Dalal street is with full of rumours about Obama s policies,and market is calculating for a positive outcome.There is a news that he is preventing introduction of wealth tax for the higher community.And with the help of Timmothy geithner he is planning a number of rescue plans to recover the recession and for the future.We can not make a prediction that is these are going to effect or boost the economy.But yesterday s was a relief rally on obama steps and citi bank news.(see yesterday s posts for details)http://dalalsecurities.blogspot.com/2008/11/obama-plans-25-million-jobs.html , http://dalalsecurities.blogspot.com/2008/11/citi-never-sleeps.html
Dow started with gain and moved to 550 gains intraday then in last hour it slide to 8443 with 396 points gains.Nasdaq and s&p500 also surged 87 and 51 points respectively.
