Like all bear-market rallies, last week's was utterly illogical, irrational, certifiably insane.
Look. All the fundamentals that caused this bear market are stronger than ever:
The financial disasters that have gutted world stock markets this year are accelerating; NOT slowing.
Debt defaults are soaring; NOT going away.
Global economies are cratering; NOT growing.
Consumer confidence is crashing. Corporate earnings are vanishing. And, it's all coming unglued FASTER with every passing week.