January 23, 2008
Holy DOW! The near 300 point surge
With all the panic and recession talk going on, the markets really dropped. Yesterday and today there were massive sell offs and then a surge this afternoon not only balanced but the DOW actually closed positive to the tune of almost 300 points. I don’t think I have ever seen a roughly 600 point swing in a single day.
I was looking at some of the articles online, believe it or not some companies are still reporting profit. With the massive sell off, I think we will see people with money try to find deals out there to help keep the ball rolling. I would like to see the market return back in the 13k area so it will take some time. Slow growth is one thing but a failed economy is another.
Today feels good though and I can only hope that it continues like this. I’m waiting on some more Q4 earnings to come out yet to see where I personally stand. At the same time I am waiting to hear what, if any, kind of bonus I might be able to get half of after the IRS takes half of it. I wonder if that tax rebate will still be on the table now. Only time will tell what happens.
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