Stocks Jump 200 In Early Trading
Stocks are up big in early trading. The interesting part will be whether or not the stocks can hang on to the gains whereas in recent days, it seems early morning rallies have faded fairly consistently later in the day. Many stocks up are a few percent, and of course, the company in all the headlines these days, BP has jumped over 10% today after getting slaughtered yesterday.
Does any of this matter? Not really. We’re in a volatile period of time in the stock markets where triple digit moves are the norm. It’s worthwhile to pay attention to the overall market trend, but jumping in and out of positions based on these moves is pretty worthless in my opinion.
Gold is lower on the day; however, as long as we’re above 1200, it’s hard to get down on the gold trend.