Bungee markets continue. Dow faints of dizziness.

Posted on May 25, 2010 by in Letters

Once again today looks like a reversal day.  The Dow was down 290 points in the first five or ten minutes and spent the rest of the day clawing its way back to finish 22.82 down.    We have called these bungee markets and the term is vividly descriptive.  The trading day two days ago looked like a bungee reversal day-- evidently wasn't.

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