• Oct
  • 13
  • 2008
  • 9:13 PM

I Take a Day Off; Dow Surges Record 936 Points

By: Ray Pellecchia
File Under: NYSE

I take a day off, and look what happens:

Dow's Record 936-Point Surge Ends Losing Streak (WSJ.com) -- The Dow Jones Industrial Average leapt 936.42 points, or 11.1%, to 9387.61, in its biggest single-day point gain ever. The rally ended a miserable eight-day slide in which the Dow fell almost 2,400 points.

Maybe I should take the whole week off? And do everyone's 401(k) a big favor?

And to think, I was all worried about taking the day, thinking something near-cataclysmic-bad would happen, as it always seems to do lately. Happy to have been wrong about that.

But when I'm back tomorrow, if the market starts tanking again, I'm going to wonder. Like when you're favorite team is winning but starts getting clobbered as soon as you turn on the game.

Not that I'm superstitious.

Knock wood.

Comments

Ray--do us and the market a favour. Go take a month's off. :O

by icann on October 14, 2008 8:32 PM

one thing I can't understand, the Dow jones goes down 936 or 700+points and at the closing bell you have these people clapping hands, surely it's nothing to rejoice about.

by Jean Gilles Fortier on October 16, 2008 12:26 PM

Jean Gilles -- The folks ringing the bell generally are applauding whether it's the open or the close, and whether the market is up or down. They are guests from a listed company, member firm, or they're a head of state or some other type of dignitary or celebrity visiting NYSE to mark some sort of occasion, such as a new product or service at a company. So they're applauding because of the visit or the occasion, not because of the market's move that day. I know that might appear odd at times, but that's what the story is.

When the market is down, maybe you could think of it as people being relieved that the day is over!

Thanks for writing, Jean Gilles.

by Ray Pellecchia on October 16, 2008 12:52 PM

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