Fascinating juxtaposition between the cover of this week’s Barron’s and the market action today: A bull, crying over the market, with the tissue box chart pointing downwards. (There were bullish articles inside, like this: America For Sale: Price Reduced)
That hit my inbox Saturday morning. Today, the Dow had its biggest single point gain ever: Dow Surges Nearly 1000 Points.
Pretty cool, no?
UPDATE: October 13, 2008 8:10pm
Speaking of contrary indicators:
The Washingtonpost.com has launched a video series, “Hard Times,” by Emmy Award-winning producer Travis Fox, that helps to translate how the financial crisis and market turmoil are affecting individuals across the country. The series is a reflection of the economic issues that will be a top priority for citizens voting in the presidential election.
Over the next couple of weeks, Fox will travel from California to D.C. talking with people in areas hardest-hit by home foreclosures, loss of retirement funds, unemployment, the rising price of food and gas and other economic challenges.
“Hard Times is meant to be a hard-hitting, poignant series focusing on the pain, suffering and dashed hopes of people brought about by failed economic policies on Wall Street — and how this all may affect the outcome of an historic presidential contest,” said Eric Pianin, Politics Editor at washingtonpost.com.