Market Currents
Big bank stocks have been on a tear, but a JMP Securities analyst says investors should...
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Friday, September 7, 2012, 5:19 PM ETBig bank stocks have been on a tear, but a JMP Securities analyst says investors should take profits now, calling the rally unwarranted. The ECB's new plan likely won't have much effect, he says, since it only addresses high borrowing costs for Spain and Italy and doesn’t tackle other issues like Greece. A Greek collapse isn’t being priced in, he says; if it happens, big bank stocks "will fall dramatically."
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Well Said!
Anyone who ACTUALLY expects Bubble Blowin' Ben to whip out his QE stun gun next week is Delusional and just out right piggish!
You have had a massive move up in the averages, by any metric!
To demand more QE,
basically your saying F - YOU to the hard working man / woman struggling to keep up with the dollar debauchery!
Think Bernanke is stupid enough to actually do anything "Substantial" at all,
this close to the election?
All he would ACCOMPLISH would be Gasoline at $6.50 a gallon for November 6th!
No more QE and PLEASE,
for the love of the working poor!
Dollar Strength!
The Euro @ 1.28 and change?
My God,
what will the markets look like if the U.S. Dollar finds some support here,in a nice larger uptrend?
The Euro at 1.15 to 1.20 in the near term?
Be very careful here, profit taking, year end taxes?
Sounds like a pretty "Heady" time to sell....
Things move exponentially faster to the downside!
A healthy 5 / 10 % correction that keeps going to the down side?
This could be a doozy kids!
May the republic not lose,
because we sat down!
For sure owning stocks of any kind is like climbing a greased pole, and the higher you get the more slippery is the grease, it turns to oil.
We do get warning signs of a reversal and a double top is one, or rising price and falling volume. All great signs that a correction is near.
So, this weekend, I am going to take whatever free time I can and look at NLY, PSEC, ARR and a few others and take a deep look at what the tea leaves are telling us. When looking for a top, or bottom, there are usually hard signs in the charts and volume that can serve as a warning.
I am literally days from retirement, havin' a great run in the stocks I have, and really not willing to give up some of the nice gains I have made in the last 30 days.
Well, sometimes trailing stops let you sleep at night, but can be hit easily and then the market continues to rise without you. For the most part that is okay with me as the type of stocks I am in, a little miss of the upside is not as bad as a huge loss of equity to the downside, and I love the investment rule, "Don't lose".
Gonna do some heavy checking.
Capt. Brian
Pay no attention to the man behind the curtain.