Dow Closes. Up 936 Points

I am shocked to see that no one has started a thread about how high the djia has risen today.(just kidding, I am not really surprised) It is going to have its biggest one day gain ever. Actually it will almost double its biggest one day gain ever.
source European markets also had their biggest one day gains ever, gaining about 10%. I know this is only one day but what the hell, it is good to see some good news for once. Especially when most of you, including Jim Cramer, thought the market was going to tank again. Once the rescue package starts to be implemented we should see more positive gains. Hopefully this will start to restore some confidence into people. And again I know it is only one day, but what a day it was! And I also realize we just had our worst week ever. Hopefully it will keep going up or at least not drop 400+ points tomorrow. At least I hope it stabalizes some what. Just wanted to infuse some good news on this board that is filled with doom.


[edit on 13-10-2008 by tide88]

[edit on 13-10-2008 by tide88]

So....is it safe to jump in now?

Yeah it is good news if it lasts, I still have a hard time breathing a sigh of relief. Not because I am a doom and gloom person, but it seems like something is amiss when you have an 11% gain so rapidly.

None the less it will get people maybe feeling good for a couple days. I dont think people should run around yelling the sky is falling, but I also dont think you should say all is over after one day of a very positive market. It will be what it will be, and I guess we will have to wait and see if it keeps going up, or if it comes back down.

Anyone taking any bets?

Head first, just close the eyes and go ahead and do it.

To all of the ATS doom people: Your still fear mongering without reason.

UP ~930 points, biggest dow point gain in HISTORY and the biggest percentage performance gain is 76 years.

I find it so funny that when the markets have huge rallies, everyone who so desperately wants economic doom tell us that its all market manipulation. No, no its not. If market manipulation was occurring it would have happened last week.

Does this mean everything is over? No. But it means that using the stock market as a judge for the economy and stirring up panic and hysteria over stock market swings is foolish.

What it DOES mean is that all this talk over great depression hysteria is overreacting and buying into the MSM/Government propaganda. The great depression is not coming.

You can try to explain this all you like: I'm sure all those who desperately want some doom and are convinced that economic armageddon is here will say its:

1) A deat cat bounce.
2) Short covering.
3) Market manipulation.

But your wrong. Last week was total senseless panic selling fueled by the fear mongers, and now people regained some of their rationality. Its not the end of the world people, and its time those who desperately want it to be come back to reality. Your going to have to find something else to scare people about.


[edit on 13-10-2008 by LowLevelMason]

Banks & bond markets were closed, of course the overall market was going to rise. Just watch closely for a big selloff tomorrow. This was a combination of short traders taking a rare chance to pad their pockets with banks & bonds closed, dreamers, and government money that caused this. I think if anything it highlights an insane level of volitillity and demonstrates the markets are anything but sound. I'll wait for a few weeks of ballanced, sensible & rooted in fundamentals trading before I say we've see the valley.

(and considering the insane price of lost capitalism, lost democracy, and lost sovreignity we suffered thanks to this, no market spike imaginable can pay that bill back to us. There's nothing to celebrate here.)

Sorry, i dont see any good news in prolonging a corrupt system of greed, risk and fear. The powers that be will try anything to keep this money beast alive.

I just enjoy the desperation & frustration of CNBC anchors when things dont go their way.

It did, at 3PM Eastern time when Henry Paulson upened up his little tax payer funded bailout purse and started buying Bingo cards with it's contents.

reply to post by burdman30ott6

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Only in your dreams. Its well known that the money from the bail out hasn't even been used yet, and the money that is being used wouldn't cause the stock market go up because its the buy off of bad assets, which are not accounted for in daily swings of the market. If market manipulation was what all of the doom mongers wanted, we would have never gone down like we did last week.

Last week was senseless panic selling fueled by people like those on ATS declaring that the end was nigh. Nothing in the bail out package allowed a way to manipulate stocks, as we clearly saw last week.

