I confirm what Netcash said on E*Trade, very valuable especially if you are a non resident alien .... i won't say why but those who are have certainly a big smile on their faces while reading this...
Hi everyone, look at the charts of the summer 2002 and that of 2007. Can't you see we are probably going to have some sort of revival of the same pattern ? Of course all bets are to be taken as of today, but the much anticipated financial crisis is starting to deflate itself and the punishment is already in the prices. Look for a solid recoup of the sound financial stocks from now to the end of this year. The US government cannot afford to shed the credibility of its financial markets which are the only resource it has to finance the incredible public debt. The recent bailing out of some critical financial institutions and the existence itself of the FDIC are the proof of my thesis.
All the best, long live the financial markets, with some doses of regulations long needed and that has not materialized yet.
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I share the view according to which the formation of a bottom comes in waves and brings oscillations which are the effect of forming of a new equilibrium point between supply and demand. This phenomenon is amplified by the short covering and bottom fishing players but it is in my modest opinion becoming a reality right in front of our eyes.
I totally agree with your analysis, we have more than probably reached a short term bottom when the VIX spiked a few days ago and now we are retracing upward, of course with some bumps and profit taking. High degree of intraday fluctuation are the signal of market shift from one major direction to another. Congratulations for your brilliant analysis. We want more !
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Regards,
Corrado
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All the best, long live the financial markets, with some doses of regulations long needed and that has not materialized yet.
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Excellent analysis, thank you !
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Congratulations for your brilliant analysis. We want more !