Stocks struggled out of the gate yesterday after the big Turnaround Tuesday, but the market found its footing and rallied strongly into the close. The Dow gains 131-points.
For the TSP, the C-fund gained 1.84% yesterday, the S-fund was up 1.91%, the I-fund added 1.54%, and the F-fund (bonds) lost 0.39%
Follow through off a big intraday reversal has been a big theme the past two months, and we got more of the same today.
In spite of a negative open, the market didn't take long to begin chopping its way higher. But it was another volatile session, which saw the bulls and bears battle it out throughout the day. But early in the afternoon session the bulls took control and sent the broader averages to a second straight day of significant
Stocks were down sharply early yesterday to the tune of about 250 Dow points, then nearly crawled back toward break-even by early afternoon, but the rebound failed and the indices tested the day's lows again. That would have been wild enough, but as the lows were being tested in afternoon trading, the buyers stepped up and the Dow shot up well over 300-points off of those lows to close up 153-points.
The market opened with a gap down and within about 30 minutes hit its lows of the day. From there it was a roller coaster up into positive territory and then back down into the red. And with just 40 minutes left to the trading day and the market seemingly poised to push lower into the close, a massive short covering rally developed that saw the S&P 500 move at least 4% in those last minutes. Our S fund was even more impressive with more than a 5% reversal into the close.
Updated 10-05-2011 at 08:02 AM by coolhand
October and the 4th quarter did not start any better than September and the 3rd quarter ended. The Dow lost another 258-points and we are seeing new intraday and closing lows on some of the major indices.
For the TSP, the C-fund was down 2.84% yesterday, the S-fund dropped 4.93%, the I-fund fell 2.95%, and the F-fund (bonds) gained