Support for stocks and housing

Today the Federal Reserve, along with several international banks, announced a half point rate cut in the banks' lending rate. As a result the Stock Market finally started a turnaround, which today was 150 points higher than yesterday's close. After losing almost 1,000 points since the $700 billion 'bailout' was announced, indicators are that investors are coming back into the market to pick up bargains after the 'free fall' of the past 10 days. No one has yet said that we are out of the woods, but we all know there is a bottom to every downturn, and it is possible that when new money comes into the market and 'bottom feeders' start their search for bargains, the support level forms up.