Thursday, November 27, 2008

Stocks rally is a big raspberry!

Dow Jones Stock Market Index Defies Gravity And Reality

The Dow Jones is now on a 1,000 point, four day winning streak in a defiant bear market rally that defies the ever darkening economic backdrop and the awful cowardly terrorist attacks in Mumbai. So as the ghastly slew of economic data continued unabated yesterday the reality is that this mini rally has probably a lot to do with month end portfolio adjustments from cash and bonds into stocks. Look at US 10 year Treasuries yields which are below 3%, so the bond market is blowing this rally a big raspberry.

Posted by v stor @ 08:37 PM (598 views)
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