The Dow closed just shy of 9,400, gaining just over 940 points. That represents an 11% gain today. That would be a point and a percent record for a single day. Volume was around 7 billion shares, which would be a low-volume day. Those expecting or hoping for an end of the day fizzle (myself included) are left scratching their heads. I was expecting a rally through the week, but not with such an explosive gain at the onset. While some of the rise is due to the magnitude of the recent sell-off, I attribute a significant amount of the gain to the government intervention. As such, I remain fairly convinced that the market will give back some of the gain (manipulations fail in the long run). I expect continued volatility into options expiration, and will sell the rally.
Dow Has Record Gain
