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May 16, 2009



>Never mind the happy talkers saying there's a bottom in to the recession. They are still stuck in lala land.

guess that's me, then. not sure what's going on down-under, but i was alerted to the first major breakthroughs/breakouts happening in the uk mid-january. about 2 months earlier than i predicted. since then, it's stayed pretty much on track, factoring in the faux-bounce i included for the early move.

we're not out of the downstream effects (they'll keep following-through for up to 6mths), but the back is broken of the creditcrunch and all the current signals are green. credit is starting to become available again, liquidity has returned to key markets, sentiment at the margin has turned.

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