Wasn’t the last rally, “the last chance?” The one before that perhaps? I’ve lost more money in the last week on puts than I’d care to admit, but I’ll make it all back. Whoever (banks IB and otherwise) has been hiding the sausage is going to have to disclose fairly soon.
Id even venture to guess that the fear caused by interest rate freezes on mortgages will smoke out a few giant holes on balance sheets in the next few weeks.
Either way its not the last rally. There are lots of organizations in govt and entertainment that have the ability to move the markets greatly over very short periods of time. Hell all you have to do is float a rumor that Buffet is going to buy something, thats good for a pop. Then the alcohol wears off and people realize, holy sh!t, we’re in debt! Thats when the next round of fun begins.
