Market up over 900 POINTS!!!

[aut0sh0cker]

What does e90post think of this record-breaking point gain? Do you think this foreshadows a long term rebound in the economy, or just a single day's fluctuation? Discuss...

[aut0sh0cker]

mods, delete this thread plz... someone beat me to it!

[Cloud9blue]

this is why i never recommend my parents putting money in the stock market. you never know what is going to happen.

this is probably just because people start to purchase stocks again when it hits its lowest last week, hoping to earn some cash. the economy is not going to rebound that quickly unless it fundamental problems are solved.

[chrisE92]

Originally Posted by BMWnator

this is why i never recommend my parents putting money in the stock market. you never know what is going to happen.

this is probably just because people start to purchase stocks again when it hits its lowest last week, hoping to earn some cash. the economy is not going to rebound that quickly unless it fundamental problems are solved.

+1 I don't think this can be regarded as an indicator of our economy rebounding. but it's definitely good because it shows some account of confidence

[Maestro]

it just the market makers playing with the market. It will continue to bounce around for a while I bet. You see big up days as well as down for a while. It the people who have liquid money are jumping in and buying up the try and true stock and they will sell them tomorrow if they thing they will drop again.

[Voltigeur]

"Stocks Soar by 11% After Aid to Banks "

- point made

[Blake]

i think it's too early to tell. i personally don't have much trust in the markets right now. it is a big gain amongst a couple weeks of big fluctuations. good time to buy...maybe. but who knows what tomorrow is going to look like...and the day after... and next to a few months down the road. i'll consider it a sign that we're not in flat line.

[Voltigeur]

Originally Posted by blakepilot

i think it's too early to tell. i personally don't have much trust in the markets right now. it is a big gain amongst a couple weeks of big fluctuations. good time to buy...maybe. but who knows what tomorrow is going to look like...and the day after... and next to a few months down the road. i'll consider it a sign that we're not in flat line.

Agreed - lots of volatility ahead, but this is a HUGE move designed to restore confidence and get bank credit flowing:

"[The Treasury] is expected Tuesday to roll out a wide-ranging effort to restore confidence to the battered banking system, following similar moves by European governments that sent global stock markets soaring. The initiatives will likely supersede many of the government's previous efforts. One central plank of these new efforts is a plan for the Treasury to take approximately $250 billion in equity stakes in potentially thousands of banks, according to people familiar with the matter, using funds approved by Congress through the $700 billion bailout bill."

[GreenThree]

According to some reports, this does not indicate an absolute upward trend

[chuck92103]

I don't know where the bottom is. But I am finding it easy to make 5-10% per day.

[lauer87]

The bottom of ~8500 will be tested again no doubt.

[nardoM4]

hopefully the trend continues, i need some new mods lol. BTW, i think the four tech giants are a great buy right now; Apple is releasing a new entry level mbp tomorrow, Microsoft is at a low and is prepping for a future release of windows 7, Google has its upcoming android cell phones, and Rimm (blackberry) has a great amount of new cellphones coming out 4th quarter this year

[lauer87]

Originally Posted by Laszlo

The cost of borrowing dollars for three months dropped for the first time in a week today. The Libor rate, a benchmark for $360 trillion of financial products worldwide, was at 4.75 percent, down 7 basis points from Oct. 10.

This is very crucial, for the last few weeks, the TED spread has been completely out of wack, its finally moving back to a reasonable level.

[MMMazing07]

friday was an epic day to buy. too bad i was busy and didnt make it to the bank in time. i agree with most guys here. todays upward trend is not going to be a. their will be many bumps in the next couple weeks. who knows what will happen honestly

[achien]

don't be fooled, it just the "short" guys covering their position.

7,000, here wee come!!!

[Black///Mamba]

lol to all those that think this is over...

[Blake]

Originally Posted by Laszlo

Dead cat bounce.

+1

[enwhykiid]

and down another 600

[lauer87]

Not looking good for today already...

[bantam]

rallied pretty decent at the end of the day, I'm up 6%.

will be interested to see if the rally continues tomorrow, I'm hoping so

[TurboFan]

The dead cat is still bouncing.