Stock Market Today: Unexpected Last-Minute Bounce For Stocks Though Oil Rout Continues - TheStreet

Stock Market Today: Unexpected Last-Minute Bounce For Stocks Though Oil Rout Continues - TheStreet



This is an excellent report from The Street for the 2nd day of big stock market declines which are blamed mostly on the fall of oil prices.  The Dow looked like it was in full recovery mode around 3 p.m. but the market fell back again toward the last.  I was so confident in the recovery that I bought UDOW, the 3x Dow ETF, for part of my portfolio.



I believe we will probably have a good up-day tomorrow.  Some people were probably selling into the 3 p.m. rally, and that is most likely one reason that the rebound did not hold.  $NYMO is at -38.93, and there is a good chance we will have a full reversal soon even if it only lasts a week or two.  I bought UDOW early, but I believe I will still be able to make a profit in the next two weeks because the economy is doing okay.  Stocks will always eventually rise when we have a stable economy and the weak hands have been flushed out of the market.