The US Stock markets are up over 2.5%.
and WHY ???
- The writedowns at investment banks are behind us ..............................FOR NOW!!!!
- The UBS writedown will be its last.
- The US DOLLAR is on the road to recovery.
- The Financial sector has bottomed out, and financials are leading the market rally.
- The ''Subprime Mortgage Collapse mania'' was overdone!!
- Gold has continued to fall, as the stock markets are now a safer place,( Gold is a buy on such declines, a staggered buying approach is advised)
- Bear Stearns just went bust!!!!!!!!!!! and no one but the FED seemed to be willing to lend it $30Bn for its'''questionable/worthless collateral'''
- Philadelphia becomes the first U.S. city to halt foreclosure sales in the current crisis...
-The US economy is already in a recession!!!
- Central Banks are losing the Inflation fight!