Bill:
It looks like a classic case of the tail of the asian tiger wagging the donkey. So, we will pump in another 100 billion or so of loan guarantees, the big banks will take a few more hits, the semis, the oils and the techs and then this too shall pass.
The real story is coming, what's happening with IBM, Johnson and Johnson, Merck, HP, GM, Coke, ect. If results in these big boys will come in with healthy gains, while a little less than anticipated, it will have a Prozac effect on this market. Just my prediction, then after a calming down period of 4 to 6 weeks its back to the bull.
A little side note-- what the markets have been experiencing the past several years have been below average volatility, if anything this is only returning to historical averages..gregor |
