Another Wild One On Wall Street

November 20, 2007 at 1:40 pm  ·  Category: Market Commentary

Stocks were up in the morning on the strong report and forecast from Hewlett Packard (HPQ).

But they started to sell off in the afternoon as investors digested Freddie Mac’s (FRE) report of a $2 billion loss for the 3rd quarter and an $8 billion decrease in the fair value of its mortgage portfolio (FRE 3Q Earnings Release).

After being up big, stock were down big. 

And now we are seeing another reversal with a strong late day rally putting stocks back into positive territory:

S&P 1 Day Chart.gif

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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