Stocks recovered a little, but just barely. Dow is up 55 & NAZ up 7, don't get too excited. Advancers equal decliners & gold is at record levels (some of the money from selling stocks is used to buy gold). Countrywide (CFC) remains in the news. They try to reassure investors, but the stock slipped to another new low @ $5. Washington Mutual (WM) is on the list of biggest decliners, down 13% to $11.13. This kind of news caused banks to be weak after yesterday's drubbing. MLPs hang there, the index is even today.
The outlook for the economy remains gloomy. Goldman Sachs issued a report predicting a recession in 2008 which will bring substantially lower interest rates from the FED.
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