U.S. Stock Futures Are Up In The +200 Point Range This Morning — Following A Relief Rally In Europe Overnight; Be Careful Though, Doubtful This Is The All Clear Sign

U.S. Stock Futures Are Up In The +200 Point Range This Morning — Following A Relief Rally In Europe Overnight; Be Careful Though, Doubtful This Is The All Clear Sign

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     U.S. stock futures are up sharply this morning, in the +200 point range following a relief rally in Europe overnight.  But, be careful, as it is doubtful this is the all clear sign.  More often than not, these kind of rallies in the midst of a downdraft, turn out to be what market mavens call a “dead cat bounce.”  In other words, we get a bounce today, only to start back down tomorrow.  I am not saying that is going to happen; but, I also would not take this as the all clear sign.  Having said that, I am a buyer of European and U.S. financials — who have gotten destroyed in the past two days.  V/R, RCP

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