Is it possible that the people calling this a bounce are under-estimating just how far reaching the move on Freddie and Fannie will be for the US financial institutions?
If so this may be what the market needs from a psychological perspective to move strongly higher over a longer period that everyone seems to be thinking.
Privatisation doesn't solve most of the underlying issues in the US economy but psychology may be more important in the near term.
time to short or not, page-59
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