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Everyone is wondering whether this is a fake rally or will be sustainable. One thing is for certain: the toxic debt on the broker dealer books is still being lied about and trickled out quarter by quarter. Look for the FIG sector to drag down the market when Q1 earnings season begins when more losses in the tens of billions are reported. Remember the recent "leaked memo" by Citigroup that they were profitable. If that were legitimate it would have been issued in via a legitimate SEC document. The financials report Q1 earnings around April 20th. The housing refinancing and housing starts and factory orders are all good signs for a market rally, but look for panic selling and shorting later in April.

March 27, 2009 at 12:29 pm

about this blog

  • Brian Sullivan joined FOX Business Network (FBN) in April 2008 as an anchor. He co-anchors the 10am-12pm ET hours of the FOX Business block. Prior to joining FBN, Sullivan served as an anchor for Bloomberg Television where he hosted the programs Morning Call and In Focus.

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