Plastering the cracks

Today, you will see action on the ASX. Several central banks have stuck their fingers into the dykes. Great.... but the holes are still there. And more cracks will appear.

The reason why private banks are not lending is because debts were not paid back or the debtors couldn't make repayments. All the problems still exist. Greeks are still lazy and Europeans are still overpaid. And the Yanks owe a lot. Japanese haven't recovered from natural disasters. Chinese has a contracting market... with a pending property bubble bursting.

I am happy that there is going to a bounce but the gravity of more bad news will pull the rise back. Only buy what is valuable, will increase in value or are profitable.