October 11 2008 Shades of 1929. 1000 point range in the Dow

Posted on Oct 11, 2008 by WHC Bassetti in Letters

October 11 2008 Friday Volatility in the Dow Industrials

Climax day? Abject Capitulation? Surrender? Throwing in the towel? Who knows?

Friday, in another example of bungee markets the Dow transversed 1000 points like a squirrel on meth running up and down a tree. We have called these markets bungee markets and squirrel markets. It reminds us of the time our golden retriever Rosebud (named for the sleigh (or Marion Davies)) ate the kid’s chocolate birthday cake (entire) and then proceeded to act like the Dow for a couple of hours running frantically to and fro.

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