Wachovia headquarters is raided by securities regulators in an auction-rate probe.
After briefly dipping into negative territory, the stock is up over 10% on the day.
JP Morgan warns of potential losses in its prime loan portfolio.
The stock gapped up and is currently up over 10% on the day.
To see how long this rally can run, keep watching stock price reaction to the news. In the coming week or so, I think there will be many more revelations and negative stories met with stock gains.
Apparently the stock market just needed some bad news to allay investor's fears.
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