Tuesday, February 24, 2009

The no news rally returns...

I don't have a good rationale for today's rally outside of the normal rumors, maybe a dead cat bounce or talk that nationalization is off the tables for the time being. If I hear something concrete I'll put it up later.

This is why these markets are so dangerous for non-gamblers (back in the good old days these people would have been called "investors"). We broke back above support lines today and if we hold this could be the beginning of a strong bear market rally. I'll reiterate that we're eventually going lower, but rarely do markets move in straight lines.

If you're looking for the bailout calculator check the post below.

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