New York Times on Bear Market Rallies

I participated in a NYT debate about Bear Market rallies today:

The Dow Jones industrial average gained 246 points on Thursday. The Standard & Poor’s 500 index has now risen more than 25 percent since stocks bottomed out on March 9, one of its best runs since the Great Depression.

This run-up appears to be a classic bear market rally. Do such rallies indicate anything more than investors desperate to find good news anywhere? Or do they suggest a real return of confidence?

Its a short excerpt; the full version of my part runs here on Sunday . . .


Bear Market Rally: What Does It Mean?
NYT, April 10, 2009, 11:27 am

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