moolamanic's - fear phase - wednesday, page-46

last night's S&P500 chart, ummm, come in spinners or what




.........

U.S. stocks staged a fierce comeback in the final minutes of trading on a report that European Union finance ministers are examining ways of co-ordinating recapitalizations of financial institutions


yeah right, if we believe that


The reversal comes after the Financial Times reported E.U. finance ministers, meeting in Luxembourg, concluded that they had not done enough to convince financial markets that Europe's banks could withstand the current debt crisis.

Traders also pointed to news that Franco-Belgian lender Dexia is set to park assets into a so-called bad bank, a vehicle backed by guarantees from the French and Belgian governments.