Last Friday, Asian and Europearn markets were down more than 3%, Fed cut discount rate by 50 points in the early morning, and the street rallied. Although the rally faded, the close was up around 2% on all major indices.
During this weekend, people are still talking about subprime problems. But I have noticed that the house prices didn't drop further in Montgomery.
This morning, Asian were up big, covered almost all the lost made last Friday. I see the US future going up. But cautions are still there. I don't expect it goes straight line but at this market low. Normally, you shouldn't sell. Even with sell, it should be short and swift.
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