3/19: Stocks Decline After Huge Rally

[run2Jesus]

http://news.yahoo.com/s/ap/20080319/ap_on_bi_st_ma_re/wall_street

[run2Jesus]

NEW YORK - Stocks pulled back Wednesday as investors cashed in gains a day after the market's huge rally and digested better-than-expected results at Morgan Stanley that eased concerns about the investment banking sector. The Dow Jones industrials at times gave up more than 200 points.

ADVERTISEMENT

News that the government plans to free up billions of dollars at Fannie Mae and Freddie Mac, a move that could help struggling homeowners, initially appeared to quell some of the market's fears. But it couldn't stave off selling late in the session by investors who have seen big advances evaporate many times during the course of the credit markets crisis and decided to preserve some of their gains.

Investors sent stocks charging higher Tuesday on stronger-than-expected investment bank results and several moves from the Federal Reserve in recent days, including a 0.75 percentage point rate cut aimed at jump-starting the credit markets. The Dow rose 420 points, its second 400-plus point gain in six sessions
more at above link....

[isawthelight]

The market gave back 300 points today. Tomorrow is the last trading day of the week. The dollar will fall further. Oil will shoot back up tomorrow. As will gold. Anyone with a brain will tell you these 1 day "fixes" do more harm than good.