08 Mar 2002 Out with the Old and In with the New
Posted at 16:00h in The Friday BriefThe week has been an exciting one for stock investors as proof of a turn in the economy mounted. Notably, in yesterday’s Congressional testimony, Mr. Greenspan said the economy is “already improving,” revising comments made before Congress just a week earlier. Professionals on market trading floors say this rally represents real buyers, not just short-coverers. Also encouraging is the fact that the rally is more orderly than previous ‘panic’ rallies where money managers feared being left behind and, consequently, over-inflated stock prices as they bought in at any cost.