At last!! It only took a few dew drops of good news for the Dow to recover from its near death experience and rocket 350 points. The “I love America trades” of long bonds and Treasuries came back with a vengeance. The “short America trades” were last seen running down the street with their tails between their legs, and gold breaking key support at $900. News that Citigroup was profitable in 2008, rumors of the suspension of the uptick rule and mark-to-market accounting were enough to do the trick. It also helped that every technical analyst on the planet was screaming “Buy!” Although this may not last, even a single day of fresh air is welcome.
Is this stock market rally just a one day 5% dead-cat bounce? The basic fundamentals of Citi has not changed. Of course the banks will all be profitable if Uncle Sam removes any and all losses. A one-way street upward as long as the taxpayers pay the losses… a market rally based on these fundamentals does not prove to be a true bottom. San Diego Realtors
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UCLA predicts that GDP will dip by 0.4% in the second quarter of this year, but then rebound. Anderson expects GDP to be growing at 2.5% by the end of this year.
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In the long term the stock market always bounces back and people should take advantage of these slow periods if they really want to get a good return on their investments.
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Investing in the stock market should always be thought of as a long term investment. People who buy stock or indices whether in the U.S. or anywhere else must realize that the potential for loss is ever present.
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