relief rally, page-10

Hi all

One of the main indicators that the market is looking for is whether the credit market freeze is melting

One such measure is the LIBOR - this sky rocketted to 5.07 % from about 2.15 % a month ago. (figures from CNN)

Now during this week end, the rate dropped to 2.47 % and this is a pretty good news.

Many analysts are commenting that this turn (of course must be sustained) is the main pivot for the markets to get the confidence back.

Another indicator might be that the fear index has reached an alltime high of almost 77 on Friday -

All these point to some sort of a relief rally in the coming week or so.

Let us be positive - even the bears would like the markets to go up considerably for starting their good work again !!!

Sara