Dow UP 300 points

[disneysteve]

Market is seeing a nice rally today, up 300 points right now.

My BAC stock is up 26% from yesterday (though still under what I paid).

Let's see how long this lasts.

[sweeps]

It'll probably go back down. But eventually it will go up and stay up, and I don't want to miss out. I'm still full tilt on stocks in my retirement accounts and kids' education accounts.

[red92s]

Horrrraaay recession overrr . . .







/Sarcasm

[creditcardfree]

It's nice to see it go up once in awhile! Citigroup announced it was profitable for the first two months of 2009! Wow.

I suppose it is because I'm paying off my home equity loan with them!!

[GREENBACK]

Hopefully the uptick will continue after Obama speaks and tells investors how rotten things are.

[tripods68]

The more Obama speak about the Economy the more the market keeps going down.

We need him to be silent for a while. Let the market decides where it want to go. UP! i hope

[Broken Arrow]

It's nice to see it go up once in awhile! Citigroup annoced it was profitable for the first two months of 2009!

Yeah, bear market rally over something like that. It's actually not a bad day to sell if you're trading and looking for an exit point....

[sweeps]

Maybe Citigroup is experiencing a dead cat bounce?

There was another interesting piece of news today -- the "uptick rule" is reportedly to be reinstated. That puts restrictions on short selling. That will likely reduce volatility in the market.

[red92s]

It's nice to see it go up once in awhile! Citigroup annoced it was profitable for the first two months of 2009! Wow.

Doubling all your credit card holders APR's and getting a cash infusion from the government can do wonders for one's cash flow.

I'd expect they still have a negative Q1 earnings release after March 31st, after they write down all the toxic assets still on the books.

[disneysteve]

Nice close, up 379.44. I'll take that. I hope they don't take it all back tomorrow. I bet there will be some profit taking.

[kork13]

Maybe Citigroup is experiencing a dead cat bounce?

LOL I've NEVER heard that particular phrase before, but I laughed heartily upon visualizing such a thing.... hahahahahahahahaha (sorry to the cat-lovers)

It is nice to see such a gain--5.8% for the Dow, and 6.4% for the S&P.... Quite nice, but I'm unfortunately unconvinced of its ability to stick.

[GREENBACK]

Of all the sectors we want to see a bounce in, financials are certainly it so maybe this is a good sign

[humandraydel]

There was another interesting piece of news today -- the "uptick rule" is reportedly to be reinstated. That puts restrictions on short selling. That will likely reduce volatility in the market.

Don't underestimate the "brilliant" minds on Wall St. When the previous rules were enacted (no short sales on financials), a lot of hedge funds just shorted the Total Stock Market Index and then went long everything BUT financials. A net result of.....shorting the financials!

[creditcardfree]

Glad to see it ended up. Now...to see what happens tomorrow.

[gekkoplus]

I moved my position in equity to bonds after market close today. I have a feeling that market is going lose 80% of today's gain tomorrow. I know this is a pretty short sighted strategy, but I have decided to not buy and hold until there is a clear market outlook.

I will move my money back to equity after market closes tomorrow if dow tanks 3+% tomorrow.