The DOW has staged two "stands" at the 11800 to 12000 level this year. To-days rally in the face of totally bearish news on Bear Sterns and financials around the world may be signalling a double bottom on the DOW. This may be the begining of a decent rally running thru March. IMHO most of the bad news is already out in the market and financials have been deleveraging for over six months now. The Fed has given massive stimulus to the economy over that same time frame and the markets may be primed to kick a lot higher.
Moved from the "United States" forum. Original message number: 591
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