You have to ask yourself, as manic as the skf buying was last tuesday, and as bad as so many people were beaten in it.... How many of them are going to try that again? and to go lower, how are we going to get "more" people involved short the financials.....
as all the bullshit about short covering and how it's not long lasted in financials.... this is all the bear version of sliding down the slope of hope
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Wednesday, July 23, 2008
about bottoming
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