ECB's financial lubricant.

The European Central Bank(ECB) shocked the markets today with an unprecedented $500 billion two-week loan issuance injection to the banking system. Estimates suggest the operation was about twice the size technically needed. Today's operation by the ECB effectively drove a 50 basis point reduction in the two-week loan rate in euros to 4.45%.
The Bank of England had said Tuesday that it would pump additional reserves into the money markets, and that banks had already bid £10 billion ($20.2 billion) for three-month loans. The U.S. Federal Reserve had conducted a $20 billion auction of 28-day credit on Monday. The European Central Bank also called for 50 billion euros ($72 billion) in tenders for a 98-day, longer-term refinancing operation that would end March 27.

Tracking Monday's Dow,18/12/07.
Stocks rebound on the open.The good news driver:-1)ECB lubricating banks
2)Good earnings report from Best Buy (BBY) and Goldman Sachs (GS).The pullback between 12:00pm till 1:00pm was caused again by Goldman's CFO who issued a cautious near-term outlook.But the bulls decided enough is enough and bring the indicies near its day high.The final bell saw another bullish hammer and might continue its recovery cautiously.
A spinning doji within the body of the black candlestick signifies the bulls are trying to recoup its losses.But there was a long bottom shadow than the upper so the bears are still powerful are this stage.
MARKET WATCH-LIST:
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3) SOEN - Volume Alerthttp://rs6.net/tn.jsp?e=0019UTkamAC5tsroBJjX8rCZn5-46bskf5N5j_SWmeArgDT1Y0SKfoF1FU9p04O4Ol2AfEUrMHxf1txKQtZgj1zXM_vAV06Zc453EAooiiUXphO96sgj99c1qT02h28_nJr-P6m0L3ogK8= Solar EnerTech is a photovoltaic ("PV") solar energy cell manufacturing enterprise based in Shanghai, China, where the Company has established a sophisticated, 42,000-square foot manufacturing plant in Shanghai's Jinqiao Modern Technology Park. Currently, the facility is capable of producing 25Mw of solar cells from its existing production line.