Stocks Shake Off Early Morning Hit And Rally Off The FOMC; Nasdaq Suffers Third Distribution Day In Four Weeks.
December 12, 2006 | Leave a Comment
Stocks started the day pretty calm and soon gave way to some very rapid selling that dropped the indexes hard to their lows of the day; the Nasdaq fell as much as 1%. However, stocks found strong support on that selling and after the FOMC announcement stocks worked higher finishing well off the lows. Overall, a very impressive fight back from what looked to be like a really bad day in the making.
