I am convinced that we are in for some very irrational trading for a while. Maybe it will V bottom..... Maybe
But I'm seeing.
C at 7
JPM at 20
GS at 100-120
MER at 15
Key at 4
WM at 1, it will be a lotto ticket.
Most the Regionals will get to 3-5 bucks, expensive Lotto tickets
BAC at 13.
If you decide to play the lotto, that is when I'm thinking one could take their shot.
They are all going to start trading like worthless pieces of paper. It's irrational, but.... when was the market Rational?
Zero confidence in the financials, is actually a proxy for Zero Confidence in the U.S. government.
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
Monday, July 14, 2008
Well
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