Big Reversal to End Positive

Friday, February 05, 2010

  • The Dow dropped as much as 167 points before recovering in a late-day rally to close up 10 points. Nice large bottoming candlestick to encourage the bulls and force the shorts to cover. Definitely a wash out of selling in some key names: AAPL, GS.

  • Consumer credit falls again for the 11th consecutive month as Americans continue to delever their households.

  • At least we get to enjoy the Superbowl this weekend because the Dow is back over 10,000. Whew, I know I was dependent on that psychological number!
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