Stock Market Today - Stop Press the Stock Market is a JokeYesterday morning (26 February) the DOW was down around 188 points on bad news and the economy etc... etc... then for no reason and quite out of the blue the DOW and all the other stock markets rallied back around 150 points and finished the day just 50 points down.
So why did the stock market today rally 150 points in a few hours ? It seems that news came out of Germany that the Germans were going to help the Greeks - so all of a sudden everything was fine and people started buying back all the stocks they had been selling 5 minutes earlier. Except that the news wasn't true.
So why did they believe it was true ? - and this is where it gets really nutty - because their scrolling computer screens weren't big enough ! The end of the message that caused the rally got cut off - and the end of the message (that nobody saw) said that it was only 'advisors' that they were talking, there was no official statement about help for Greece at all. So the stock markets rallied 150 points on false news.
So today now that people know that the news was false, did the DOW slump back down 150 points ? Nope not a bit of it. It was all just forgotten.
Can we conclude that the stock market is totally illogical and moves about with no rhyme or reason - or does it move to where the people who are in a position to actually move it want it to move ? Somebody decided to go long and decided to drive the markets up after they had gone long. Is it that simple ?
So what is the stock market doing today ? Advancers and decliners in the S&P 500 are almost equal.
The FTSE closed up 76 - the DOW is currently up 8 - volume is low - the weather is bad and the weekend is almost here. Will there be another computer screen message with no news to drive the markets down again ? You can't help reaching the conclusion that it's all a bit of a game.
The indices are mixed and confusing and not worth getting involved with right now.
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