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Like old times

Posted at 3:00 PM on October 28, 2008 by Bob Collins (1 Comments)
Filed under: Economy

We interrupt the steady drumbeat of bad news for this message.

Whooo hooooo!

The Dow closed almost 900 points higher today. And it all happened in the final hour of trading. It was the second-largest point gain in history -- the largest was just two weeks ago.

According to the Associated Press, bargain hunters were buying "in anticipation of a Federal Reserve rate cut, (and) grabbed stocks that have been pounded lower in recent sessions."

Is that a bottom?

Comments (1)

It looks like a bottom in a couple years we will know if it was "the bottom".

I was reading about the stock market today and learned a new term dead cat bounce. Maybe it was one of those.

Posted by Joel | October 28, 2008 4:01 PM

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