Bear market rallies can last two days or two months. Last week’s rally lasted six days and provided false hope to millions of investors. This remains a trader’s market and only the nimble or the perma-Bears will make money in it.
Heard any good news lately? Me neither. Billions upon billions are being tossed at industrial and consumer ailments and nothing appears to be getting a fix.
One wonders where China will get their $550 billion bail-out money. US Treasuries? We are auctioning another $155 billion this week. Last week’s auction went well. What would happen if no one showed up?
Jeff Sessions, Republican Senator from Alabama, has become the lone voice against Federal bail out Bandaids. He was also a renegade in Presidential politics when he said McCain is to volatile to be President.
Continue to watch GOOG and GS for market leadership, primarily down.
Cash remains king except for a modest short position by way of in double reverse ETFs.
