Tuesday, December 18, 2007

Markets recover by end of day

Stocks rebounded in the afternoon. Dow ended up 65, advancers beat decliners 3-2 & NAZ was up 21. In the afternoon the European Central Bank's $500B loan & profit gains at Goldman Sachs and Best Buy looked better to the market. Best Buy (BBY) ended up 48¢ while Goldman (GS) was down "only" 7. Go figgah! Problems such as credit crunch, terrible housing market, sluggish retail sales & high price oil remain.

Bank of America (BAC) remains just under 42, a sensitive point in recent years. It's still trying to make up it's mind which way to go.

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