Dow 9K??

[bjl584]

It's looking like the Dow may be going back above 9000 today. It will be interesting to watch.

[Broken Arrow]

A weekend break to breathe and world-wide government intervention is finally taking their effect. I didn't think the panic sell would last, but I admit I didn't realize a rally would come so soon....

Actually, given the volatility nowadays, you can't even call this a rally anymore. Still, it's a welcome relief for people who go long. But how long will this last? I don't know, but I'm glad I bought in beforehand. So far, my current trade is up 17.8%, but of course, that can change at any minute.

[GREENBACK]

It's soaring for the moment. I think the G7 & G20 meetings this wknd. helped confidence.

Cross your fingers that it stays this way.

[kork13]

WOW! everything up 6% (dow about 500 up right now)! ....very nice. It would be nice to see the market make some solid (and lasting) gains.

[disneysteve]

Up about 700 points now.

[Broken Arrow]

Yep. I'm wondering where the reaction drop is going to be, but I don't see it yet. The buyers are vastly out-numbering the sellers today. It would be nice if it could at least hold this level.

Edit: Oh wait, there it is. We'll see how much the reaction drop is....

[GREENBACK]

I think this is optimism more than substance. I'll wait a week to see if this holds.

[kork13]

::jaw drops THROUGH the floor::

YIKES!!!!! nearly 1000 points up in ONE DAY! About 960 points up at closing bell. YEESH!!!

EDIT: Forgot about after-bell trades.... it's settling down slightly, about +930.

[kork13]

Obviously this is speculation, but I wonder if these gains will actually hold? Hopefully yes, but the cynic/pessimist in us all says that the bad isn't over...

Thoughts?

[Merch]

I am looking at 9000 being tested and 8451 to be retested before we go higher.

By the by, If those to levels hold this week, i'll be buying more financial and banking ETFs. Just my thoughts. Oh yea, I just looked at my roth at Vanguard. WOW!!! Down 25%, but when you look at the dollar figure. WOW!!!

That's 25k per 100k. Just wow.

[Ima saver]

It has been an interesting day!!

[KGeary]

I doubt it will hold. I was actually hoping it would stay down for a few weeks while I buy buy buy...we'll see what happens. I would speculate that this is a temporary rally. Next piece of bad news and it's going to tank again.

[disneysteve]

I don't think the rollercoaster ride is over yet, but I do think the size of the swings may lessen. In any event, up 1,000 is sure better than down 1,000.

[GREENBACK]

I think we'll see gains take hold when good reports on the overall economy start flowing in i.e. employment, consumer spending and profits from the big companies. That's not the case yet so I'm not confident about what happened today. Still, it is 1000 pts. so it's going in a better direction than last wk.

[KGeary]

The move is too volatile to be concrete. There's too much emotion in the market. The same people who all bought today are going to be selling at the next sign of a downturn.

This whole market drop has been a sad case of massive amounts of people who don't know what they're doing with their investments. The crash was due to massive emotional selling based solely on chicken little media reports. The upturn is the result of positive media reports. People need to stop buying and selling based on the emotion of the market in a given day.