Bounce

Well it looks like a bounce. When will it fail? Maybe S&P 1380 to 1430 or so. It could go all the way up to ~1500 and then fail. We will just have to see.

OverHedged has a good post with comments on a NYTimes article today:

http://overhedged.blogspot.com/2008/01/seems.html

I thought the same thing when I read the Times this morning. The credit bubble is huge and the 75 basis point cut is a panic move by the Fed.

I'll try and post more soon.