Tuesday, October 28, 2008

Huge rally!

More EXTREME volatitlity today as the market gained almost 900 points for the 2nd largest point gain ever. Dow closed at over 9000. S&P was up almost 11%.

Out of 20 trading days this month, there have been only two that didn't see the Dow close up or down in triple digits.

The market is expecting the fed to cut rates again tommorrow. The market looked past the news of the consumer confidence index recording a record low.

CAKE was down 4.5% to close at $7.99. Looks like I tried to catch a falling knife on that one and its about to cut off my hand. 20% haircut in roughly 2 weeks.

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