DJIA Moves +800 On Potential Interest Cut Again

Posted by Kris | Wednesday, October 29, 2008 | | 0 comments »

Wow..yesterday i thought that the DJIA will be down. I am dead wrong. The big move upwards begun around 2pm (US Central Time) propelling DJIA up to the 9,000 mark. The total move for the day: ~800 points. 

The news' headline: Investor buying share as a bargain. I don't think the bottom is in sight yet. IMF is getting infamous again ," ever-ready to rescue" Ukraine and possibly Hungary caught in the global financial crisis. Iceland is raising interest rates heavily in an attempt to prevent a financial armageddon from happening.

3 digit moves in either direction : up or down is a pretty common sight for the DJIA in these 2-3 weeks. Asia market gained but off their high.