What I am finding enjoyable is that those who are bullish on the banks are getting more aggressive in asserting their views again. We may finally have a two-way market in banking stocks again as opposed to a one way market which has been characterized by a complete lack of conviction by the bulls for almost all of the last eighteen months. The sporadic rallies have only arisen from short-covering by the bears on any glimmer of hope or unexpected piece of news, that is perceived as good news by the market.
Reading the more confidently hostile comments by Seeking Alpha commenters to those they label doomsayers is a sure sign that the market is on the turn. This is not to say that we are headed steadily higher but that more normal liquidity is returning to the equity market. Liquidity requires fractiousness and strong disagreements on the outlook for price direction and that is beginning to return as evidenced by the comments on this site.