Well, BUSH TAX CUT is better news, so will this change things on my alert, will Greenspan wait like the sadistic person we all have learned he truly is, or will he for once wake up and do the right thing and cut interest rates by Monday morning, and a full 100 basis points (1%) that Larry Kudlow correctly points out he should. Then rates should be cut again at least another 50 to 75 basis points by the May FOMC meeting. Non-farm payrolls down 86,000 instead of up 56,000+, which is worse than and in addition to unemployment 4.3%. THE FED IS RED lets face it, they are all pro-communist china. While the TAX CUT press release was good news, it may have curbed the late day rally also, however on the positive side, yesterday we took two steps forward and today only one step back, which as I predicted is where we are headed: each Rally will GAIN on each subsequent attempts to sell off into strength, and this may be the pattern for a while,in which case the market recovery may well be U shaped instead of V shaped, but if it will be V shaped then the "stupid stupid" talk of "final recapitulation" means we go in deeper and it will take longer to come out V shaped or not to economic recovery, even though the Markets will recover 6 to 9 months ahead of that.
I am,
Truly your$,
-Crystal Ball |
