The market enjoyed another big rally today, its first back-to-back rally days in quite some time. The catalyst for this afternoon’s push higher was the housing/mortgage relief plan outlined by President Bush and Treasury Secretary Paulson (see below).The housing sector breathed a huge sigh of relief, and the housing index (HGX) surged +8.1% on the day. That is an enourmous one-day relief rally, even as it comes of a very depressed level.Yesterday was a classic "follow through" day if you follow the William O’N[...]
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[Source: The Money Blogs]
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