Just a few months back in March, the world was coming to an end. The stock market sunk below 7,000; Ford and GM stock were trading at around a buck and casino giants MGM and Las Vegas Sands were ready to shutter their doors.
Fast forward to today and the market is up nearly 3000 points, Ford is up some 800% while MGM and Las Vegas Sands are up some 1000% suggesting people are still buying cars while gambling and visiting Las Vegas.
The $100 question of the day is the stock market rally for real? As you know, the market is a good indicator of the economy 6-9 months down the road. The market is telling us that the recession has peaked and recovery is underway and within 9 months, we will be growing again.
Is it that simply? Is it that easy? The market is never simple or easy. What do you think? Here are your selections:
A. The recession has peaked and recovery is coming within the next 6-9 months. B. The recession is still here and the recovery will come mid-2010. C. The market is full of BS and will go back down and we will be in this recession until late 2010-early 2011.
P.S. ACS personally presented me my own box of cereal, container of cold skim milk and cereal bowl for breakfast today at the Annual Strides event. Now is that thoughtful or what!