Trading in WallStreet - October 10, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 8,451.19
Trade Time: Oct 10
Change: Down 128.00 (-1.49%)
Prev Close: 8,579.19
Open: 8,568.67
Day's Range: 7882.51 - 8901.28

It was the most volatile trading session ever in WallStreet. A real roller-coaster ride!

The DJIA declined steeply just a few minutes after the opening bell and was down almost 700 points to break well below the 8000 level.
It then recovered in just over an hour to wipe out most of its losses.
In then went into another decline; and for most of the mid-session, it traded deep in negative territory. It tried to stay above the 8000 level.
In the last hour, the DJIA mounted another huge rally. At one point, it went up by 150 points in just about 20 seconds. The dizzying run-up had the market up more than 300 points in the last half hour of trading.
Another late-session sell-off then had the DJIA give back its gains and end with another triple digit-loss.

If the DJIA was able to keep its gains; it could have been a key reversal day. But with its ability to recover from such a deep decline and a closing of more than 500 points off its low, it keeps investors hopes of even a technical rebound alive.

The DJIA moved within a 1000 point trading range (the largest in its history). From its day's low, it moved 12.9% higher to reach its day's high.

WallStreet had a record volume of more than 10bn shares traded.

The DJIA fell from last week's close of 10325.38 to 8451.19 last night. The decline of 1874.19 points (-18.15%) this week is probably also the worst.

From its all-time high of 14198.10 (exactly one year ago today - Oct 11, 2007); the DJIA touched a low of 7882.51 last night or a retracement of 6315.59 points (-44.48%).