A Fool’s Rally

Anyone who believes that this morning's rally has any lasting power is a fool.  So a few economic numbers came in a little better than expected.  Big deal.  The economy is still a huge mess and not about to get better any time soon.  Of particular concern is that some folks actually look at the housing numbers, which were better than expected, and think that the sector will improve, which is just nonsense.  I hear that lots of banks who have foreclosed properties are not putting them on the market because of the glut now existing.  At the first sign of improvement these distressed properties will hit the market and the downward spiral will be reinforced.  The watch word for the day is "SELL".

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