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Dow Shatters Biggest Gain In History

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Post  Cincy Fan 44 Mon Oct 13, 2008 5:52 pm

http://news.yahoo.com/s/ap/20081013/ap_on_bi_st_ma_re/wall_street

NEW YORK - Wall Street stormed back from last week's devastating losses Monday, sending the Dow Jones industrials soaring a nearly inconceivable 936 points after major governments' plans to support the global banking system reassured distraught investors. All the major indexes rose more than 11 percent.

The market was likely to rebound after eight days of precipitous losses that took the Dow down nearly 2,400 points, but no one expected this kind of advance, which saw the Dow by far outstrip its previous record for a one-day point gain, 499.19, set during the waning days of the dot-com boom.

Still, while the magnitude of Monday's gains stunned investors and analysts, no one was ready to say Wall Street had reached a bottom. The market is likely to have back-and-forth trading in the coming days and weeks and may well see a pullback when trading resumes Tuesday as investors work through their concerns about the banking sector, the stagnant credit markets and the overall economy.
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Post  Guest Mon Oct 13, 2008 5:59 pm

Game on! cheers
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Post  Guest Mon Oct 13, 2008 10:18 pm

I dunno man... I bet it gives back half of it tomorrow... the overall volume was lower than average... which usually indicates activity outside the norm... After the drubbing it took last week, nearly every stock was at 52 week lows.... everything is cheap cheap...

My $0.02 is on -500+ tomorrow
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Post  Canuck Wed Oct 15, 2008 10:01 pm

Another sickening plunge on Wall St. as Dow Jones slides 733 points
Wed Oct 15, 8:07 PM

WASHINGTON - The economy lurched deeper into the doldrums Wednesday and took the stock market down with it, sending the Dow Jones industrials to a staggering 733-point loss and erasing any hopes that the convulsions that have shaken Wall Street for a month were over.

http://ca.news.finance.yahoo.com/s/15102008/2/biz-finance-sickening-plunge-wall-st-dow-jones-slides-733.html
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