1 posts and columns on whipsaw

Nasdaq Manages an Up Day; Bottom-Fishing in Evidence

in News on October 10, 2008 at 4:32 pm PT

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.