DON'T BET AGAINST ANGELO

Or any other tanned Italian men in general. Looks like Countrwide may be saved via rumors of a takeover by Bank of America. If this is the case, than look for a strong market rally especially in the financials. A short term bottom appears to be in place. BAC injected $2 billion in Countrywide back in mid August which also market a market bottom. I expect the markets to continue their downtrend in the intermediate term. But a strong rally could develop here and continue till the Fed meeting in late January.