Thursday, August 2, 2007

U.S. stocks end solidly up on bargain-hunting

NEW YORK (MarketWatch) - Stocks ended a wild ride solidly higher Wednesday, with the Dow adding more than 150 points in the final hour as bargain-hunters flocked to an oversold market after a choppy day fueled by discomfort over the shaky housing and credit markets.
"Because the market was over-sold enough, and the sellers had done their dastardly deed, at about 3:35 p.m. New York time, it looks like the sellers said 'hey, that's all I have,' bringing on the bargain hunters," said Al Goldman, chief market strategist at AG Edwards. "Then we had a lemming factor."
Chart of $INDU

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