[edit on 13-10-2008 by LowLevelMason]

Look here,

It's not about whether or not you think the stock market can be manipulated, although obviously it can. If you think the crisis is over after 1 day of good trading, did you assume by that logic that the crisis began after 1 day of bad results?

If you consider the rise in the DOW today to be an indicator of the end of the doom period then think again. The unprecedented cash injections given to the banks from governments and central banks around the world is the reason for the bump in world markets, and although that might shore things up for a while (a while being a few days) it is not going to turn everything around.

Have you considered the fallout of all this money being piled into the system? How is it going to be paid for?

What about the Technology and Retail sector, coming up to the holiday season?

What about the Bond Market, derivatives?

What about the fact that the credit markets are still frozen up?

It will take a whole week of gains to really make an impact, but even if that happens there are still many unanswered questions about the holes in our economy.

.



[edit on 13/10/08 by liketoknow]

Good lord. I was following this at work today, though there's only so much info I can get on my cell phone.

+936 on the low volume we had today??? Especially the morning's volume?? Holy crap.

What a i worry about is that we've had these gains before after loses and what has happened? We've had even BIGGER loses following it. The only thing this tells me is that the Dow is capable of dropping 1000 points in one day. I won't be jumping in, not from one day of trading.

The low volume can be attributed to the banks and the bond market being closed today.

reply to post by LowLevelMason

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Maybe it didn't come from the $850 Bil earmarked for bad debt purchase, but Paulson admitted that they'd started the plan to purchase interest in financial institutions on Friday. How else do you explain a massive upswing in a ridiculously short period of time which defies all logic and market sense? After the release of the information surrounding the horrors of the Lehman Bros. CDS auction came out, all logical expectations pointed towards a precipitous drop in the market, instead it rose?

Yep, no manipulation there! In fact, nothing to see here at all, please move along and forget what you think you saw unless you think it benefitted us and made Dear Leaders look like they were doing a good job.

reply to post by burdman30ott6

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Yes, I realize that the banks and bond markets were closed. However we still would have seen a huge bounce in the market today even if they were opened. It is funny you actually said this. CNBC just said the doomsayers would come out and say"well the bond markets were closed today so the bounce was artificial." they responded by saying even with the bond markets closed we still would have seen huge gains in the market. That being said, I am not saying this is the turn around point. I am just trying to inject some good news into this board. Looking at the home page, it is nothing but doom and gloom. If the markets would have tanked in the morning you would of seen 5 threads talking about it. However with the markets going up, you dont see one. Will be curious to see what the end of the weeks tallies are or the end of the month. We really need market stability. Sounds like kind of good news to me.

Exactly, that's why I'm laughing.
I can't wait to see what the LIBOR does in ~12 hours.

reply to post by liketoknow

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Again, maybe you misread my post. I in no way said that this was the end of anything. That would be just plain stupid. However it could mean the markets have started to bottom out. We are far from in the clear. Just wanted to post some good news. And yes when the markets tank 900 points, even if this happened two years ago, there would be 10 threads saying the economy has tanked. Good news never gets reported here. That is all I am doing. Anyway you look at it, today was good.

[edit on 13-10-2008 by tide88]

It isnt like MSM to exagerate anything, not saying it isnt true, just trying to be objective.

We are seeing records in both directions, it has been a crazy couple of weeks. When things start going here where I live again, when people have work, and we are moving along like we should then the economy will be good. Stock market be damned.

reply to post by LowLevelMason

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all fearmongering aside, just as you claim a 600 point swing down is nothing to worry about, i say a 930 point swing up is nothing to be happy about.

it has been volitlie for a good while now. i dont even think you would dissagree with that.

it is my opinion that, we are in a bear market. and that was, or is a bear market rally. and it will be short lived. that doesn't mean i think the depresion is coming.......


---------------------EDIT-----------------
change 390 to 930...damn lysdexia.


[edit on 13-10-2008 by JSR]

up 2% is good news. Up 11% is part of the worrying trend of wild swings.