Well the investors have spoken. They apparently feel that the worst of the credit crisis is finally behind us. Lets all hope they are right.
Investors rallied and the DOW was up more than 900 points! This is the largest one day point rise in a single day in history folks. Just another day in the volatile market we are becoming accustomed to. One day we might see one of our biggest banking firms go down and less than two weeks later the biggest one day increase in points in history. Everyone having fun yet?
Experts think that the world focus and steps announced to help ease the afflicted global credit crisis was one of the major contributors to todays meteoric rally. Of course today was a holiday and there was no technical data to help shower us with the usualy wonder news.
Lenders were closed today so no interest rates were released. We will have to wait and see how this new confidence will play out with the rates tomorrow. Experts are hot & cold depending on who you listen to. We tend to be optimistic and hope that last week marked the literal bottom of this whole credit crisis and we can at least hold that mark or improve on it from here on out.
Check back tomorrow and we'll see how rates look and get a whif of some techinical data to see how strong this rally will be!
Monday, October 13, 2008
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