Toro of the Running of the Bulls Market Blog has this excellent reply to an angry, bitter and deluded bull in the following post. To give you a hint, the bull in question, Don Luskin, addresses the mean permabears (responsible, according to him, for the recent market ugliness) by saying:
"ARE YOU SATIFIED?".
Truth be said, Don Luskin is at least saying something even if it's only a bitter rant. Other bulls have grown utterly silent. Bears of all stripes, on the other hand, are coming out of the woodwork and having a blast sharing their ursine views. Case in point, this from Associated Press:
Billionaire George Soros called Wednesday for a massive injection of regulation and oversight over financial markets whose excessive freedoms have caused "not a normal crisis but the end of an era."
Granted George Soros, a man I highly respect and admire, is not the most apolitical person you'll ever meet but at least his sense of timing is impeccable.
I'll leave the last words to the always insightful Arthur Hill from the John Murphy Market Message:
"Lower interest rates are supposed to be positive for stocks, but both the S&P 500 and the 10-Year Note Yield (interest rates) have been falling together for three months. Because stocks have yet to respond to lower interest rates, more rate cuts may not be the panacea for the stock market. Not immediately at least. Chart 8 shows the Dow Industrials and the five rate cuts. It all started with a surprise ½% cut in the discount rate on 17 Aug. Despite four more cuts since then, the Dow Industrials is over 1000 point below its 17 August close. The Fed, the Congress and the President are doing their best to stimulate economy, but let's see some stimulus in the charts before getting excited."
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