The Passover-Easter bear market rally is poised to begin. Futures are up. We did see this coming and everyone and their mom was predicting it. Will stocks prices hold at these recent levels? That is a different story. Show us employment gains as opposed to massive layoffs and then we are past the recession. We might also need to get past the small matter of huge and no longer viable corporations and banks along with a deficit that is larger than the sun.
There is a new mantra being bandied about in financial articles - "investors' renewed optimism over a recovery in the global economy." This of course differs from "investors fears over banking and the recession." The latter was the mantra from just a few days ago.
I would like to propose that the two themes are the same. Both are meaningless and attempt to squelch a massive issue down into a happy go lucky or dooms day sound bite. It is the financial equivalent of a pop song that you can't shake out of your mind.
Reuters: Stock futures signal gains
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2 comments:
With Cramer out here saying the Depression is over, is enough for me to SELL!! SELL SELL!!
I don't listen to that guy. He's too full of himself. Sell, you got me. I'm holding. I figure I'll be even with everybody else, we'll all have nothing.
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