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Stocks Rally On Black Friday |
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Written by Value Seeker
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Saturday, 24 November 2007 |
The day after Thanksgiving is traditionally a low volume day on Wall Street. In the thinly traded, shortened day, stocks managed to up by quite a lot.
The market had been taking a beating in November. Prior to Friday's trading session, the S&P 500 was down for the year.
While shoppers were out bargain hunting on Black Friday, many investors seemeed to believe they were finding bargains in stocks. Notable stock moves was E-trade, up by about 25%, on rumors of takeover talks.
Disclaimer: Author currently long E-trade (ETFC).
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