Hope you enjoyed that ride. The markets just smashed them some previous one-day records. All three indexes closed up around 11%, coming off a week of stomach churning declines. The 940+ gain on the Dow was easily the largest point gain of all time. Second biggest was just 499+ in March, 2000, right near the top of the bubble. On a percentage basis, the Dow gain was in the top 5 — largest ever was March 15, 1933, when the Dow gained 15%.
Will it carry through when the credit markets open up tomorrow and weigh in on their view of the economy? No clue, but we appreciate one day of not worrying whether America is finished.
Ok, now someone needs to do a counterpoint to the “Sad Traders” blog.