The Mother Of all Rallies. Theres A new Sherriff in Town
Oct 14, 2008 Stock Market News
So todays rally was huge, well, the mother of all rallies in fact. The Dow Jones clean sweeped the previous record, which was 603 points i think i remember them saying on CNBC today, and closed up a whopping 936 points! This was also the largest % gain since 1932 and the 5th largest % gain in the history of the stock market. This is by far one of the craziest times in the stock market that you will witness in our life time. We’re gonna look back at this time in 20 years and say remember when we would see 500 point days in the Dow as if it was normal, dow futures would rally and fall near 200 points after market hours every session, and we would break new records just about every week the largest rallies and declines in a single day? This truly is a unique time that we are in for the stock market. Even though it has been a rough trading environment, it will be fun to talk about later in life for memories and stories to tell.
The most important thing is that we come out of this unscaved and prepared to make the right trades as they arise. Don’t force any stupid trades, stay conservative in this volatile market, sure you can place big bets and win big but with the big moves we are seeing these days your gonna lose big trying to gamble this market. And i don’t want too see you have to give up on trading because you got greedy and lost all your money. Diversify!
In any regards, it was nice too see some green today. But it doesn’t really matter what direction these stocks are heading we can day trade either long or short. The fact remains that the current market conditions are still extremly volatile, thus still highly dangerous. I mean shit the dow rallied 1000 points today, the market is still highly unstable and unpredictable for holding anything trying to swing trade. Day trading and cash remains King.
Theres a new sherrif in town.. But looks like hes a little out numbered hehe.
Tags: Day Trading, DOW, dow futures, dow jones, market, rallies, single day, stock market, stocks
