Wednesday, July 30, 2008

A Bottom Without Capitulation?

I'm not a market historian and I don't know if capitulation is all that necessary first before we reverse higher. I'll just continue to trade what I see here, as usual. Ritholtz has a nice opinion though on the Merrill fire sale. Today should be a digestion day and we will probably see some sideways action. Watch for the analysts and their predictable brilliant wisdom to start upgrading the banks. If you can't trust John Thain who can you trust? Politicians look like alter boys compared to these guys.


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.