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  • honda4everrrr honda4everrrr Feb 28, 2005 9:51 AM Flag

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    That sums it up pretty well. From the bulls' perspective, it's not so much that they believe that finance is not a major contributor to the HB fortunes but that it's not the only one. The bulls believe that the economy can absorb a 1% plus hike and that inspite of such a hike, rates would still be damn cheap. They also believe it will take expanded economic activity to create enough inflation to cause more tightening, and the negative of rising rates would be offset by higher incomes from a stronger economy.

    At this point I wouldn't say that a crash is not possible, but if you look at past history it's going to take a recession to do it and right now there is not enough evidence to indicate that it's imminent. In the short term there is no doubt the mo-mo players are jacking with the sector big time.

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