Custom Search

12 March 2009

Stock Market Extends Rally

The stock market is managing to rally three days in a row. Is this the beginning of a new bull market or just a bear bounce?

In order for the market to make a sustained rally it is said that the financial sector has to recover and hold its gains. Recently Citigroup and Bank of America have announced profits for the 1st quarter. This is encouraging news, but does it mean a turnaround or is it just an aberration.

In fact, when the government gives a behemoth corporation $45 billion and they turn it into a $8 billion profit, I have to wonder if things are getting better.

At any rate, the stock market has gained 700 points since last Friday. The charts don't necessarily look like a bottom has been made, but a decent money making bounce is in progress.

No comments:

Post a Comment