Joy in Mudville
The Dow Jones Industrial Average (DJIA) was up 320 points today as it opened up and never looked back. All the indices were up but the Russell 2000 (RUT) acted the weakest of the key indices.
I saw a video clip with Art Cashin, of UBS, today where he talked about the news from the ECB and comments by Mario Draghi. That’s when he said there was “joy in Mudville…brought in by Mario Draghi”. I thought that summed it up pretty well. But as usual, some stocks celebrated and some didn’t.
In tonight’s Weekday Market Wrap video I look at all the price action and then check in on all our trade ideas. In addition I look at Southwest Airlines (LUV) which was +7.4% today and Under Armour (UA) which was -5.4%, both on earnings releases today. Continue reading