Too many bargains out ther are pushing Wall Street higher in erratic trading Thursday as investors, while still nervous about growing signs of a weakening economy, picked up all this bargains from stocks that were way oversold from the last two days market collapse.
"Its people coming in that see tremendous value, but for a more sustainable advance I think we need more time," said Steven Goldman, chief market strategist at Weeden & Co. in Greenwich, Conn.
Wall Street digested a rush of corporate news. Goldman Sachs Group Inc. is preparing to cut about 10 percent of its work force, according to a person briefed on the plan who requested anonymity because the company hadn't publicly disclosed details of the plan.
Lets hope the market keeps rising...... Up up up!!!
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