What kind of scared little girls are we here at Notes? Here we were warning our readers of the dangers of the current rally in stocks while everyone else is out there “getting some.” Stocks surged yesterday. The Dow hit its highest level since January 13, closing at 8,426.

When China announced its colossal $600-billion stimulus package back in November, we cautioned investors against irrational exuberance on the overall impact it would have on commodities, stocks and heavy equipment.

The world’s banks and lenders have suffered losses of $2.8 trillion as a result of the credit crisis, according to the Bank of England. The British central bank is calling for “tougher regulation and constraints on lending,” according to The Guardian.

U.S. markets tumbled Friday as a global sell-off spread from Asia and Europe, as fears of a worldwide recession intensified.