CHEERS! Dow Up Nearly 1,000 Points!

COMMENTS (8)

• Nobody is breathing easier because it is only one day’s trading. If the Dow is back to 11,000 by the end of this month, then there will be some comfort but a one day jump of 900 when the market dropped 2400 oiver the last eight days is pretty meaningless.

  Comment by richard — Monday October 13, 2008 @ 2:23pm PDT  Reply to this post

• Interestingly, the only company of the 30 Dow Components that declined today: GE.

  Comment by Brett — Monday October 13, 2008 @ 2:32pm PDT  Reply to this post

• The fact that we had the biggest jump ever is more scary to me than anything. The market is so freaking jumpy and impulsive. There is no reason to have these types of swings ever in either direction. Look at the long term picture.

  Comment by rufustfirefly — Monday October 13, 2008 @ 3:52pm PDT  Reply to this post

• Please… this is actually SCARY. Take a look at history folks — the four biggest single day jumps for the stock market (percentage wise) all happened in the middle of the Great Depression. Today would be the 5th biggest by my reckoning. That is not good. That is a sign of a scared, frightened market that’s essentially bi-polar at this point and is not trading on fundamentals, but instead on impulse and emotion.

  Comment by dude66 — Monday October 13, 2008 @ 5:22pm PDT  Reply to this post

• It’s Bush’s fault–no, wait!

  Comment by SurferDoc — Monday October 13, 2008 @ 11:23pm PDT  Reply to this post

• Governments around the world are simply reinflating the bubble. All markets need to have corrections now and again, and every time a correction has loomed in the last ten years, the Fed and other central banks have intervened to lower interest rates, inflating the bubble further.
  Right now, governments are trying to divorce the stockmarket from the real economy and get the tail to wag the dog. They believe that if the stock market and financial sector do well, the real economy will bounce back. What should actually be happening is a dip in stock prices to reflect the fact that the world is headed for recession. But we can’t afford that because the bubble has become so big that if it bursts, it could lead to meltdown. So we inflate the bubble one last time – and this really is it because once governments intervene there is no place left to go.
  In the UK part of the bailout deal for banks is that they must lend at their 2007 levels. That was a time in which people were borrowing record amounts of money. By insisting on this the British government is forcing the banks to flood the market with yet more easy money, encouraging people and businesses to add to their debt, whilst ignoring the fact that the real economy is headed for recession. Very irresponsible behaviour. I only hope the US leaves that particularly gem out of its bailout. Let the banks respond to the market, don’t impose false lending requirements. We’re not out of the woods yet.

  Comment by Agent Assist — Tuesday October 14, 2008 @ 6:09am PDT  Reply to this post

• yay – goodnewshollywooddaily.com now.
  (as opposed to doomsdayhollywooddaily.com which it was becoming )

  Comment by Troy — Tuesday October 14, 2008 @ 7:17am PDT  Reply to this post

• The Dow, on Tuesday and Wednesday, has now lost ALL of the points it gained on Monday. So much for breathing easy.

  Comment by richard — Wednesday October 15, 2008 @ 1:01pm PDT  Reply to this post