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Market Currents

Monday, March 23, 2009
4:01 PM TweetThis
  • Stocks overcame early jitters about the Treasury's toxic-asset plan to surge about 7% - the biggest one-day gains since the November bear-market rally. DJIA +6.89% (+501.14) to 7,779.52. S&P +7.13% (+54.83) to 823.37. Nasdaq +6.76% (+98.50) to 1,555.77.
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This news story has 3 comments:

  •  
    Can you spell "Irrational exhuberance" boys and girls?
    2009 Mar 23 04:05 PM Reply
  •  
    I wouldnt take too much value in this rally. Its a momentum maket and today the momentum was to the upside, mix that with a plan that fools the public investor to believing that we have formed a bottom and fuel is thrown on the fire. Watch as we close the week below todays high.
    2009 Mar 23 04:11 PM Reply
  •  
    Lot of columinsts and bloggers, that I like, are all saying that this is just a bear market rally. Given the pessimism that existed around S&P~660 and this disbelief, I am tempted to think that indeed this is the bottom out process.

    Is there no chance that Fed's quantitative easing and Geithner's plan would successfully negotiate the remaining-would-be-dow... and create a platform for upside? Its a different matter whether we think the plan is good or bad, but would it do no good to the upside?
    2009 Mar 23 04:22 PM Reply
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