I'll bet you a dollar it's not.
The Dow trimmed its losses to finish down 131.24 points, or 1.1%, at 12029.06, off 9.3% on the year. Many traders believe the market is stuck in a range between 12000 and 13000 -- a level it hasn't touched in a month -- because key questions about companies' balance sheets and the health of the economy remain stubbornly unresolved despite fervid efforts by chief executives, central bankers, and other officials."Right now, the market really is a pinball bouncing between these technical levels," for the Dow, said Chris Johnson, president of Johnson Research Group, in Cincinnati.
Thursday, June 19, 2008