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Managing
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Private Banking Credit Manager that started as a pure long term stock picker and have evolved into a trend trader. I'm interested lately in technical systems that identify short to long term trends. Not looking to capture a trade at the very bottom or at the very top, but to ride 80% of the wave... More
  • The Girl who cried Wolf 1 comment
    Sep 28, 2010 5:59 PM

    Meredith Whitney is often accused and jeered by the "consensus" about crying wolf when it comes to the banks. Meanwhile the markets whistle by the grave yard.

    Now its the states turn.

    http://www.cnbc.com/id/39404684

    The sober fact though is she is right.  California and Michigan are broke. California especially is hamstrung by the unions and a failure of the political budget process to remedy the situation.  The question remains: will the political will exist for the federal government to intervene? And if so, when? Before or after the mid-terms? The tea party should love this one.

    Meanwhile "extend and pretend" at the banks is nearing its shelf life.  If earnings don't disappoint this quarter, wait until 4th quarter. Be patient, you heard it here first: (from Meredith) housing will double dip.



     
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  • Old Trader
    , contributor
    Comments (5724) | Send Message
     
    Managing,

     

    I wrote an insta a couple of days ago, regarding the situation in Illinois, which is right behind Ca. on the "problem list". I've got the sense that this is gonna get ugly...
    29 Sep 2010, 09:09 PM Reply Like
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