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!!!
Showing posts with label positive. Show all posts
Showing posts with label positive. Show all posts
Thursday, October 23, 2008
Monday, October 20, 2008
Dow ends up over 400 starting the week
Finally seeing some light Wall Street has had another big advance, with investors growing more confident in response to an improving credit market and comments from Federal Reserve Chairman Ben Bernanke who hinted that the government will take more steps to help the economy.
Here is a chart of the intraday trading for the Dow Jones today:
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