The furor over the AIG rescue and the possibility that American banks might be nationalized have turned March into a financial horror film: Zombies on the street, empty vaults, tentacled monsters, and cryptic pronouncements from a parallel universe. It deserves rewinding and deconstruction, episode by episode. March Madness March begins with stocks near the lows of last year’s crash and gold above the band of resistance (930—940), from where it can move higher with confidence. The dollar index (DX) is trading at around 88—89, the highest it’s been since 2005. Gold moving up generally signals fear of political and financial … Continue reading Dead Banks Walking