Jim Letourneau's Blog

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Sucker Rally?

The Dow Jones Industrial Average has bounced an astounding 30% from its March 9 low of 6547. Is this the dawn of a new era? Are we off to the races again?:

Andy Kessler provides three explanations for the short-term upswing in the markets

1) Armageddon is off the table.

2) Zero yields.

3) Bernanke's printing press.

More here

It doesn't take much to get an oversold market to bounce. It will be interesting to see how long the market can defy gravity and get back to where the bearish fundamentalists say it belongs.