Online Stock Trading | Rumors Lift Stocks

Rumors Lift Stocks

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1:15pm EST  Stocks get a boost from a CNBC report a bailout for Bond Insurers. 

Stocks were headed for another bearish close till rumors were perpetuated by CNBC that a bailout was close to being finalized for Bond Insurers.  This story is nothing new but it helped traders jump back on the stock market bandwagon!  Volume rose on the day giving another bullish day for stocks but on the back of a Wall Street rumor.  What remains out there are continued write downs from the sub-prime and prime mortgage market.

We remain running in place at the moment.  We have moved very little.  Tread carefully!

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