Bullseye, Broker. On the upside, overselling will eventually create a true buyers market (which is much the case now). But first the mortgage/credit/hedge fund static needs to clear out. I see a nice rally next spring. Maybe sooner.
FNMA and FHLMG: This short term fixeroo has trumped the hedge fund bears:
“Effectively, the federal government has now become the nation’s mortgage lender,” he said. “This takes a major financial threat off the table.”
Futures on all major stock indexes rose about 2 percent in electronic trading Sunday night, another sign of investor relief about the takeover plan