More Fallout From Bear Stearns
As if two funds going under wasn't bad enough, now Bear Stearns says there is a third fund in trouble. This makes investors wonder, well, how many more are there?
Chrysler (DCX) got some financing today, so there is some relief in other parts of the credit market.
The market opened under more selling pressure, as any negative credit market news is now viewed as a reason to sell. But it appears that the market may have found an early bottom, and is trying to bounce.
I am still looking for an oversold rally to kick in. Yesterday's action was clearly disappointing, but timing bottoms is always a tricky thing.
I have to run out to some morning meetings. Keep the market up while I'm out.