Yesterday the Bulls made a move and the Bears retreated. This may be the big test of the lows everybody was waiting for.
Cobra's Market View calls it a Key Reversal Day.
Afraid To Trade takes A Look Inside that Action using 1 and 5 minute charts.
Toro's Running of the Bulls makes a convincing comparision in 1974 & 1987 Redux.
EconomPic points out that despite the mega rally, LIBOR moved higher.
Macroman adds his Two Observations. Caution is warranted.
Mish is expecting a multi-week rally in Crash Count Updated despite exploring the Strange Case of Falling International Reserves.
Naked Capitalism expects More CDO Defaults.
Market Ticker is asking Where's The Change? as Obama embarks on more of the same...
New N Econmics says the FDIC Reported 19 Bank Failures, But Its Really 16.
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2 hours ago
7 comments:
So, what's your take? Were the lows successfully tested yesterday?
The Nasdaq and S&P 500 actually made fresh lows yesterday.
And yesterday the DOW didn't really test its 7,773 low made on 10/10.
So, the global markets are the little kid, and the forces of unwinding over-leverage are the riot police?
Wow.
Check out that "Ship of Fools" youtube vid Slope of Hope links to.
Hindsight's 20/20, but gee whiz....
hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha
what a joke....this is the bottom...?! what we rally for 5 years from here? i love it when th epundits compare this downturn to previous hiccups.......breaking news on CNBC...the econmy is fine, people are employed and making MORE income....oh wait...that guy was a realtor....never mind.
"Check out that "Ship of Fools" youtube vid Slope of Hope links to."
Way ahead of you. Peter Schiff vs Art Laffer.
Damn! It is only a "Kiss Ur Urs" rally! The little Bear only takes a little break, the BIGGER BEAR is going to come back.
Hi Ben,
First, and foremost - where the heck do you get these photos? I am always impressed.
What should I buy? You know that I am a mere economist, but I want the return, and wish to move away don't want to pay for a mutual fund. So I buy individually - long only - no shorts. Love the lows, hate the economy (and Paulson, of course), but love Bernanke, so I feel okay.
Thanks for the plug,
Rebecca
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