Market Recap: Explosive Rally…Yawn

Put On a Happy Face

The Reformed Broker, AKA Pedro Cerrano, here with today’s Market Recap…

Either the bulls brought their “A” Game or the bears forgot to set their alarms, ’cause the action today was up from the open, with the DJIA up roughly 2% all day. 

Here’s the 3:30 look at the Dow:

As of the close, we saw a bit of a fade from the highs…

The FOMC decided to stay easy, with the target rate remaining at 0 to.25 bps.

The Treasury announced the receipt of over 100 applications for the public-private toxic assets swap meet.

Ken Lewis had his big referendum today at the B of A shareholders’ annual jamboree, and as of this writing, the results on the vote tally are still unclear.  Will he stay or will he go is still the question.

Tonight, we’ve got earnings from Visa (V) on tap with The Street looking for .64 per share.

Thanks for reading The Reformed Broker today, have a nice night.

Full Disclosure: MY commentary above is for informational purposes only and should not be viewed as an invitation to buy or sell any securities.  For a full disclaimer, visit my Terms & Conditions page.