I saw some surprisingly negative commentary today, and told Dow Jones why the Bears — who were right up until today — are now (heh heh) wrong.

Stocks Complete Bullish Intraday Reversal
05/12 4:06P DJ MARKET TALK:

4:06 (Dow Jones) More big losses earlier in the session saw the DJIA down
around 170 points. However, with breadth around 10-1 negative and panic
selling spreading, stocks rallied sharply in the final hour of trading to
close mostly in positive territory (only the Nasdaq couldn’t manage it but it
was well off its low). As one strategist says, [: )] the market had a
feel of one that had exhausted many of its sellers and has probably
put in a bottom, even if it’s only a short-term one. The major indexes have
closed above several psychological levels. DJIA up 25.69 points at 10045.16,
S&P 500 1.81 higher at 1097.26, Nasdaq Comp off 5.76 at 1925.59. (NPB)

Look for greener days ahead in the market– at least for the short term.

Category: Finance

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Comments are closed.