Bear market rally or the beginning of a new bull market? Who the heck knows, but there is good news out there. The S&P extended it's rally and is now up about 17 percent since hitting 12-year-lows last week. Today's market was fueled by the Fed saying it would buy $300 billion of Treasuries--10-year notes surged. The gub'ment (as I like to call it in my best anti-big-government accent) also says it will drop another $750 billion on bonds of gub'ment-backed mortgage debt.
So, I ask again: Bear market rally or the beginning of a new era? After all, February housing starts jumped in February (by 22 percent!), retail sales (not including autos) jumped in January and February, and etc.
For a hint, see this Saturday Night Live skit.