If it’s a sucker’s rally, it’s a big one.
The Dow has just crossed the 8,000 mark, and is trading within a point or two on either side of it. Just a few weeks ago, the Dow hit a low of 6,440.08, for a gain of 24%. Once again, financials are putting in a strong day. Ken Lewis’ performance on CNBC seems to have gone over well, with Bank of America (BAC) stock up over 7%. GE is above $10 again, gaining over 6%.
The NASDAQ is having a particularly strong day, gaining 4% to about 1,613.