Word: stockings
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...longer term, we have to view this in the context of a base-building process, which means that we are probably going to go back down and retest the lows before this process is over. [The stock market's lows were 667 on the S&P 500 and 6440 on the Dow, both reached in early March...
...base-building allows this rally to continue for a while, but you're also saying that it could take the Dow back below 7000? What determines our fate? Whether we return to the lows will really depend on what happens to the financial-sector stocks. The government has provided many new programs to help fix our banking system, and how those programs work will determine whether the financial stocks have to go to new lows. The broader stock market has been building a technical base since October, but financial stocks are just starting to build a base. The risk...
...there any parallels to this stock market? We've likened this market to 1937 and 1938. In '37 you saw a 50% correction within the equity market. But in 1938, from March '38 to November '38, the market had a 60% rally. That was all part of a base-building process. The stock market really didn't make its low until 1942, and that was a marginal new low - all in the context of building a base. So what we're trying to tell investors is that the key to this market now is patience - that this is going...
...only I'd listened to CNBC, I'd have $1 million today--provided I had started with $100 million.' JON STEWART, Daily Show host, lampooning the business network through a video montage of bad stock-market predictions made by CNBC analysts...
...Almost every stock is down! Any stock you recommended is bad. You know, Warren Buffett, I could run tapes from him--he would look like a complete fool.' JIM CRAMER, host of CNBC's Mad Money, defending the network and saying the CNBC clips were taken out of context...