Stocks Bounce Back From Lows; Dow Gains 236 Points

Stocks Bounce Back From Lows; Dow Gains 236 Points

www.nytimes.com

Wall Street bounced back on Tuesday from its lowest levels in 11 years after the chairman of the Federal Reserve tamped down investor fears that the government would nationalize major banks.

“We are committed to ensuring the viability of all major financial institutions,” the Fed chairman, Ben S. Bernanke, told the Senate Banking Committee. His reassurance on nationalization followed earlier statements from the White House saying that the government supported a privately held banking system.

(visit the link for the full news article)

So Bernake speaks and DOW responds....

This is going to be ugly when the 'glam' wears off.

Seems like market manipulation at it's most pronounced. But then, this IS what they do. And the media HELPS.

Can someone really claim that there isn't a connection between Bernake's reassurances and the DOW performance?

Yet, the situation is unchanged. Go figure.

www.nytimes.com
(visit the link for the full news article)

Well he did say that all banks in trouble would be given taxpayers money.

And of course The Messiah is schedule to speak tonight...

So it was a rally of hope, once again.

when i woke up and saw the dow up like 120 at the time i laughed my ass off

Yes I noticed that too, but that was in the reassurances that the banks will not be nationalized.

Interesting that some of the senators were telling Bernanke that if the fed is not going to nationalize the banks then what he calls what the government and fed is doing to the banks with tax payer money.

Still Bernanke refuse to call it nationalization and used another word.

The more the tax payer infuse in the banks the more ownership of the banks by the public sector.

Unless is nothing than a scam and a lie while robbing us blind for their benefit.

[edit on 24-2-2009 by marg6043]

Well good luck to all the investors...They are going to need it.

It's been a nice run, but I see nothing but a future cut and run in the offing.

Like I said in another thread. This is a suckers rally. Don't put anything more into the market unless you want your arse handed to you by it.

Could be that 'they' were trying to push gold down, well it worked. The price of gold has been taking off the past couple weeks. It will only work until the next fleecing they make public.

Peace

Cute, so now all those who got laid off so far this month of February which is looking to be over 700,000 people who lost their jobs with a week left to go. Yea those folks since the market is a boom can go buy some bank stocks LMAO. Some poor fools with read that headline and lay their little heads down to tonight and all will be well with the world.

Whoopity Freaking Do!!!

Good......Great......Grand

I see riches in sight beyond Wall Street's biggest imagination!!

When it gains 1,000 points in one day then write something otherwise who cares it will be back down that 236 points tomorrow.

Originally posted by LeaderOfProgress
Like I said in another thread. This is a suckers rally. Don't put anything more into the market unless you want your arse handed to you by it.

Totally agree. This is a good old dead cat bounce rally. This will lure some people back into the market thinking its the bottom.

yeah i read an article and it said the only real reason why they rose is because he said that the banks weren't getting nationalized ... i personally don't think anyone believed his b.s. about the recession ending this year ...

US stocks rose on Tuesday, gaining more than 2 percent a day after hitting 12-year lows, after Federal Reserve Chairman Ben Bernanke signaled that nationalization of major banks was not at hand.

Source

this is just all a band-aid they're putting over wall street to keep it from oozing out it's worst ... for now ...

[edit on 24-2-2009 by baseball101]