Monday Morning and the markets are excited off the PEBO stimulus chat this weekend on infrastructure and possible mortgage modification work from the Treasury as well as news of a deal on a BIG 3 bridge loan…WH indicates deal could come as early as today..
…A White House spokeswoman says it is “very likely” that the Bush administration could reach a deal with Congress on Monday to get emergency aid to failing U.S. automakers.But she expressed concern that the White House has not seen a specific proposal from Democrats…
Chris Dodd D-CT, was making noises about Wagoner having to step down to do a deal last I heard, of course Wagoner isn’t the problem and that would be Kabuki Theater….let’s see how much of a sacrifice Pelosi wants to tap that Efficiency fund from the dept of energy for the bridge loan….
Are the market/economic fundamentals still whacked? Oh yes.
Is this pop sustainable? IMO? No, absolutely not.
Do some folks think we hit a bottom November 20th? Yes they do, I am not among them.
Should we bury our heads ostrich style? No! Make a trade!
Do what Stevie Winwood said, Roll with it Baby..
DOW up 284 to 8919, NAS up 46 to 1555 and S&P up 30 to 905..