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October 14, 2008 01:11 AM UTC

"Miracle Monday" Cements Glorious McCain Comeback

  • 6 Comments
  • by: Colorado Pols

Don’t you hope agaist hope, Money exults:

Stocks rallied Monday afternoon, with the Dow up 976 points during the session, as investors bet that the worst of the credit crisis is over, following a series of global initiatives announced over the last few days.

The Dow Jones industrial average (INDU) ended 936 points higher, after having risen as much as 976 points during the session. The advance was the largest ever during a session on a point basis. The point gain was equal to 11.1%, the fourth-best day ever on a percentage basis.

The Standard & Poor’s 500 (SPX) index added 11.7% and the Nasdaq composite (COMP) added 11.8%.

Stocks were buoyant Monday as investors welcomed a global effort to unfreeze the credit market and get money flowing through the system again. Although stocks reacted positively, credit markets barely budged.

If the title of this posting isn’t sufficient troll bait, we heard the guy who was right all along about how to stabilize the banks was George Soros. Game on —

Comments

6 thoughts on ““Miracle Monday” Cements Glorious McCain Comeback

  1. except for the fact that as of Friday close, those indexes were down 40% from the peak and about 20% in the past eight trading days.

    Today’s gains roll back the losses by two or three days.

  2. because he thinks the Dow will keep increasing for the next 21 days. He also seems to believe that people decide whether they can pay their mortgages based on how the Dow did that day.

    I haven’t seen Republicans this nutjobby since 1992. Here’s an example from a reader of the always entertaining K.J. Lopez.

    But now – why doesn’t he come out and say, “My friends, the good news in the stock market shows all of us that the rescue plan took some time to get going.”

    Yeah, like that won’t backfire the first day the Dow drops. Which I’m guessing will be tomorrow.

  3. I heard some talk about a McCain bounce, but I cannot find it in today’s polls anywhere. All the polls indicate basically the same spread, expect a big gain for Obama in North Dakota. Please post.

    1. When Obama leads by 5 points, that’s within the margin of error.

      When the Obama goes from 10 points ahead to 9 points ahead, that’s a McCain surge.

      “Margin of error” has one meaning for mathematicians and statisticians, and a totally different one for Republican hacks.

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