ritholtz.com - 6/2/2009
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Good Evening: Grappling with an already confusing investment climate, investors were treated today to a GM bankruptcy filing and a scorching stock market rally. To the list of firsts previously set during the 2007-2009 bear stock market, we can now add the Chapter 11 filing of a current Dow ...
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Bear Mountain Bull —
From Jack McHugh via The Big Picture : To the list of firsts previously set during the 2007-2009 bear stock market, we can now add the Chapter 11 filing of a current Dow component, the steepest 2-10 year yield curve in history, and the largest monthly gain for commodities prices in a quarter century. In response to these tidings, the S&P 500 is now at a 7 month high, some 41% off its March low. Since many institutional investors have been caught underexposed to their benchmarks, and since the S&P looks like it has broken out of its May trading range to the upside, it is quite ...
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