COMMENTARY | COLUMNISTS | GEORGE CHAMBERLIN

George Chamberlin's Money in the Morning

A funny thing happened Friday as Wall Street reacted to the terrible jobs report. To be sure, the permabears were dancing in the Street as the Dow industrials plunged 280 points after the Labor Department reported a disappointing increase in payrolls during September and sharply lowered the original increases reported in July and August. All of a sudden, something flipped a switch and the markets did a U-turn, recovering all of the loss and actually finishing the session with a gain of 200 points. Some would say the early decline was climactic, a dramatic, powerful dip that appeared to be bottomless. That, of course, is usually where rallies begin.

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In early trading today the Dow is extending its gains, up another 200 points in early trading.

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Sam Stovall of S&P Capital IQ says the correction that began in May has already ended or will likely come to an end this month. "October has been the market's favorite month in which corrections and bear markets come to an end. Of the 31 declines of 10 percent or more since World War II (19 corrections and 12 bears), 32 percent of them have ended in October, which was twice the frequency of the next highest month (March) and more than three times the third-highest month. Indeed, five of the last 10 bear markets ended in October, as did five corrections," Stovall said.

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It is very interesting how little coverage in the national print and electronic media the Friday intraday recovery received. Not surprising, but interesting.

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If you're watching the tickertape this morning to check the price on Google stock you may be wondering where it went. This is the day Google, the corporation, becomes Alphabet. Yes, it will still trade under the symbol GOOG and the search engine Google remains the same. However, a decision was made by the co-founders of the company that it has become much more than just a search engine and a new name for the umbrella company was necessary. So, watch for Alphabet to cross the wire.

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Interestingly, the new list of the best annual brands is out today from Interbrand and Google is number two on the list behind only Apple. Rounding out the top five are Coca-Cola, Microsoft and IBM. New names on the list of 100 brands include Lego and PayPal.

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Newell Rubbermaid, the maker of popular kitchen products and several other brands including Sharpie and Paper Mate pens, Graco baby strollers and car seats, and several other well-known products, is adding Elmer's Glue to its product mix. Elmer's also makes Krazy Glue and a couple of other adhesive brands. The deal is valued at $600 million.

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A win is a win. The Chargers looked rather scattered yesterday but fortunately were playing a team with even less skills. Thanks to an ill-timed offsides call against the Cleveland Browns at the end of the game the Bolts were able to eke out a 30-27 victory. Philip Rivers, however, was in mid-season form. Four times in the first half be belittled his linemen and receivers on the field rather than wait until the got to the sidelines to have a man-to-man talk. That's what I call a leader.

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