The economy didn’t change over the last 24 hours, and corporate profits stayed strong. And yet investor sentiment couldn’t be more different. A day after closing down 1175 points, the Dow Jones Industrial Average clawed back, ending up 567 points on the day. From a record point loss to the best point gain in nearly three years. Barron’s spent the day surveying strategists and investors. The quote that best sums up today’s trading comes from David Kotok of Cumberland Advisors. “The time to be a buyer is when it’s really ugly.”
Read the full article at Barron’s.