Dow down 600 points...think its gonna get worse...

[Driven1]

this morning's news...

Stocks Set to Surge as Global Shares Jump- AP

http://biz.yahoo.com/ap/081028/wall_street.html

[RiversideGator]

wow.  even less interesting chit chat than the usual totally wrong prognostication.

interesting.

the dow is destined to fall to 6000, then stabilize.

Once the anointed one, Barack Hussein Obama, Jr., peace be upon him, is in office, 1000 years of peace and prosperity will be ushered in.

[RiversideGator]

the dow is destined to fall to 6000, then stabilize.

More disastrous investment advice.  I hope no one sold off early today based on this.   

U.S. Stocks Rally, Dow Jones Industrials Climb 889 Points

By Lynn Thomasson and Eric Martin

Oct. 28 (Bloomberg) -- Stocks rallied and the Dow Jones Industrial Average posted its second-best point gain as the cheapest valuations in 23 years lured investors and increased commercial paper sales signaled credit markets are thawing.

Alcoa Inc. jumped 19 percent, leading the Dow to an almost 900-point advance, after the shares slid to their lowest price- to-earnings ratio on record. General Electric Co., the largest issuer of commercial paper, soared 9.9 percent after sales of longer-term debt grew 10-fold yesterday as the Federal Reserve entered the market for corporate IOUs. Citigroup Inc. and Bank of America Corp. rose more than 12 percent as traders boosted bets the Fed will cut interest rates tomorrow.

The Standard & Poor’s 500 Index gained 91.59 points, or 11 percent, to 940.51 after sliding to the lowest level since March 2003 yesterday. The Dow climbed 889.35 points, or 11 percent, to 9,065.12. Hong Kong’s benchmark index added 14 percent, its best advance in 11 years, while Germany’s climbed 11 percent and Brazil’s jumped 13 percent.

“The valuations are extremely compelling right now,” said Dan Veru, who helps manage about $2 billion at Palisade Capital Management in Fort Lee, New Jersey. “When you’re in extreme oversold conditions, the market is prone to these types of wild swings. The key thing is, can we hold these gains?”

Valuation Watch

The S&P 500 was valued at 10.7 times estimated profit when trading opened today, the cheapest compared with the multiple using trailing profit since at least 1995. The index was also 25 percent below its average closing price over the last 50 days, a level reached only four previous times, spurring average gains of about 20 percent over the next six months.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aZ3EufoOM1wM&refer=home

[Driven1]

c'mon river...don't you know the DESTINY of the Dow? 

it's pure fate.

[RiversideGator]

 

[Driven1]

wow.  even less interesting chit chat than the usual totally wrong prognostication.

interesting.

the dow is destined to fall to 6000, then stabilize.

The Dow Index is 350 points away from hitting 10,000 again...after hitting a low of 7,900.

S&P 500 is up 16% in last 6 market days.