TWSInvestments's Commentaries
Feb
9
2010
Whipsaw Day Closes At Opening Prices
by TWSInvestments
Overall Rating:
Fun trading today as rumors circulated around 11:30 that Germany was putting together a bailout for Greece and the euro ripped $1.50 and the Dow rallied from the dead lows of the day to put in the highs in less than an hour up 230 points. The party wasn't done though as Germany as Germany publicly announced just after 12:30 that the rumors were unfounded and equities collapsed 100 points.
Does the doji in the charts signal the end of this couple-day bounce? This is a day when looking at the closing numbers doesn't do justice to the sporadic action throughout the day that lacked any conviction.
Looks like the European Union will put together some kind of package for Greece beginning a policy that may result in many more bailouts. Time will tell.
Big snow storm headed to NYC tonight...for real this time.
Tags: doji | european-union | market-analysis | euro | greece | dow
