Tuesday, October 28, 2008

The (Market) Surge is Working!

As John McCain might say, the suirge is working! The stock market surged 10% today because:

A) George Bush said he was suspending the election and was going to serve a third term.

B) Jim Cramer's 17th call of "the bottom" convinced investors that it was time to go long.

C) The Chicago Bulls cheerleaders, the Luvabulls, said that they were going to help homeowners struggling to make payments by raising money with a bikini car wash.

D) Yahoo Finance says, 'Bargain hunting."

What a day. Incredible finish. Of course, we all do realize that the biggest up days tend to happen in bear markets as countertrend moves, right? But it was nice... I'm still long of course.

Trying to blog via email from the cell phone.