Stock Market Analysis – 10-16-2008
October 16, 2008 at 8:37 pm · Filed Under Broader Market
A late market rally sent the markets soaring. There was solid volume today, but the NYSE ended with slightly more down volume still (46% up vs 50% down). However, the Nasdaq was overwhelmingly up (87% up vs 13% down) as Ballmer sparked the YHOO merger rumors again, only to have MSFT issue an official statement that they have no interest in YHOO. After the market close GOOG also delivered an unexpectedly good earnings report that sent the stock up 10% after hours. I wouldn’t be surprised to see the bounce follow through tomorrow to close out the week, but once again, don’t expect it to last very long. Will it be enough to get another good short opportunity?
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