funny, since when is $12 billion gone from ubs and 4 billion gone from DB, and LEH raising cash good fundementals? why should ubs and leh be up 15%? i wasnt a perma bull and now switched, ive been saying this market was too high all of 2007 pretty much, and i think it is too high now. I doubt the writeoffs are done, and it will take along time for those companies to make back those losses and there is no way the market should be rallying almost 400 points today!
The market is smoking crack
- Thread starter Lippy
- Start date
And yet it did. There is method to the madness but it doesn't lie in logical economic interpretations, certainly not in the short term and not for a move like today's. There is no economic logic that will explain why the market is worth 3%+ more this afternoon than it was this morning, there are lots of reasons though why people might FEEL that it is worth paying up from this mornings prices.
They may just make one up, just like the economic data. Us seems to have turned into little mexico.
Todays rally simply illustrates the ever widening disconnect between "main street" and "wall street". Common amongst third world countries, or those headed in that direction.