Steve Grasso, I commented today about him... but here is his comments today at 2:10 in the video."If you are LUCKY ENOUGH TO HAVE POWDER DRY"....
With the maybe Sanguine Big picture, and I just saw fast money... and they were talking "Buy the dip".. and some kind of "Rotation into retail"....based on a nice bounce today in retail... we had a nice bounce in Real Estate last friday... and it's much lower today...
My point is.. I'm not sure there is any sideline money out there, based on the Grasso comment. And I'm not sure we are all that Bearish...
There is a chance all the fast money traders are right and it's all about following the Lemmings. But they have one shot trades... they saw the bounce are are testing it.... But that is short term money.... I mean.. .who is bearish on retail.......??? that isn't a MEME out there.
In the podcast we talked RIMM.... I just heard some major EUPHORIC BULLISHNESS on Fastmoney... some kind of $100 upgraid ......For that kind of sentiment and the price action.... I say it's bad... but that is sort of a Parrot of someone smarter than me.
REMEMBER I COULD BE WRONG!!!! and OFTEN AM!!!
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
Thursday, June 18, 2009
Coments and sentiment
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