Now Circle those Wagons!


An expected but surprisingly in scope, co-ordinated move by the Federal Reserve, Bank of England, European Central Bank, Bank of Japan and Swiss National Bank are to provide funds to commercial banks to ease financing pressures, rallied the marktets today. This, in effect, puts a bid under the global financial system. A similar move was made by the Federal Reserve at the height of the US financing crisis early 2008 which pointed toward the bottom of the US stock markets. Perhaps this current move could point to the bottom of the latest debacle of the stock markets. The odds are better than average that this may be an attractive entry point unless some unknown, unexpected event comes out of left field and surprises the marketplace.

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