Got some rumor news just now of Bear Sterns being on companies don't answer list. I dont know if it is true but this might have explained the CEO coming and CNBC today and the subsequent sell off throught the day. Financials are dead here and I dont expect them to be at a bottom till be here of some really bad news of one of the big financials being in a cash crunch or one of them being taken over.
Lets face it if the investment banks are in dire shape imagine the hedge funds who took the same leverage trades and didn't hedge. We might be in a world of trouble here. Today's action plus this rumor tonight makes the investment banks and FNM playable short on any gap ups.
They are officially on play as day trade as shorts only when they gap up.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment