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My portfolio still lives … Bulls are rallying!

February 28, 2007

Wall Street on Wed. (AP)

Analysts wondered whether the bulls or bears would come out to play today, the day after the biggest Wall Street decline in seven years.

We got our answer early today … the Dow at 11:17 a.m. is UP 113+! BOOYAH!

CNN Money is reporting that the rise is due to:

  • Federal Reserve Chairman Ben Bernanke saying Wednesday that the “markets are working well”
  • The Shanghai and Shenzhen indexes rebounding almost 4 percent in China Wednesday (though others around the world kept on falling).
  • The Commerce Department saying gross domestic product rose 2.2 percent in the fourth quarter, versus an earlier estimate of 3.5 percent growth. The reading was just a shade below average forecasts.

I’ll update here later on how the final numbers look…

[UPDATE: Dow Jones industrials rose 52.39 Thursday, or 0.43 percent, to 12,268.63. I’ll take it. Practically even now for the year.]

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