Have we hit the bottom?

The stock market, many analysts, and Barron's seem to think last week was the bottom. There was an article in Barrons about how Bear Stearns going down was the bottom and you have heard the same thing from many analysts. Maria Bartilomo said the same thing on Meet the Press this Sunday. Bob Doll was on CNBC this morning about touting all the "good news."

How can we be at the bottom if the credit issues that started this are still there? The Euribor (Euro-Libor Rate) is at it's highest this year to 4.70%. Banks are still waiting for other banks to go down.

People are still flocking to treasuries. Remember last week the treasuries were yielding about .5%! Safety first.

Remember that even Ben Bernanke said we will have more bank failures going forward. So far we've had none. So this mess is not over by any stretch of imagination. The equities will at somepoint catch up with the credit markets.