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Closing Bell: 08.06.07

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For whom the bell closes: Financial Times
Rally monkeys eye-gouged, fish-hooked, and did several other things illegal in the octagon to the leftover bears as Friday's 281 point Dow dump was whitewashed with a 2.2% gain. The Nasdaq finished up almost 1% and the S&P was up 2.4%.
Financial stocks led the way, averaging more than a 5% jump per company. Bear was down as much as 8% in morning trading but rallied in the last half hour to close 5% higher amid a bailing co-president and S&P's whining that investors were overreacting to Bear's outlook. UBS even upgraded Merrill for good measure.
American Home Mortgage filed for bankruptcy and saw its share price drop (granted, about a quarter) 37% in value.
To have your brain shucked of ignorance and replaced with market insight, know the carnal treasure that is FT Alpaville