

DOWS closed 400 points higher, trading in an 800-point range during session
U.S. stock indexes shot higher in a late-session bounce back
from the prior day's rout, after dismal economic data was overshadowed as the
price of crude dropped below $70 a barrel for the first time in more than a
year. The Dow Jones Industrial Average
gained
401.35 points, or 4.7%, to end at 8,979.26.
What angmos said,
Day-to-day, and even intra-day, swings of ~1000 points are
just plain nuts. I wouldn't go anywhere near this market. The only thing that
makes sense is to look at the fundamentals of the real economy, which stink. I
see absolutely no mechanism that is going to change the dynamics of the
situation. It is going to get much worse, as we are locked into a total
negative feedback loop and the sprial is tightening. All the government can do
is print up even more funny money to throw at the problem.
I suggest investing in a healthy stock of canned and dried foods and other
basic supplies. If hyperinflation hits as a result of the massive (currently
~$4 TRILLION worth of) new borrowing, we may very well wind up being able to
use the U.S. dollar for toilet paper, so no need to stock up on that.