Dow Up 280!

[tripods68]

Wallstreet must like Geithner's plan!

DOW 8000 here we come baby

[disneysteve]

Yes. I'm annoyed. I was watching 2 bank stocks on Friday. Neither dipped to my target price, though both got very close, within a few cents. Now they're both up sharply. Who knew?

[Russell]

+1 on what Steve said.

[tripods68]

I hear you steve....i was watching Friday BAC ticker when it got close below $6.00 for a brief moment and just took off again.

[disneysteve]

I hear you steve....i was watching Friday BAC ticker when it got close below $6.00 for a brief moment and just took off again.

Yep. Now it's at $7.14. Would have been nice to buy in at $6 and make over $1 in one business day.

[disneysteve]

DJIA is up 426 points right now (3:40 pm)

[Ima saver]

A very good day!!

[Ima saver]

Up close to 500 at closing!!

[kork13]

HOLY SHKLAMOLY!!!!!! I got home from work and checked the markets out of curiosity (expecting that the Street would probably like the toxic asset plan coming out today), but JEEZ!!! I about fell over in my chair when I saw this! Dow up 6.89%, S&P up 7.09%?!?!?!? WOW!!!


::crossing my fingers that it sticks:

[disneysteve]

I won't be surprised to see some profits taken tomorrow, so there could be a little rebound dip, but I'm hoping this is the beginning of the end. They say the market always recovers before the economy in general.

[disneysteve]

cnn.money.com couldn't even keep up. Their home page says, "Dow jumps close to 400 points." Of course, it should say 500 points.

[tripods68]

Expect a little DOW tomorrow. But I'm won't be suprise if we up end up positive the rest of the week. I'm buying on the dip and selling on the high

[EEinNJ]

It's encouraging that it's come back some. There's still a long way to go before "the market" gets back to where it was. The treasury plan will have to actually work for that to happen.
It is a good reminder not to bail when all the news is gloom and doom. That doesn't mean you should pile back in now, either. Things could just as easily go south again on more bad news from one of these shaky institutions.

[disneysteve]

It's encouraging that it's come back some. There's still a long way to go before "the market" gets back to where it was.

The market doesn't need to get back to where it was to call this a sustainable upturn. Where it was before (DJIA over 14,000) was largely a bubble and not supported by fundamentals. Stocks were way overvalued. I'm no economist so I'm not sure what would be considered "fair value" but it is well below where the market peaked.

[Broken Arrow]

I won't be surprised to see some profits taken tomorrow, so there could be a little rebound dip, but I'm hoping this is the beginning of the end. They say the market always recovers before the economy in general.

Yeah, it's already being done in after-market trading....

The market reaction is based on the rather historic event that we're seeing from the Fed.... It's a new territory for all of us, and who knows what will happen next?

I'm glad that the Fed decided to lead the charge and hit the market hard, buying up all this toxic debt. For better or worse, we can't take small, measured steps anymore. This economy is in such a bad shape that it needs a massive jolt, and this is exactly what the Fed brought to bear. It's do or die time, but at least the market is responding favorably to these actions.

So, yes, I too hope that this will work, and hope that this is the beginning of the path towards the complicated recovery....