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

"Sell down to your sleeping point"

Thursday, October 15, 2009

goldman beats

but trades down....

sounds like expectations were a little high.

I had a conversation yesterday about Intel Vs JP morgan...

that intel was a possible good sign about the economy, but Jp morgan was just a sign that the infinite shell game continues. It's no surprise that JPM and GS are doing well.

but my point is that Intel traded back to the tuesday close, and JPM and the banks ran.

So good news, bad price action.

Maybe I didn't share this, but expectations are that this quarter will be as many good beats at last quarter. Which means to beat expectations, not only do you have to hit a home run, you have to hit it out of the park.


Tony said...

GS big beat... ominous that it's sell the news. FAZ?

Eric said...

I think they will sell it, but after they sell this morning... it will bounce.

so maybe sell... but then be prepaired to hedge the spx.

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