Rebound Day

By: Avi Wednesday, January 21, 2009 5:08 PM

Article Author

Follow Me

Bio and Articles
Author's Website

Vote for next session

The next market session will close:

Encouraging tech forecasts (especially IBM) lifted the markets. Dow rose 279, advancers over decliners 3½-1 & NAZ was up 66. The 8K floor has held for the Dow over 3 months.

Dow Jones Industrials --- 3 months

Oversold banks led the charge up as S&P 500 FINANCIALS INDEX rose off its low yesterday but couldn't take out the prior Nov low of 125:

Value
124.16

Change
15.83

% Change
14.6%

Helping the index, execs at Bank of America (BAC) bought a lot of BAC stock yesterday at 6, always an encouraging sign. The stock soared 31%. Another way to look at, it went up $1.58.

•Bank of America Soars After Lewis, Five Directors Disclose Share Purchases

The Alerian MLP Index bounced again off its 190 floor.

Bookmark:
Email
Print

The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.

Related Stories