Can Someone 'Splain Today's Dow?

[Crash Martinez]

I know it doesn't close for over 1/2 hour from now, but the Dow is currently up around 600 points, and I'm dying of curiosity. Would someone like to let us know - or at least venture a guess - as to what is going on at the moment??

 

[muh_roads]

 

[Dr.3D]

lol

 

[Crash Martinez]

ftw!

 

[Dorfsmith]

I think a few people got a little overexcited about the prospects of a rate cut

 

[brandon]

No reason to overthink it. The answer is simple.

Many people think we are near a bottom and want to get in at a good price.

 

[OKRonPaul]

crack, meth, etc

 

[Crash Martinez]

wow. make that 900.

 

[ShowMeLiberty]

wow. make that 900.

It's still down almost 20% for the month. Down about 30% YTD and over 40% since this time last year.

 

[StrikerV]

FACE IT! HAPPY DAYS ARE HERE AGAIN AND THERE IS NOTHING YOU ALL CAN MOAN ABOUT ANYMORE!!!! THIS BUBBLE IS GONNA BE A QUADRILLION SO LETS REJOICE FOR THE HAPPY DAYS!!!

http://www.youtube.com/watch?v=SESr9D5Gd7A



I love me some HUGE GAINS!

 

[lodge939]

TIME FOR CNBC AND FOX TO DECLARE THE BOTTOM IS IN!


until tomorrow, that is...

 

[Michigan11]

The largest daily % increases in the DOW were in bear markets, including the 30's.

This may be good for today, but I see it as a sign of trouble ahead in the markets. JMO

 

[Mini-Me]

The Dow is up today because God wanted to get my hopes up about regaining some losses...before mercilessly crushing them again tomorrow.

 

[ItsTime]

TIME FOR CNBC AND FOX TO DECLARE THE BOTTOM IS IN!


until tomorrow, that is...

I am sure they will. Last week they were saying the "market HAS rebounded from yesterdays loses" The loses that were "yesterday" were 500+ the "rebound" was 125

 

[eric_cartman]

if you listen to the first hour of the financial sense news hour from this weekend... their technical guy predicted this exact thing would happen. he said it would go a bit lower (like it did on monday), and then have a huge rally. i think this was just a technical rally because markets were over sold. they will probably go up a bit more, or trade sideways for a while, but will eventually go on to make new lows (unless there is lots of inflation, in which case they will fall lower in real terms sometime in the future)

 

[Bigvick]

No reason to overthink it. The answer is simple.

Many people think we are near a bottom and want to get in at a good price.

Don't make me laugh, look at the volume for the session and tell me this was a true rally(LOL). The little guy is making a real big mistake by going long today.

Weakest consumer confidence numbers in history, thousands of job layoffs announced,ect....and it goes up. LOL, Look for the week to end in the red... , Did I hear horrible GDP report anyone...?

I went long today on the bank stocks because I knew the markets were going to act haywire but not by 888 points LOL. \


Markets went up today on hope for the future(wishful thinking IMO) it was not trading on fundamentals.

 

[Zippyjuan]

I think it wil continue to bounce around- big swings up and down. Probably some profit taking tomorrow- people trying to lock in gains against the losses they have already been hit with. I just sent in some money for part of my IRA contribution for the year. I hope it does not get posted based on today's close.

 

[torchbearer]

I expect people to take their gains and get out. Someone is going to get stuck holding the bag.

 

[Shinerxx]

The largest daily % increases in the DOW were in bear markets, including the 30's.

This may be good for today, but I see it as a sign of trouble ahead in the markets. JMO

Market rallies during the Great Depression shown in red.

Largest daily percentage gains Rank Date Close Net Change % Change
1 1933-03-15 62.10 +8.26 +15.34
2 1931-10-06 99.34 +12.86 +14.87
3 1929-10-30 258.47 +28.40 +12.34
4 1932-09-21 75.16 +7.67 +11.36

5 2008-10-13 9,387.61 +936.42 +11.08
6 2008-10-28 9,065.12 +889.35 +10.88

7 1987-10-21 2,027.85 +186.84 +10.15

8 1932-08-03 58.22 +5.06 +9.52
9 1932-02-11 78.60 +6.80 +9.47
10 1929-11-14 217.28 +18.59 +9.36
11 1931-12-18 80.69 +6.90 +9.35
12 1932-02-13 85.82 +7.22 +9.19
13 1932-05-06 59.01 +4.91 +9.08
14 1933-04-19 68.31 +5.66 +9.03
15 1931-10-08 105.79 +8.47 +8.70
16 1932-06-10 48.94 +3.62 +7.99
17 1939-09-05 148.12 +10.03 +7.26
18 1931-06-03 130.37 +8.67 +7.12
19 1932-01-06 76.31 +5.07 +7.12
20 1932-10-14 63.84 +4.08 +6.83

 

[hypnagogue]

Truth is the markets are an emotional enterprise. In chaotic times such as these, the stock markets are a better indicator of how people are 'feeling' than how the companies being traded are actually doing.