Nasdaq Manages an Up Day; Bottom-Fishing in Evidence

While it was another down day for the Dow Jones Industrial Average, the Nasdaq Composite actually broke a string of seven down days and posted a modest gain: The index rose 4.39, or 0.3 percent, to 1,649.51. The index nonetheless finished the horrific week with a loss of nearly 298 points, or 15.3 percent. At one point today, the index touched as low as 1542.45, stretching the loss for the week to just over 400 points, or nearly 21 percent. Astonishing.

One interesting development in today’s whipsaw session was the emergence of what appears to be some selective bottom-fishing. Apple (AAPL) was the most obvious example; the stock rebounded $8.06, or 9.1 percent, to $96.80, aided by some bullish comments from Oppenheimer as well as anticipation of the company’s pending launch of new laptops at an event on Tuesday.

Read the rest of this post


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »