Barron’s Bob O’Brien says that after the S&P 500 fell to a 12-year low on March 9th, it then experienced a v-shaped recovery shooting 23% off the March Lows. Is this a true rally with staying power, or is the data a fake to the head?
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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March 29th, 2009 at 10:33 pm
When are we going to get YOUR opinion Barry? This blog, in its heyday, used to have analysis and charts and useful commentary from YOU. Now it’s devolved into a link farm/guest commentary farm. It’s sad to see the same thing happening with Naked Capitalism too.