Mercury Rising 鳯女

Politics, life, and other things that matter

Been down so long it looks like up to me

Posted by Charles II on April 15, 2009

Anuj Gangahar and Chrystia Freeland, FT:

The March stock market rally that fuelled hopes of a broader economic recovery was deceptive because “real money” investors remained on the sidelines, according to the chief executive of NYSE Euronext, the world’s largest stock exchange. In rare comments about market movements, Duncan Niederauer said in an interview with the Financial Times that the rally was driven by short-term traders trying to take advantage of high volatility and not by large institutional or other long-term investors. … He said: “The real money investors are still waiting. … once they are convinced you will know it. The market will have a totally different tone to it.”

…“I think we’re waiting for another rally, in my opinion, in around June and July,” he said. He said a summer rally would be a six to nine-month leading indicator of economic recovery and that by April 2010 the global economy would look much healthier.

This sounds about right to me, though I would not be surprised to see another test of the lows.

4 Responses to “Been down so long it looks like up to me”

  1. joel hanes said

    love the post title — an unforgettable book.

    Gnossos Papadopoulis. Heffalump. Oswald Mojo.
    The girl in the green knee socks and the Epiphanal Defloration.
    Judy Lumpers. Louie Motherball. G. Alonzo Oeuff

    now I’ve got to go read it again.

    I am invisible, he thinks often. And Exempt. Immunity has been granted to me, for I do not lose my cool. Polarity is selected at will, for I am not ionized and I possess not valence. Call me intert and featureless but Beware, I am the Shadow, free to cloud men’s minds. Who knows what evil lurks in the hearts of men? I am the Dracula, look into my eye.

  2. Charles II said

    Well, Joel, you can read every other page for free on Google books. I think Gnossos might appreciate that sort of situation, in which you can see exactly half of existence and half remains behind a pay wall. So, all you have to do is capture the love of the heiress and you will understand the whole.

  3. joel hanes said

    I own at least two copies.
    Mostly I buy the books I read, and I keep most of them.

  4. Charles II said

    Gnossos might appreciate that, too. Reading in stereo, to see if blending the two creates a new reality.

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