How is that going to happen? We already had the retest yesterday of the downside!
There is ZERO chance of Rosie's scenario happening!
With all his rigor and intellectual superiority, he highlights this as the salient proof that the rockin rally from 666 was just a bear market bounce:
"Despite all the good news since the start of the year the overall equity market is the U.S. is down 8% from its January high--this goes to show that this was indeed a bear market rally rooted more in technicals than it was in fundamentals."
So what was the good news then????
Breakfast With Dave February 9, 2010 (David Rosenberg)