Niner

Was August 6 the Stock Market Top for 2009?

July to Aug 6 has been really good to me. As for Aug 6 being the top, I'm going to be a big chicken and wait for the unemployment data Aug 7 before I call anything. But, as for Aug 6 being the high for the year, I think it is possible but not probable. A pullback to 97.5 or even 95 wouldn't surprise me though.

If we get good (ie less bad) unemployment data today, we could break out of this sideways action at +/-100.

Paulson/Bernanke: $700 Billion at 'Hold to Maturity' Pricing

Are they telling me that these thirsty financial institutions are going to get pissey because they are being offered a drink of cheap water.

If they need to dump all that bad paper (illiquid assets...who dreams up that crap) they'll come running to the watering hole.