Up Markets Calm Fears and That Felt Good
Tuesday November 25, 2008
It’s amazing what a couple of big days in the market can do for hysteria.
Friday and yesterday combined for the largest two-day bump since 1987.
If you follow the VIX index (the one outlined in this story) you may have noticed a big swing.
On Thursday, Nov. 20, the VIX was 80.86, then two big days and the index closed down to 64.70 on Monday, the 24th.
That’s a 20 percent drop in two market days.
The market needs some good news and, although this enthusiasm may not hold, it felt good for a change.
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