The Market On Thursday

The day does not look like it going to be hideous. I suspect gains will be mixed. The reasonable news seems to be that we are in a minor few day rebound period yet the world economy and the recession still looms in the background ready to send things crashing again.

The rebound seems to occur because world governments are actively injecting cash into their banking and some corporate systems. Investors have willingly stuck a foot into the chilly waters.

I still maintain that the DOW hovers between 7500 and roughly 9500 or so for the foreseeable future. So we're not expecting a busting boom for some time to come.

Reuters: Global stocks, euro rally on emerging market gains

World stocks and the euro rallied on Thursday, driven by bargain-hunting and sweeping gains in emerging markets after the Federal Reserve cut interest rates and opened swap lines to four developing economies.

Reuters: Japan, Germany to spend billions to ease recession

Japan, the world's second biggest economy, unveiled a 5 trillion yen ($51 billion) package of spending measures to support its economy and Germany planned a range of steps worth up to 25 billion euros ($32 billion) to boost business.