bulls

Armageddon worries are way overdone, and it looks like we've reached a point where long-term risks firmly favor bulls instead of bears.

I can't prove the dollar is going to go up, but Warren Buffett has stopped betting against it. So dollar bulls at least know the Oracle of Omaha doesn't disagree.

Now that a few Wall Street folks have finally dared to utter the word 'recession' aloud, most of the rest are assuming this downturn is practically over. Expect the bulls to stumble.

The S&P 500 and Nasdaq rally for a third straight day; the Dow is off slightly as investors shrug off bad news on consumer confidence and home prices.

Clear Channel's buyout may collapse. A new-home sales report is expected to move markets Wednesday.

The bulls have come back out to suggest we've seen the worst of the credit crisis. But the real problem -- too many bad mortgages -- won't be easily solved.