Market snapshots

First don't shoot the messenger. Most market indexes bounced more than 20% around the world except our laggard sleepy KLCI. A few braver ones call for a bottom or bull run is at its infancy strictly based on 20% bounce from March low. The bearish camps are making lesser comments but it will look rather foolish when the market keep going up and they keep making negative comments, so the intelligent things to do is to shut up. Or perhaps the media lost most of the calling numbers of bearish analysts already.

I sometimes just look at the top 10 read stories(Market watch) to let me have a feel on the market pulse. The market is still a bit fearful but making some baby steps to move out from safe haven(gold) and cash(item 1 & 7). Economic data spike from free fall is being interpreted by the market as "STABILIZATION" (item 2). Less bad news with a lot of cash at the sideline needs a reason(or any reason will do) to move the market up. The market is pricing in 6 - 9 months ahead for this recession to end. BTW, the market is gossiping about double dip recession -- not anymore on the Great Depression II.

Global leaders seem to be happy and stay united (at least publicly and who knows what happens behind a closed door). Contrarian technical group - Bob Pretcher - thinks based on his Elliot Wave Principle, Dow should hit 10,000 in the short term ( 4 - 5 months?, my own speculation on timing). Some camps say it's psychology that driving down the asset prices, so let's bend this mark-to-market a little bit, when you do that market sentiment will improve, asset prices will go up and we will winding stuffs in an orderly manner (item 8)[My Ass......]* A little bit of cheer leading from CEO will help(Item 9)[Boooo.....booooo.]*

* note to my insert -- I can make more careless or cynical comments because of improved market sentiments. It's a big sin when you comment like this when everybody is scared like hell. It's a civic duty you know.