Monday, October 13: Dow soars with 936.42 point gain

Wikipedia - "2008 - On September 15, also known as "Ugly Monday" [10], the DJIA loses more than 500 points amid fears of bank failures, resulting in a permanent prohibition of naked short selling and a three-week temporary ban on all short selling of financial stocks; "Dark Monday" September 29 brings the largest daily point drop on the Dow (777.68, almost 7%); the DJIA closes below 10,000 on October 6 for the first time since 2003; October 10 brings record volatility with an intra-day 1,018 point swing; "Manic Monday", October 13 brings the largest one-day Dow point gain ever (936.42) and biggest percentage gain (more than 11%) since 1933."

If October 13th is followed up with additional up days, many believe this will signify a sense of renewed confidence in U.S. capital markets and the intended effect of the bailout plan will have been achieved. Moreover, President Bush assured the nation that government intervention will be "temporary and limited." Later news reports described how our financial institutions might pay back the $250 billion government infusion. The other bit of encouraging news is that the government is not inserting itself into the management of the banking institutions receiving funds.