(which I happen to agree with)
"Nouriel Roubini | Nov 19, 2008
With major US equity indices free falling over 6% today Wednesday, ending below their October lows and now being back to 2003 levels the latest bear
market sucker’s rally is now officially over. A cacophony of delusional bulls – including allegedly savvy investors such as the Sage of Omaha and
other luminaries – were spinning for the last month the fairy tale that markets – especially equity markets – had fallen so much that a bottom
had been reached and that this was the time to start buying equities. Some of us never believed this self-serving spin and warned repeatedly that both
equity markets and credit markets had further severe downside risks (20% to 30% lower for equities).
Let’s flesh out the details of this bust of the latest bear market sucker’s rally and consider the future outlook for risky assets"
What bothered me most was when GE broke it's October low and FIRMLY stayed there a couple of weeks ago.
Uncharted waters girls - new closing low on the S&P 500 today.
JK
[edit on 20-11-2008 by leo123]
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Here is a great link for non-professionals to keep up to speed, if that is your bent.
markets.on.nytimes.com...
S-E-GG-NA-S-international_stock_market
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