How about yesterday's Dow 3.55% jump and almost a 4% jump for the Nas, in the middle of a US recession? Is that just a dead cat bounce? I think so. The reason for yesterday's enthusiasm was to be found in Bernanke's pumping 200 billion of liquidity into the system to relief some of the pain caused by the subprime led disaster of the US economy. The markets were looking for some reason for a short term recovery, albeit a fake one. Don't hold your breath. Short sellers will resume activity very soon now and yesterday's gain will melt like a snowball in hell, in a heartbeat! Sorry for putting things this way but that's what history taught us so far. C'est la vie, as Britts would say.
In the meantime, to keep news networks real busy, we got this case about the NY Governor Eliot Spitzer not being able to keep his zipper up and willing to fool around with classy (1500 $ an hour plus) hookers. Ain't the US of A beautiful? I don't mind sneaky Eliot screwing a hooker, but I despise hypocricy and don't have much sympathy for this sonovabitch since he's pretended to be Mr. Perfect for so long, winning governorship on the back of his "integrity" as a Prosecutor going after financial fraud in Manhattan and around Wall Street in particular, and also against... prostitution. It's probably there he discovered the Emperor's Club VIP and his 105 pound petite brunette. Anyways, he must have been a real asshole to be sending SMSs to his lady and pay for her services via bank wires. I guess many of his past victims are gloating and laughing their ass off! What a moron!