The Dow Jones Industrial Average was up for the second straight day. The Dow was only up 3 points today after being up over 300 the day before. In a normal market this wouldn’t even be news but in this market two straight up days is monumental. Hopefully we have seen the bottom of this market or are somewhere near the bottom. The market was up yesterday amid news from Citigroup that the banking giant made a profit the first 2 months of this year. Citi’s stock has rebounded from $1 to $1.50. I am glad that the market has turned upward after the brutal sell off but I am not sure what has changed exactly. It is good news that Citigroup is turning a profit but considering that we don’t know the extent of the losses at Citi; I am not sure why the stock is trading up. It is good to see optimism back in the marketplace even if it just based on hope.
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