Wilted Ag Sector May Grow Anew

The government's bailout plan, I believe, is too little and too late to make any significant difference in the current credit crisis that continues to worsen.

The meltdown is far beyond Wall Street and the banking industry, because available credit is frozen everywhere, from large corporations to small businesses, and many companies are having a difficult time even meeting payroll because of the inability to borrow short-term money.

We certainly have extreme readings on sentiment indicators in the market, and we are certainly very oversold. Rate cuts, around the world, are a possibility, and that would certainly spark at least a short-term rally. However, I don't know if the rally will have any legs, and we will have to examine the action as indices hit heavy resistance levels. ...