Happy, I thought we started the rally already, we did not match Monday's low and it is already two full trading days since. I did warn that the Dow will act much weaker (I did not expect, however a breach of 10,000, at least, not in March). As for tomorrow, the futres are mildly up, so, maybe it was the bottom. We do have triple witching coming Friday which will make matters a little dizzy, but I still think we end up with a minimal gain Friday as well.
As for Japan, they have to bring the PPT, not doing it will be disastrous to the Japanese economy, it may cost them another 5 years of slow economy.
If they do not find a rational way to save their banking system (for which they need time and a rational plan), their economy will grind to a halt, and what is worst, if their major banks all fail simultaneously, there will be a worldwide financial crisis and the system will "freeze up". I don't know ho they'll do it, but they will bring that Nikkei back to 13000 by hook or by crook by the end of the month.
Zeev |
