Yes, that's true, there was a lot of "fear" out there, but something changed between the time the market closed on the 8th and the opening on the ninth.
On the 8th the COMPQX closed at 1419.12, a loss of 3 percent for the day, but on Friday, the COMPQX closed at 1492.49, a gain of 5.2 percent. Then on Monday, it closed at 1546.08, a gain of 3.6 percent, by Friday it closed at 1620.95, an overall gain for the past 6 trading days of 14.2 percent. If a person "blinked" a couple of times during that period, the whole thing would have been missed.
Investors might have been "afraid", but they sure recovered from their fear very quickly. Something(their mother perhaps?<gg>) must have patted them on their back Thursday night when they went to bed to make them lose their fear by Friday morning?
Don |
