Monday, August 24, 2009

Financial Crisis Called Off!

James Kunstler has accurately distilled the current view. It matches other sentiment measures. Wild bullishness is everywhere on Wall Street, if not Main Street.

Wall Street is in for a rude awakening, PDQ.

Just another note: as of 9:20 A.M. Central time, the indexes are up about .65%, but $VIX is up almost 1.6% (not surprising given Friday's charts, take a look back), and maybe forming a double bottom with it's low of last Monday. Once $VIX starts rising in earnest, the rally is toast. I suspect we're close to that.

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