Monday, October 13, 2008

Yahoo! News: Dow roars back from worst week ever

Something quite nice to read about finally. http://news.yahoo.com/s/ap/20081014/ap_on_bi_st_ma_re/wall_street

However, exercise caution. As quoted in the article,

"My screen is completely green, and I love that," said John Lynch, chief market analyst for Evergreen Investments in Charlotte, N.C. "But I'm not doing any backflips yet. We still have many challenges up ahead."

and

"I would say this is closer to the bottom. I can't say this is the bottom," said Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa. "I think it's more relief, the rally today."

and

"I think we had enough negatives last week that if the government steps in we could have a pretty nice run," said Denis Amato, chief investment officer at Ancora Advisors. "Is it off to the races? No, I don't think so. We have a lot of stuff to work through."

Yep, I think so too.

Congratulations to those who profited from this rally. It sure is helpful when you have spare cash to risk riding this possibility. For many, it seems that it had paid off. Good for you.

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