Geithner Bounce?

[Emit]

Did stocks rise 494 points on the Geithner bounce?

Dow Surges 494 ...

Stocks bounce on Treasury Secretary report. Wall Streeters welcome reports that President-elect Barack Obama has chosen Timothy Geithner as Treasury Secretary ...

US stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen ...

http://www.google.com/search?hl=en&q=geithner+bounce&aq=f&oq=

[midnight]

1. Stocks going up and gas going down..... It is a better day.

[DJ13]

2. Today was options expiry

The market had to come back somewhat to prevent too many options from ending in the money.

In other words, it was just the usual once per month market manipulation so the big options writers dont lose money.

But if they want to promote Obama's choice as being worth 500 points, I wont tell them otherwise.

[Emit]

4. Interesting visual at this link

Showing the bounce occuring after 3pm, shortly after the news of Geithner was leaked.

Video at this link:
http://abcnews.go.com/Politics/wireStory?id=6303448

[TheFarseer]

3. it's actually a little scary

if those market A-holes like the pick so much. And I say this as someone who has never heard of the guy before.

[PM7nj]

7. You're right...

It would have been much better if the stock market dropped 500 points after Obama's nominee was announced.

:crazy:

[jillan]

5. I think it was Tweety that said that investors are just looking for some leadership and

Obama gave them that today.

For whatever that's worth :)

[dkf]

6. I've been hoping and praying Obama would start to assert economic

leadership. Thank goodness he knows what is needed, not like that nincompoop George W. Bush who is willing to sit around while everything burns down around him.