Dow's biggest 2-day run since '87

[sabra]

Source: CNN Money

Citigroup rescue and Obama economic team picks propel stocks. Dow sees its biggest two-session point gain ever and biggest two-session


NEW YORK (CNNMoney.com) -- Stocks surged Monday in a broad rally as Citigroup's massive rescue package and President-elect Obama's picks for his economic team pushed investors off the sidelines.

The Dow Jones industrial average (INDU) gained 388 points, or 4.8%, according to early tallies, after having been up 552 points earlier in the afternoon. The Standard & Poor's 500 (SPX) index rose 6.4% and the Nasdaq composite (COMP) gained 6.3%.

The market also rallied Friday. The two-day percentage gain for both the Dow and S&P 500 was the biggest since Oct. 1987. The Dow's two-day point gain was its biggest ever.

"There is a massive amount of liquidity on the sidelines but it's sitting behind a dam of fear," said Stephen Leeb, president at Leeb Capital Management.

Read more: http://money.cnn.com/2008/11/24/markets/markets_newyork/index.htm?postversion=2008112415

[Xipe Totec]

1. We've almost recovered 10% of what we lost!

Yay! :party: :bounce:

[mamameow]

14. bfd!

wow, so i may get back 10% of the 6000.00 i lost since last thursday. wow i feel really good!!!! at 67 years i am really pleased with 10%, now i have 22,000 left of MUCH bigger amount!!!!!!

[Xipe Totec]

18. If you can't recognize sarcasm, you souldn't use it...

:P

[msongs]

2. did starbucks get back to $38 from $8 now? oh never mind : - ) nt

[Chan790]

6. I don't know but...

they're going to make me rich. I have over 100 shares of stock bought at employee discounts as low as $12. A jump to $38 would allow me to cash out and pay off most of what is left on my student loans. Pretty soon I will have zero outstanding debt and a total of $500 in available credit...just like I like it.

[lapfog_1]

3. I would rather see 20 days of 50 point gains

unbroken.

current volatility is still very troublesome.

[Zynx]

13. In the 2003 market recovery we saw a series of 100-150 and some 200 point days when we started to

inch out of that epic bear market. This one is actually only slightly worse, in terms of the stock market alone, though it certainly is steeper.

[onehandle]

4. Thank to the steadfast and brilliant leadership of President George W. Bush!

No, not really.

[Mojambo]

5. Alright! Bring on the fake riches! n/t

[Frank Cannon]

7. Hosanna! We're saved!

We'll never go hungry again!

[sendero]

8. A final opportunity to short..

... the market.

[NickB79]

9. Watching the stock market is like watching a drunk driver

One minute they're swerving towards the ditch, then the next they swerve back towards the yellow line. No matter which way they swerve, you know they're still very dangerous.

[fascisthunter]

10. lol....

after how many billions... or is that trillions of tax payer dollars?

[Dr.Phool]

11. If you're smart, you'll get out now.

Just another sucker rally, getting ready to fleece the sheep...again.

[Art_from_Ark]

15. Well, I'm placing my bet on red

I mean, a Dow index fund. No, wait-- make that bet on even-- an S&P index fund. No, wait, 8 is my lucky number, so I'll bet on this year's 8th best performer among the Dow 30, which is... Exxon Mobil! Yeah, that's the ticket!

[Art_from_Ark]

16. Speaking of a Dow index fund,

take a look at this. Only one company is in positive territory on this list. Guess which one?

http://www.nasd100.com/2008/11/year-to-date-15.html

[bemildred]

12. Five point gains and losses are neither one signs of stability. nt

[agent007]

17. Obama's nomination for the treasury was the catalyst

Since Obama appointed the treasury chief, WS has experienced a huge jump.

[704wipes]

19. DEAD.CAT.BOUNCE

might be all it amounts to...

[eridani]

20. Yep. My "liquidity" is not going back into the market.

No how, no way.