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Monday, November 24, 2008

Citigroup Saved, Stocks Surge, Obama's Team Accepted

Yes, but how will it all work out tomorrow. Can the DOW stay at its present anemic 8,500ish area at least. Or does it break through the 7,000 point barrier into 6,000 territory. The signs still indicate the latter.

There appears to be a coalescing of opinion on how to work with the economic crisis - throw tons of money at it. Is it real money? No one seems to care.

Reuters: Wall Street flies after government rescues Citi
"The markets love a bailout," said Brian Gendreau, investment strategist at ING Investment in New York. "It seems to have instilled a bit of confidence in the sector itself."

Adding to the optimism, President-elect Barack Obama named his team of economic advisors -- viewed as being favorable for Wall Street.

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