Everybody Back in the Pool

November 14, 2008 6:00am by Barry Ritholtz

Here I am, seen diving back into the water:

As the photo reveals, I no longer diet. Instead, I am waiting to hit a specific high weight, at which point I will merely declare a 2 for 1 split.

From Thursday’s Yahoo:

At their intraday lows, the Dow was below 8000, while the S&P and Nasdaq were below their respective October lows of 840 and 1,504.

“We are buyers as markets approach those levels again,” Barry Ritholtz CEO of Fusion IQ wrote on his Big Picture blog, noting markets typically move in a pattern of “bottom, rally, retest, rally.”

Since major averages subsequently rallied about 18% from their October lows the first time, traders are hoping for a repeat performance.

Source:
Everybody Back in the Pool: Dow Soars 553 on ‘Retest’ Bets
Aaron Task
Yahoo Tech Ticker, Nov 13, 2008 04:17pm EST
http://finance.yahoo.com/tech-ticker/article/127915/Everybody-Back-in-the-Pool%3A-Dow-Soars-556-on-Retest-Bets

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