Well, I was a little off in my prediction of the bottom, but still 8600 was pretty bad, and that's not to say that this bounce isn't just a temporary upswing before more very dramatic drops occur.
I was kind of sensing there was going to be a bounce on Monday after the close on Friday because the DOW went way down again but finished the day close to the open. (I didn't try to capitalize on it)
So yesterday, 900 points was a great day for anyone who bought at the open and sold at the close.
Although, I don't see this huge point swing upwards as anything else other than a bounce. I don't think there's anything solid behind it. In fact, I think this point gain could evaporate again just as quickly as it went up.
Moreover, if you were looking for the right moment to get out, now might actually be the time to do so. People are scared, and they still haven't been sold on this "bailout." Plus, there is still a great deal of uncertainty about our economy and the future of this country.
If you noticed, there was illegal activity going on, and no one is being arrested. Therefore, my take is this, criminals are in control, and they're using this "bailout" to steal even more money, and they don't plan on stopping until their is nothing left, which could be a few years away, but nevertheless, there will come a time when there is nothing left for them to steal, and Americans will finally wake up when the banks own everything, and they're going to be pissed off. This is when Marshall Law will be rolled out, and things will really get ugly.
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