The bear rally is pausing for a stop due to lack of good economic data & news. It gain around 21% in just 17 trading days!!
1. Obama is threatening the auto industry to buck up or face bankruptcy. It is NO wonder why he never do this on the financials. I guess financials are TOO big to fail. This is the 1st test on whether he is BOLD enough to execute his threats if the auto's still slacking away. A lot of used to be "secure" jobs going to be lost if GM, FORD , etc faces bankruptcy.
1 point for Obama for firing GM's CEO Rick Wagner.
2. G-20 group pessimism on the current financial situations.
3. US home prices drop 19% in 20 major cities since Jan 2008
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