I am just not drinking any kool aid, not at all. I'll trade it, but the last few big moves have all been given back. If you want a sense of how confused the market still is about financials just look at the recent calls on AIG. Today Soc Gen went to a sell and yesterday UBS went to a buy on the name. How can intelligent people view things so differently? Of course one of them will be correct in his or her view. Don't you just love how Wall St. gives you just a 50/50 success rate. Even worse if you actually do listen to analysts.
Let's see if commodities mount a rally today or continue the rollover. I think financials should be sold.
Wednesday, August 6, 2008
Bear Market Rallies Are Nice, Aren't They?
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About Me
- upsidetrader
- 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.
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