After eight continuous sessions of fall, Dow finally broke the chain and came up 936 points which is a record in itself: They say it is the highest ever % gain Dow has ever had since 1933. Why 1933? Did it gain much more before 1933 or did it come into existing then?That would be interesting to know and here comes wiki to my help.
The largest one-day percentage gain in the index, 15.34%, happened on March 15, 1933, in the depths of the 1930s bear market.
So today's gain was just 11.1% ...still way to catch up !! Lets wait and watch how the bailout deal is appreciated by the stock investors. We may get a chance to see the record being broken and this time the news headlines might read
"Dow breaks all old records with a jump of 15.35%" :) ...
Indian Sensex also witnessed a huge jump yesterday.. But I am sure that my portfolio is still 50% red and hence I qualify for being a long term investor...
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2 comments:
I dont blame you for being optmistic...but, the markets are completely insane now....As many as 100 banks could fail in the US in the next one year if the bailout doesnt involve buying the toxic assets. Then we should see how business survive with absolute lack of credit in the markets....some tough times ahead...
I agree with you my friend.. I hope some people like you are there in market to get us out of this mess !! Lets wait and watch what Obama does !
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