Everybody Back in the Pool
Friday, November 14, 2008 | 09:02 AM
in Trading
From Thursday's Yahoo:
At their intraday lows, the Dow was below 8000, while the S&P and Nasdaq were below their respective October lows of 840 and 1,504.
"We are buyers as markets approach those levels again," Barry Ritholtz CEO of Fusion IQ wrote on his Big Picture blog, noting markets typically move in a pattern of "bottom, rally, retest, rally."
Since major averages subsequently rallied about 18% from their October lows the first time, traders are hoping for a repeat performance.
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Friday, November 14, 2008 | 09:02 AM | Permalink
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