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Have you been worried about whether to sell your stocks now? Freaked out about the upcoming recession all the talking heads on TV are worried about? Did Tuesday's bill selloff confirm all your deepest fears? Several times on BloggingStocks.com we've noted that selling or buying based on emotion usually leads to worse results, and at the end of the day today that truism was reinforced as the market surged back to make up for Tuesday's losses.With the confidence of a federal rate cut probably speaking to some investors, and with the usual mechanics of supply and demand and market volatility coming into play, the market jumped.
The Dow was up 2.5%, the S&P 500 up 2.1%. Even the NASDAQ, with its heavy complement of tech companies who reported low earnings, bumped itself up 1%.
Although market volatility hasn't been seen like this in some five years, the idea that this week will see only a falling market has now been busted. But the question is, will the surge continue, or just peter out?
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