I can see a stock run-up continuing until the Fed meeting, though it's pretty uncertain what Ben & Co. will do this time. But after that, what do we have to look forward to? Another contraction reading for ISM, poor retail sales, mostly bad corp earnings, bad housing data, continuing credit market woes, etc. My guess is that Cramer's bottom will only hold a few weeks at the most. I'm primarily a technician, but news/fundies still drive the market. The only positive drivers lately have been bailouts and handouts. There will still be brief periods of temporary euphoria, but not as long as September/October (though there was plenty of bad news then, and it all got swept under the rug). At least not until a few more lower lows are hit and stocks become real bargains. Too much is known at this point about the recession/slowdown, credit markets, Bernanke's own grim views and the Fed/gov't have used most of their ammo. Any other thoughts?
They may not cut now that we found out the futures got whacked by the French guy... the market is expecting 50 point cut. Could get nasty ... BTW if we runup I'll be selling down my long positions or at least hedging big time