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Why I am writing off the WSJ for the Day

|Includes: Barclays PLC (BCS), CS, DB

Today investors are selling off the market. Why? Everyone seems to be pointing to a critical WSJ article that focuses on "reanalyzing" the European Bank Stress Test results. Interesting how a media/publishing house is writing about stale news and turning it negative especially when investor sentiment is already sour. They're just playing to the crowd to bump up their daily revenue and that's all. I hate to say it but more often than not I now only take any WSJ article with a grain of salt and definitely cross reference it against other media sources.

As well, let's remember there is no new information on the European Bank Stress results. Absolutely zero! You can imagine my surprise this morning when I found out that it took this long for the WSJ to arrive at this conclusion. The "true" purpose of media is to provide analysis in real time relative to information releases. Remember, results in the markets are what decides who is right and who is wrong.

At this point I would actually use the WSJ hooha as an opportunity to look at any beat up European banks or members who are "guilty by association." Barclays (NYSE:BCS), Deutsche Bank (NYSE:DB), and Credit Suisse (NYSE:CS) come to mind.

Buy List:

Disclosure: bcs, db, cs