Stock Market Gains 300 pts in the Last Hour of Trading

DOW ^ | 2/12/2009 | Self

[RckyRaCoCo]

Dump tax cuts(home purchase deductions)and replace with more free money(mortgage bailout $70B)...what’s there not to like? /s

[Reagan69]

The fix is in?

And now Judd Gregg is ruining BO’s day a is the news this afternoon... unless of course, you’re watching CNN, MSNBC or some others.

[oldleft]

The Dow Industrial index is only 30 stocks, but the stock market is thousand of stocks.

The good and bad news only move the market within a narrow band. Most stocks are valued within that band using several mathematical models. Even technical traders won't go above or below the consensus valuation of a share.

The trick is trying to translate the news into numbers which will effect the valuation. When a bank has a write down analysts scrabble to try to estimate how much of a decrease in assets and dividends will be on the next SEC filling. Right now, it looks like the estimates a few months ago were right, and that's why the market hasn't moved a whole lot the last couple of months.

[colorado tanker]

Maybe because for the first time this week we got through a day without Obama, Geithner or Bernanke saying something stupid or Congress doing something stupid?

[PerConPat]

Dump tax cuts(home purchase deductions)and replace with more free money(mortgage bailout $70B)...what’s there not to like? /s

Hallelujah! Free at last! And if that mocking bird won't sing, ObamaMama's going to buy us a diamond ring...or a house. /sarc

[frithguild]

Nothing unusual here. The Dow has been building a bottom for this whole earnings season. Support has been in the 7700 area, which was the post 9-11 low. The whole question has been whether it would break below that.

[navysealdad]

Explained on TV: If a person had a mortgage payment of 1800.00 month and can’t make the payments than they would reduced your payments to 1200.00 a month, mortgage holder would take 300.00 and goverment 300.00.
$1800.00 - $600.00 = $1200.00

[Cicero]

Yes, I think the Cubes are a much better indicator (QQQQ). But the Dow is what everybody hears about, so it has a lot of influence.

[proud2beconservativeinNJ]

However, Me thinks, the FED is buying, and they have been doing this for a while.

Me thinks so too. Billions of bailout money unaccounted for.......

[varina davis]

I think that’s entirely possible!

[PerConPat]

mortgage holder would take 300.00 and goverment 300.00. $1800.00 - $600.00 = $1200.00

Nice work if you can get it, huh?

No doubt there will be many safeguards in place to ensure that taxpayers are reimbursed, since they will be footing the bill for the government's end of the bargain. /sarc

[TwelveOfTwenty]

Bargain hunters?

[nyconse]

Why is the plunge unavoidable...not being argumentative or doubting you-want to know why? I can not figure this market out...it seems emotion driven...also, how do they know what anything is worth these days? I took a beating in the market so...

[nyconse]

I’m out of the game...I lost enough money. The small investor just can not win.

[jwalsh07]

Anything for the dumb asses who live within their means?

[Osage Orange]

Small number of companies?

Not from my view...but maybe I've got 20-10 vision.

[jwalsh07]

Plunge isn’t unavoidable but a look at DOW 20 year chart makes 6500 or a bit below eminently possible. WHich is why snarks is right, a lot of folks don’t want another downleg from here breaking through 7600 because the next stop will be y=mx+b which would make the DOW about 6500.

[edcoil]

Yes, I was being more specific then what was taken.

[Mad Dawgg]

"There seems to be some magical floor at DOW 8000. I am starting to wonder if something could be going on. IMHO There was NO REASON, NEWS WISE, FOR THIS RUN UP in the last hour."

Dead Democracy Bump?

[Mad Dawgg]

"Stock Market Gains 300 pts in the Last Hour of Trading"

Doomed Republic Bounce!