After BSC's buyout at $2 a share, the market has bounced off again for a few days similar to the event a month ago when the feds had to pull an emergency cut. The outcome? Investors will sell this pop on the next bad news. Financial stocks FNM, FRE, LEH made huge bounces including GE.
As many already know, the sub-prime crisis is not over. The mortgage rates have not reset and they're still high despite the fed rate being slashed point after another. I see us testing the bottom once again before any foreseeable, sustainable uptrend.
Sunday, March 23, 2008
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