Wednesday, December 3, 2008

US stocks continue rally

Stocks in New York added another 2% to this fledgling rally as the Dow ended the day at 8591 while the S&P closed at 870. Shares were largely unchanged in India as the Nifty closed at 2656 and the Sensex at 8747.

Look for more gains tomorrow as the Dow makes a run at 9000. I doubt it will get there but it could well be close based on the strong navamsa conjunction of the Sun and Jupiter. I am expecting Thursday's gain to be bigger than today's, so that might mean something on the order of 3-5%. India will likely enjoy the lion's share of gains on Friday (IST).