We finally got it. A massive rally on the long end. How massive? Try 625 points+. We went from negative 200 to about break even and then to negative 300 + before going up 600 points to finish up 298. This is the Dow only but the other indexes tell similar stories.
Who knows, I didn't trade any today besides adding back my 1/3 of SRS. It fell 17% today and I think I might have been the last trade before the bell closed. It may go lower but the fall of commericial real estate I think is still intact. I thought I would be adding that back on in a few weeks not 24 hours.
Who knows what happens but I would not be surprised for the market to test 13,000 over the next few weeks. Either way stick to fundamentals and it will not matter.
Wednesday, January 23, 2008
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