clintons administration? My mind seems to have stalled on this one.

[ozymandius]

49. Maeve has offered a link to historical data before.

There is a searchable stock market database somewhere. Let's hope Maeve, or someone, answers.

[Maeve]

55. Sorry to be late on this

Thunder storms continue across Ohio and I really don't like testing the surge protector!
Tahoo has links to all the historical data--go to this page--http://finance.yahoo.com/mo --and click on the name of the index you want under the charts on the left. From that page you can go to charts, historical data, etc; just look around on and you'll find the links!
Or have fun playing with the big chart here: http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=djia&time=&freq=
It will also give you data galore!

[JNelson6563]

54. here is a link to the DOW

that has info for those years.

http://table.finance.yahoo.com/d?a=0&b=1&c=1997&d=0&e=1&f=2001&g=d&s=%5Edji

You could change the settings for whatever you want to track.

Julie

[ozymandius]

50. 4:03 - don't know if it is final

DJIA 9,036.04 -120.17 (-1.31%)
NASDAQ 1,715.69 -31.77 (-1.82%)
S&P 500 988.66 -13.55 (-1.35%)

[ozymandius]

51. It's final. Do you really want to look?

DJIA 9,036.04 -120.17 (-1.31%)

Nasdaq 1,715.69 -31.77 (-1.82%)

S&P 500 988.67 -13.54 (-1.35%)

10-Year Bond 3.68% -0.03 (-0.78%)

[Davis_X_Machina]

56. We'll end the week under 9000....

...nothing seems capable of sustaining the Dow higher than 9000 for more than a few days.

Might have to wheel out Bin Laden's corpse, or some Saddam DNA.

[lyonn]

57. Don't play the market but,

The only reason I can see for the market rising is Bush's friendly corporations are helping him and themselves all they can. Dummies like me think maybe with the maket rising that things must be showing something promising for the economy. NOT! Could the Corps be making this happen?