Thursday, June 5, 2008

S&P lowers ratings on Ambac and MBIA

And stocks sell off for ten minutes!

What a difference a couple months make!

Remember when Charle Gasparino would breathlessly warn us on CNBC at 3:30 each day of the imminent downgrade of the monolines?

The bears shorted stocks to death, telling us we were facing a depression brought on by housing.

Now we can't even find the recession!

But you had the whole story, here, the week of the market lows, before it happened.

The bears have already been steamrolled on the NAZ. Next step is the Dow! Look for 13000 next week.

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