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Markets Open Flat After Gangbusters Monday

Wall Street opened flat this morning as investors await pending home sales data later this morning, following a Monday rally that pushed the S&P 500 to its highest close in seven months.

In the first 15 minutes of trading, the Dow is up about 7 points, or essentially flat.

The broader S&P 500 and the tech-heavy Nasdaq are flat, as well.

The National Association of Realtors releases its pending home sales for April later this morning. The index ticked upward in March.

The markets have been on a 25-percent-plus winning streak since bottoming in early March, so traders are expecting a pullback, or slight sell-off, oh, any day now. Of course, they've been saying that for the past couple of weeks.

-- Frank Ahrens
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By Frank Ahrens  |  June 2, 2009; 9:46 AM ET
Categories:  The Ticker  | Tags: Dow Jones, National Association of Realtors, nasdaq, s&p 500  
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Next: Pending Home Sales Jump In April

Comments

Capital markets are unstable. In the past there was no way to make them stable. But today we have computer power that can be used to make them stable.

By using the greater computer power of today we can have a much higher turn over of capital in the capital market. This higher turnover will make the market harder to game or control and the market will no longer have the unstable run ups or declines. Who can change or control the market when say 20% of the capital is trading each day?

So now that we have the compute power to provide for all these transactions that will smooth out the market how do we force people to turn over at a rate of 20% a day? Easy, put a cap gains tax of 0% (zero) on all gains of 7 days or less and put a cap gains tax of 90% of all gains of more than 7 days.

The likes of Yahoo, Micosoft and/or Sun Micro Systems will give us the systems that will provide automated software agents to support turning over one's investments every 7 days (based on the specs you give the agent).

A system like this will make the financial markets work as smoothly as the local fruit market.

Posted by: martynstrong | June 2, 2009 1:56 PM | Report abuse

The comments to this entry are closed.

 
 
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