Monday, September 22, 2008

Economic Bailout - is not fooling anyone

The 700 billion dollar bailout is a brave attempt in calming the markets and restoring confidence. Unfortunately, I fear, that it is too little to late, and the markets are agreeing. The rallies of last week, it appears, were just a short squeeze, as traders and investors cover their short positions. Some non -financial listed companies are doing buybacks of their shares, but other than that, there is no real buying/investing, John Q Public is scared and very defensive.

Gold is up again this morning $897.40 + 25.60, Silver is also up sharply +.73 at $13.35. NYSE is down -167, and the Dow down $-220. (11:48am), OIL back to $110, if it breaks above that level and holds, we could easily see new highs $147 or more, let's not forget about Winter and the heating season staring. The US Dollar continues its downward trend

There are indications that 700 Billion is insufficient and that the real totals at risk are much higher. Very interesting article from the analysts at

No comments:

FeedBurner FeedCount