RE: wow...taken from TD Waterhouse April 8,2009
Some market participants said the recent dip in the market has created an attractive entry point for investors who don't want to miss out on a continued upswing.
"We're still in the midst of that rally," said Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York.
"These guys that run mutual funds, they can't miss the rally. If the S&P starts to go positive and they are behind, they are going to have to start buying just to keep up with the return. That's why this rally might have legs."
There was some positive news from the housing industry as Pulte Homes Inc. said Wednesday it has agreed to buy rival Centex Corp. for US$1.3 billion.
The stock deal will create the United States' largest homebuilding company and suggests that deals are still possible even in one of the economy's more troubled industries.