Discussion in 'Chit Chat' started by stock777, Mar 26, 2009.
A nice, textbook bear market rally - and a historical one at that.
Meanwhile, the economy hasn't improved. A few data sets about increase in new home sales (because of foreclosures) and some better than ghastly expected earnings from Best Buy doesn't change the manufacturing, service sector or employment categories.
Birinyi is recommending that anyone with gains during this bear rally sell now, and although I don't always agree with him, I think he's dead on.
As to what caused the rally, its almost as if the forced deleveraging stopped cold.
No way to prove that, cept thats what it looks like on the chart.
That and on 3/8 near the exact bottom I called it. Even before it happened, just so's you could get ready . In print. Right here on ET. You can't fake the old posts, I made them a large offer and was rejected.
I even posted a nice picture for the many here that can't actually read.
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