So... what is the chart based on the Decay pattern up, down, up... maybe this will be the top of the trend and we end at 127.
This rally caught them flat footed. and so many people who wanted financials were suddenly blindsided by a rally. and now they chase them.. and the shorts are suicide, sliding down the slope of hope.
Umn... I'm having a hard time reading a chart... but my bet is crude cracks even more by the opening bell. The bears are all over that market, making them pay for months of hubris, and destroying the economy.
Dollar holds steady.
This just clobbered people...
I'm still stunned.. but why not chase financials with 7% yeild in this environment... Sucks that they were down to 15%. 5 days ago
Sentiment for the afternoon:
I had another search for "11 sigma event".
"astrology"
"doug kass"
"art cashin daily blogs"
"11 sigma event."
Still a lot of fear out there.
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
Friday, July 18, 2008
hmmm
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