Monday, October 13, 2008
Lets All Ride The Index Rollercoaster
Did you see the last hour of trading Friday? It was unbelievable to watch!
The Dow finished down 128 to end on 8451.19. The SPX gave up 10.70 to close at 899.22. We still, thankfully have no play on.
Friday saw quite possibly the most volatile day ever in terms of up and down price swings. The Dow was down nearly 8% at the start and then managed to rally to losses of approx 2% to 4% throughout most of the morning. Then the Dow dropped again to retest those 8% lows which then brought on more selling from the Bulls. Then in the last 40 minutes of the day all of a sudden the Bulls like what they saw and the markets jumped almost 12% in about as many minutes!! Then in the last 20 minutes or so the gains evaporated and stock finished fairly (in these times) flat for the day!
I can't really opine on what happened. Nobody has a clue any more.
Until next time.
The Dow finished down 128 to end on 8451.19. The SPX gave up 10.70 to close at 899.22. We still, thankfully have no play on.
Friday saw quite possibly the most volatile day ever in terms of up and down price swings. The Dow was down nearly 8% at the start and then managed to rally to losses of approx 2% to 4% throughout most of the morning. Then the Dow dropped again to retest those 8% lows which then brought on more selling from the Bulls. Then in the last 40 minutes of the day all of a sudden the Bulls like what they saw and the markets jumped almost 12% in about as many minutes!! Then in the last 20 minutes or so the gains evaporated and stock finished fairly (in these times) flat for the day!
I can't really opine on what happened. Nobody has a clue any more.
Until next time.
# posted by Paul @ 7:10 AM 
