SRS. Today is a good entry point. This rally has more to go, but only so the shorts can load up again. Nothing has been solved. I liked Chris’s phrase, “Barry and the interns.” Its like Bushonomics, but with a black face.
I think Dean Kunstler said it best in his blog:
If central casting called for a poised, straight-talking, and capable-seeming president, it would be hard to come up with someone better than the Barack Obama who walked and talked around the White House grounds with Steve Croft on “60-Minutes” Sunday night. He may perfectly represent the majority who elected him, though, because he also appears to be in full commanding denial of the realities overtaking our American experience.
Those realities include the fact that we can’t possibly return to the easy credit and no money down “consumer” economy no matter how many nominal dollars get shoveled into the fiery furnaces of banks too-big-to-fail. As Treasury Secretary Geithner’s underling, Stephanie Cutter, said last week, “Our singular focus is on increasing lending to support economic recovery. Everything we do to stabilize the financial system is done with that goal in mind.”
In other words, if you think that was the bottom, sold to you!
Josh
