Rumors Lift Stocks
Posted on February 24, 2008
Filed Under Market Speculator |
1:15pm EST Stocks get a boost from a CNBC report a bailout for Bond Insurers.
Stocks were headed for another bearish close till rumors were perpetuated by CNBC that a bailout was close to being finalized for Bond Insurers. This story is nothing new but it helped traders jump back on the stock market bandwagon! Volume rose on the day giving another bullish day for stocks but on the back of a Wall Street rumor. What remains out there are continued write downs from the sub-prime and prime mortgage market.
We remain running in place at the moment. We have moved very little. Tread carefully!
Market Speculator
Comments
Leave a Reply
