It was also the S&P’s 6th largest point gain ever, back above 900 after rallying 91 points. The Dow came back 899.35 points to inch above 9,000. NASDAQ was up over 9.5%, for its 4th largest one-day point gain ever. Here are the Big Media numbers:
TUESDAY, October 28, 2008
GE (NBC Universal) +1.76 (+9.93%) $19.49
Disney +2.54 (+11.89%) $23.91
News Corp (Fox) +1.38 (+17.51%) $9.26
Time Warner +$1.29 (+14.64%) $10.10
Viacom +$.80 (+4.28%) $19.51
Sony Corp +$2.81 (+$14.65%) $21.99
CBS +$1.05 (+13.50%) $8.83
DreamWorks Animation +$1.88 (+7.34%) $27.49
Marvel Entertainment +$2.14 (+7.48%) $30.74
Editor-in-Chief Nikki Finke - tip her here.


Bear market 101.
We haven’t yet seen CDS or other derivatives out yet, we haven’t seen cramdowns or mark-to-market of garbage MBS paper, there’s an awful lot of junk out there yet to be worked through..
Buckle your seatbelts, ’cause it’s going to lose more than half of this gain by close of business tomorrow. I hate to be a pessimist, but the market is being driven by speculators at this point and most of them are going to take the money and run…