News developing here after hours that the Obama team is looking into developing a Bad Bank model with the purchase of illiquid assets from the banks. I have no idea how this will develop but this sound like a gateway to Nationalization of the Banks. This could be the bump the bulls need for a multi week rally but who knows. I had been calling for a bounce here and if this plays out as a bounce it will be a multiday-week but will end in the same direction.
I personally would love to see a bounce pan out.
We will see soon enough
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