Big Market Bounce, Euro Crushes Dollar, Oil Knocked Down

An extremely volatile session in the stock market, resulting in the DJIA being down over 200 points prior to dramatically bouncing into positive territory; then falling hard at the close, ending the session down -92.65 to 10962.54. The Nasdaq gained +2.84 to 2215.71 and the S&P 500 fell -13.39 to 1214.91. The volatility is attributed to Bernanke's negative words, a big drop in oil prices, and the SEC's short sell curb suggestions.

General Motors (GM | Quote | Chart | News | PowerRating) climbed 5.12% or $0.48 to $9.86/share on a massive cost cutting campaign, including suspending dividends.

Fannie Mae (FNM | Quote | Chart | News | PowerRating) plunged another 27.75% or $2.70 to $7.03/share after hedge fund manager, William Ackman, proposed a reorganization plan that would annihilate shareholders.

Evergreen Solar (ESLR | Quote | Chart | News | PowerRating) rocketed up 11.46% or $1.05 to $10.21/share after winning a $1.2 billion contract in Germany.

Safeco (SAF | Quote | Chart | News | PowerRating) added 5.28% or $3.25 to $64.85/share due to Liberty Mutual reaffirming its buyout plans.

Oil fell $6.56 to $138.62/barrel, the Dollar dropped hard against the Euro and the VIX broke 30 today ending the session up .21% at 28.54.