Posted on 10/13/2008 1:04:53 PM PDT by NYC Republican
Stocks rallied Monday afternoon, with the Dow up over 800 points during the session, as investors bet that the worst of the credit crisis is over, following a series of global initiatives announced over the last few days. The Dow Jones industrial average (INDU) gained as much as 814 points and over 9% before pulling back a bit. The advance was the largest ever during a session on a point basis.
(Excerpt) Read more at money.cnn.com ...
Obama campaign is not going to like this.
nice change of pace
The NYSE has become little more than a crap shoot
I love how they’re crediting the rise to socializing banking. Morons.
I would have preferred several days of 100pts up... but I’ll take this... Major Schadenfraude (sp) to those that panicked and sold... They’re the only ones who really lost... They listened to the MSM and Dems talking down the economy, all in the name of bringing down the GOP and electing Zero, and got burned... Hopefully there’s more to come.
Dead cat bounce?
IBTDCBC
(In before the Dead Cat Bounce comments)
Nope.
I think it’s a Morgan Stanley/Mitsubishi bounce. MS was on the brink. The fact that the deal went through saved the markets.
It always has been except the cr#p is just larger now
And somewhere, 0bama is dumping a brick
oh the dem’s will find a way to spin to their advantage....
I’m sure glad I kept my money in......have to admit it was tempting to bail.....
The stock market has ALWAYS been your local casino with better PR.
I for one would like to see it up or down about 50 points on light trading soon. Ho hum would be nice.
It’ll be interesting to see the next few days. Will it yo-yo? Will it keep going up? Will it drop again? This is a bizarre market right now.
RE: “The NYSE has become little more than a crap shoot”
Exactly. As for today’s big “bounce” back — time will tell — I think this is little more than a sucker’s rally.
The MSM will just credit this as the result of the news that Obama got out of bed this morning.
-PJ
Probably. They are too stupid to realize that this has nothing to do with the rats’ failure of bailout plan. If McCain is smart, he’ll come forward with a tax goody for investors and retirees to keep the rally going.
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