Closing Bell 09.13.07

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Sponsored by Financial Times.
Yesterday we asked which was the correct Jewish New Year trading strategy: buy Rosh Hashanah or sell? It seems, at least on the first full day of the holiday, that buying has been a favored strategy by those who remain desks. On the New York Stock Exchange, 2,145 stocks rose and 1,132 declined. But volume was way light, with just 957.3 million shares trading hands on the exchange.
The other indexes saw some light and sweet action today. The DJIA up 133.23 at 1.00%. The Nasdaq up 8.99 at 0.35%. The S&P 500 up 12.39 at 0.84%. And our random index of the day: AMEX computer tech index down -0.29 at -0.03%.
The beast that is the credit market seems to be quelled somewhat which was evident in the light end-of-day upswing evident in the markets. Even the dreaded commercial paper market is showing signs of life. Seems it was thrown a proverbial bone (read: Countrywide gains) as confidence is starting to even out.
Investors in GS Global Alpha fund were disappointed today when they received notice that the fund has lost a third of its value since the beginning of this year. This follows a 9% loss in 2006.

--by Silas Greenback.

Take it from us, FT Alphaville really satisfies.

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