Posted on 03/26/2009 1:20:21 PM PDT by SonOfDarkSkies
Building on what could be one of Wall Street's strongest monthly performances ever, the Dow soared 175 points and the Nasdaq Composite turned positive year-to-date Thursday thanks to big gains from tech stocks and retailers.
Today's Markets
The Dow Jones Industrial Average rose 174.75 points, or 2.25%, to 7924.56, the S&P 500 gained 18.98 points, or 2.33%, to 832.86 and the Nasdaq Composite picked up 58.05 points, or 3.80%, to 1587.00. The consumer-friendly FOX 50 added 13.09 points, or 2.15%, to 622.88.
“The feeling on the floor is pretty optimistic. People are sensing that perhaps this thing is turning a little bit,” NYSE trader Bernie McSherry of Cuttone & Co. told FOX Business.
The markets were buoyed by a number of positive stories on Thursday, including better-than-expected results from BestBuy (BBY: 37.66, 4.27, 12.79%), upbeat analyst comments on tech stocks like Google (GOOG: 353.29, 9.22, 2.68%), and solid demand for a 7-year Treasury auction. At the same time, Wall Street breathed a sigh of relief after a pair of economic reports offered no negative surprises for traders.
(Excerpt) Read more at foxbusiness.com ...
I am thinking the same thing, EPU.
LOL...I am going to wait for 9300, since most will jump out at 9500 thinking everyone else will jump at 10. ;-)
I read one analyst say that this is a bear market rally up until 9,000...if it passes 9,000 we’ll have to call it a bull market.
Wake me when the DOW gets to at least 11,000. Until then, these are not gains, they are cuts in losses.
I will check it out.
I am a retired investment banker but of course the securities business is more than just IB.
In my 25 yrs of experience, I have not encountered a case such as the one you mention but that doesn't mean it doesn't exist. I found the folks in my business to represent human beings of all types...some were fanatically ethical, some less so. Some were amazingly creative...most were followers. All were opportunistic!
In retrospect, I wish I had gone in another direction. But most of us would do it differently if we could do it over again.
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