Banks

Well friday's news of JP Morgan pessimistic outlook for the next quarter seem to have just set in today. As noted last week we were flying on windows dressing phenomenon and today was testament to that as most managers would have to already bought stocks to show it on their books tomorrow, the last day of the month.
March was been a stressful month indeed and I am telling you this April into May should be very much the same. I hear alot of people coming out and saying because we had two down days the rally is over and we going to new lows but I am thinking new lows wont happen on the push down and it is a mere correction of the upward move we had in the past three weeks. Now am I mr. bull now, NO, but nothing goes in a straight like and I believe that this bear market should last till mid 2011 so we have alot of time to correct higher and then make new lows.
Anyone check out GS today. Man that sucker died like some bad news was around but nope it just shows you any stock that can retrace that amount after being up so much was not a investment but merely a trading stock. I hope some are learning what I am trying to bring forth here and not get caught up with the Jim Cramer of the world who is always on the wrong side of the market. Last week he was calling for the moon now we are down 400 points, man that's some record. I am down on one trade and I get emails asking me about it :) Life is so funny.
This is a race but not a sprint, it should be a marathon. Slow and steady and remember you not always going to be correct on your trades but the marathon method is more winners than losers and you will be ok at the end of the race.


Good Trading


MARKETJEDI-

P.S. I think commercial real estate is going to be in the dump for a long time. I thing that one is just beginning to roll over.