Thursday, October 9, 2008

More Fed Intervention

I guess the government now wants to take stakes in all kinds of banks, both weak and strong. I guess the 13-D's will be flying. I can see the headlines now, "Citigroup up 6% on Paulson stake."
We will have to see if this is just another rally that gets sold today. Until we can get a rally that doesn't get sold we will continue the grind lower.

6 comments:

Darwin said...

who's buying BAC...set up before the hard wash?

Billy said...

Incredible - It is like we are taking back the whole move from Oct 2002 - March 2003 $SPX 800

Billy

Steve said...

Congrats on the BAC call!

upsidetrader said...

Darwin
it was either ppt or the syndicate trying to support the issuance price but they could hold it no longer

upsidetrader said...

billy,
i thin 8000 is in the cards

upsidetrader said...

steve,
my first entry back to the dark side on financials and it felt good

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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.