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David Fry, ETF Digest (68 clicks)
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It’s probably just as well I didn’t post yesterday given that it was chalked-up as a day full of nonsense.

harpotypesWe’d be one of many hundreds to post something negative about the AMBAC/CNBC charade so why bother? There were plenty of other companies with problems that dominated tape action from UBS (UBS), Thornburg Mortgage (TMA), Carlyle, Merrill Lynch (MER), Washington Mutual (WM) and on and on.

Yesterday I heard that Goldman Sachs (GS) was asserting that the subprime/credit crunch problem was half over. That’s the good news I guess. The bad news is, well, the subprime/credit crunch problem is only half over.

It may have been a 10/90 day in volume and breadth but we won’t know this for a while yet.

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Source: Friday Outlook: Crisis Half Over?