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.
Monday, February 23, 2009
word is...
out there tonight there is some crap about the government and a 40% stake...
SO... if the market was down on nationalization on thursday and friday.. why are the futures up when there is this "story" that it may happen.
IMO, none of it is news driven per se. The banks have no earnings and got technically oversold.
ReplyDeleteIt's a technical bounce. IMO.
By Tuesday, we'll all be wringing our hands again and BAC will be $2.80