Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, October 23, 2006

Up, Up, and Awaaaay!

Wal-Mart was up 3.9%, GM was up 5.5%, and the blue chip average flew waaaay beyond investors' expectations, ending over 114 points higher. The cause for all the positive numbers lately? Some say its new money coming into the market from mutual funds; others claim momentum-seeking hedge funds switching out of commodities into stocks and skeptical investors forced to cover short bets. And Enron's Skilling was sentenced today to 24 1/4 years in prison for his part in the 2001 collapse of the company. Compare that to other Enron executives. DJIA: +114.54 Nasdaq: +13.26 S&P 500: +8.42