Aristiphones'  Instablog

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little is known about me. and i prefer it that way.
  • The House Wins Everytime. 0 comments
    Jul 24, 2012 9:40 PM

    Even when they lose. Hence "the market sells off" but this time "financials don't lead it downwards." (that's with an across the board downgrade no less!) Will they buck the trend an lead the market higher tomorrow? Hard to tell. The market has been rallying so hard for so long without them there is a point where you almost welcome them going lower. Having said that..obviously...we're better of having the Money Center banks participate in any up draft just as we are to see them (hopefully) FINALLY engaging in a bottoming process. I've been negative on the banks (as that other guy you all remember) even into this year. With JP Morgan's trading debacle in London (and all the attendant lying and dissembling as these clowns are so good at to go along with "the surprise") i'm starting to feel a turn has been made. (For the record in spite of recommending an outright sell on the banks i've never recommended a "short sale" of the House Money. Talk about Fool's gold. Right up there with the real gold for the time being it would appear.) So here's a "trading call": buy Morgan Stanley tomorrow if you didn't buy it today.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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