Crisis Diary as it unfolds ….

Rally on reassuring words from Ben

Market was looking for trigger for short-covering, which came from reassuring words from Bernanke. I don’t think anybody believes recovery is going to be that quick, not even Ben Bernanke. He knew he had to say it, so that markets can take a breather before they resume the selling again.

Is it the first time that markets have rallied on words of hope?

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February 24, 2009 - Posted by | News | , ,

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