Reams of Underpriced Stocks

I have no idea if Wednesday's rally marks a significant bottom in the stock market. I have heard different pundits declare a long term-bottom, while others think it's just another case of kicking the can down the road in Europe. Looking at the data for a clue is confusing at best. The ADP employment report was good, but jobless claims still rose. Black Friday sales were strong but many, including me, believe a lot of holiday demand had simply been bought forward.

The coordinated action by the world's central banks gave Europe a sigh of relief, but it's also a sign that the crisis was worse than many had thought. We learned in 2009 that liquidity trumps all, and that could be the case once again. It took several moves by the Federal Reserve to get the party started, but it was quite the event once it finally happened. Should more liquidity measures be implemented in Europe, the same sort of a reactive move could result....562 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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