Stocks Rally at Opening
Like bulls behind a gate snorting to escape, stocks roared out at the opening bell moments ago.
In the first few minutes of trading, the Dow is trading up 400 points, or more than 4 percent, and rising.
The S&P 500 and Nasdaq also are trading up more than 4 percent.
But is it a) sustainable and b) meaningful?
We won't know the answer to a) until today's close, but we can learn something about b) by watching volume throughout the day. If volume is light, it's mostly a symbolic rally. We'll keep an eye on it.
-- Frank Ahrens
By
Frank Ahrens
|
October 13, 2008; 9:39 AM ET
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Posted by: observer23 | October 13, 1908 9:57 AM | Report abuse
I'd go with meaningful. We know there will be an answer. In the long-term there will be lots of answers. They're all at school now, while the adults mess the world up/
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Posted by: Night Mayor | October 13, 1908 10:31 AM | Report abuse
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Thank you, Frank, for taking a sensible approach to the early market rise. If we have learned anything the past couple of weeks, short term changes in the market are useless in speculating about the state of the financial sectors. I recommend deep breathing.